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STATEMENT OF CONDITIONDECEMBER 31, 2018TRAILBLAZINGWITH YOU FOR 45 YEARSRev. 01/2019
BOARD OF DIRECTORSRaymond T. BakerOwner, Real Estate Management FirmStephen BriggsRegional President, Roaring Fork ValleyJohn W. CooperMarketing and Leadership ConsultantWally DallenbachProfessional Motor Racing ExecutiveGlenn DavisChief Retail OfficerTerry FarinaAttorney at LawNorm FrankePresident, Front Range RegionL. Kristine GardnerFormer Banking ExecutivePeter N. GuyInvestmentsGlen JammaronVice Chairman/President, Alpine Banks of ColoradoThomas H. KenningChief Administration OfficerStan KornasiewiczInvestment ConsultantSteve ParkerColorado Banking LeaderR. Bruce RobinsonCHAIRMAN’S MESSAGEDecember 31, 2018The results of calendar year 2018 reflect thegreatest performance in virtually every category ofour 46 years of doing business. With total netearnings of nearly 55 million and total assets of 3.8 billion, we are encouraged that our favorablegrowth will continue.Our outside consulting firm, Sheshunoff andCompany, prepares quarterly, independentappraisals of Alpine Bank’s ‘A’ and ‘B’ shares for theEmployee Stock Ownership Plan. Their valuationon December 31, 2018, was 5,350 per share forboth classes of stock. This reflects an 8.9% increaseover December 2017’s valuation. While our growthin earnings and deposits would normally justify ahigher number, our comparison with publicly heldcompanies allows only a small increase over our3rd quarter appraisal.Our thanks to 145,000 loyal customers and ouroutstanding staff and management for yourcontinued loyalty and unparalleled communitysupport.Former Banking ExecutiveJoe ScofieldFormer Banking ExecutiveSincerely yours,H. David ScrubyFormer Banking ExecutiveRodney E. SliferVail RealtorWilliam B. Vollbracht(In Memoriam)J. Robert YoungChairman, Alpine Banks of ColoradoMargo Young-GardeyFormer Banking ExecutiveJ. Robert YoungChairman
ALPINE BANKS OF COLORADOTOTAL ASSETS (IN THOUSANDS)TWELVE MONTHS ENDED DECEMBER 31, 2018(UNAUDITED) 4,000,00020182017 3,500,000 151,4647,842143,622 131,1866,039125,147 3,000,0000-1,100 Dollars in thousands except per share data)Interest incomeInterest expenseNet interest incomeProvision for loan lossesNet interest income afterprovision for loan lossesOther incomeOther expense 2,500,000 1,500,000 1,000,000 500,000Income beforeincome taxesIncome taxes66,97012,11955,75622,122 012/31/2016Net income 54,851 33,634Per common share:Net incomeShareholders’ equity 521.732,822.69 317.682,438.86 2,500,000105,132105,874 2,000,000At December 31:Total assetsInvestment securitiesLoans, grossDepositsShareholders’ equity 3,744,403733,9742,440,3433,311,631296,755 3,514,694683,5122,277,9033,123,448258,212 1,500,000Investment assetsunder management 556,361 512,955Shares outstanding12/31/201712/31/2018TOTAL LOANS (IN THOUSANDS) 1,000,000 500,000 012/31/201612/31/201712/31/2018
RISK MANAGEMENTADMINISTRATIONBob YoungChairmanJanuary 1973Glen JammaronTom KenningVice Chairman/President Chief AdministrationMarch 1985OfficerSeptember 1995FINANCE/ACCOUNTINGDarlene LivseySecretary/TreasurerSeptember 1976Debbie LundinBanking OfficerFebruary 1994Karla FelkeyChief Risk OfficerJune 1980Keri HarwellTracy StanfieldChinella MozingoTim AdamsWanda St. PierreCindy BrownBrian FraserDan McCaslinKevin HaggertyAmanda MillerMelissa KnutsonExecutive Vice President Senior Vice President Assistant Vice PresidentSeptember 1996January 1994July 2000Lindsey StindtBanking OfficerJune 2016LEGALTaylor DunnBanking OfficerAugust 2016Eric GardeyPatrick McKibben Taylor SchleppChief Financial Officer Senior Vice President Assistant Vice PresidentSeptember 1989July 2006August 2012Adrienne RowberryBank AttorneyNovember 2018DIGITALHR / TRAININGAndrew KarowChief Digital OfficerFebruary 1997Kristi SheltonGena CooperExecutive Vice President Senior Vice PresidentMarch 1995November 2000Susie WrightVice PresidentAugust 2000Senior Vice PresidentMarch 1997Vice PresidentSeptember 1994Vice PresidentOctober 1994Kjerstin HillVice PresidentNovember 1996Barbara KoizolBanking OfficerJanuary 2014INFORMATION TECHNOLOGYJason HenselAssistant Vice PresidentDecember 2015WEALTH MANAGEMENTDoug MerrellExecutive Vice PresidentNovember 2014Rose FraserVice PresidentOctober 1988Ross BentzlerVice PresidentNovember 2004Tom SnyderVice PresidentFebruary 2008Jerome DoaneBanking OfficerAugust 2010PROGRAM MANAGEMENTTim KenczewiczExecutive VPJune 2017Doreen RobertsJeff MozingoVP/Director of InvestmentsMay 2018Vice PresidentJune 2007Kevin HartExecutive Vice President Senior Vice President Business Analytics DirectorApril 1984September 1998August 2018Lisa IsaacsonVice PresidentSeptember 2018Assistant Vice PresidentAugust 2007Banking OfficerFebruary 2016Vice PresidentNovember 2016Jesse BoppVice PresidentFebruary 2018
LOAN AND DEPOSIT OPERATIONSRachel Gerlach Ervalene Samuelson Tony BergmanChief Operations OfficerJune 1997Executive VPMay 1994Assistant Vice PresidentMarch 1994COMMERCIAL & INDUSTRIAL LENDINGMary ChavezVice PresidentNovember 2003Jeff BoardmanPhysical Security OfficerNovember 1998COMMERCIAL CREDIT MANAGEMENTTom KrabacherLaura BoundsExecutive Vice President Senior Vice PresidentFebruary 2005June 2007Lindsay NashScott ParrRyan GearhartDave RobertsSenior Vice President Assistant Vice PresidentAugust 2007May 2013PresidentDecember 2006PresidentJanuary 1994Cheri BrownChris MaughanAssistant Vice PresidentAugust 1994Dan NiedbalskiRegional PresidentNovember 2003Brenda BrockSenior Vice PresidentSeptember 1993Senior Vice PresidentJuly 2004Julie AllmonLee Ann BownAllison NadelKevin ChesneyJay RickstrewRegional PresidentAugust 1994Dean KinkelDavid MillerChief Retail Officer Executive Vice President Senior Vice PresidentJuly 1988October 1987January 2004Senior Vice PresidentOctober 2004Alan SandbergSusana SalamunVice PresidentDecember 2014Gary GomulinskiExecutive VPMay 2018Justin MengeSenior Vice PresidentNovember 2006Patti ChamberlainAssistant Vice PresidentJanuary 1997Jeremy RussellVice PresidentNovember 2011Freyja TroopBanking OfficerDecember 2018COLORADO RIVER VALLEYRETAILGlenn DavisChris HenryExecutive VPDecember 2017BOULDERLOAN OPERATIONSFarrah RobertsPresidentSeptember 1993MORTGAGECONSUMER LOANSVice PresidentJune 2000Tony ThompsonAssistant Vice President Assistant Vice President Latino Services OfficerApril 2002February 2005June 2013Jessica MillerVice PresidentJune 2000Vice PresidentNovember 2018Angela MerazJohn StelzriedeSenior VP/ManagerNovember 1994Senior VP/ManagerDecember 2017Jody BaehrLarry StewartBanking OfficerMarch 1998Banking OfficerNovember 2018Kent WilsonShelbi BauerSenior Vice President Vice President/ManagerJune 1998May 2011Tara BaireBanking OfficerFebruary 2013
FRONT RANGENorm FrankeROARING FORK VALLEYPresidentMay 1983Regional PresidentJanuary 2006Matt TeetersKarrie FletcherTatsiana MillerSean GatzenKari MundschauVice PresidentJuly 2001Vice PresidentMay 2012PresidentDecember 1996Vice PresidentMay 2016Charlie KerchevalTyler LyonsSteve BriggsPresidentDecember 2014Vice President/ManagerMay 2017Regional PresidentOctober 1974Rio ChaconPeter LorbieckiGarret JammaronVice PresidentSeptember 2017Banking OfficerJuly 2016Senior VP-ManagerMay 2008Bill WhitePresidentOctober 1998Dan MarkoyaSenior VP/ManagerJuly 2012Ian BaysPresidentOctober 2004Drew DetrickSenior VP/ManagerJuly 1989Mary RyersonExecutive VPNovember 1992Yuani RuizExecutive VPSeptember 2000Paulette Dangler Erlinda MoreheadSenior Vice PresidentNovember 1993Senior Vice PresidentFebruary 1999MESA COUNTYDoug PeateClay TuflyRegional PresidentJuly 1991Aaron MillerPresidentJuly 1999Trevor JohnsonNathan KnollExecutive Vice President Senior VP/ManagerAugust 2005July 2000Ben Van HooseSenior Vice PresidentMay 2006Vice President/ManagerMarch 2007Tara BunnellVice PresidentOctober 1996Brenda BryantVice PresidentFebruary 1999Scott BurnhamStefan RevealSenior Vice PresidentJanuary 2015Christine BostickJoe AmatoCarol DresserJenny SauerVice PresidentAugust 1991Vice PresidentNovember 2007Jean MooreMichelle BatesSenior Vice PresidentJanuary 2005Erkko AlmTom OliverPete YangSenior Vice PresidentJuly 2007Vice PresidentFebruary 2008Assistant Vice President Assistant Vice PresidentAugust 1990November 2011Vice PresidentSeptember 2007Michael Flohr Theresa AnuszewskiBanking OfficerDecember 2016eBanking OfficerJune 2014Banking OfficerSeptember 1993Banking OfficerFebruary 1994
SAN JUANMike BurnsRegional PresidentJuly 1997Dennis AlexanderSenior Vice PresidentDecember 2001Kye HallVice PresidentAugust 2017VAIL VALLEYEric EicherDanny CraftLaura SheltonBarbara WolfePresidentJune 1998PresidentAugust 2003Senior Vice President Vice President/ManagerSeptember 2007August 1999Audrey MortonAssistant Vice PresidentAugust 2005Jamie SaffBanking OfficerMay 1999Tyler DahlBeth DrumMike BrownRegional PresidentJanuary 1991PresidentMay 2007Senior Vice PresidentAugust 1996Todd BaizeLauren ZieselVice PresidentJanuary 2010Vice President/ManagerJune 1998Brad MeakinsRyan MarkeyZane GearhartVice PresidentDecember 2004Banking OfficerMarch 2016Banking OfficerDecember 2018Grant MurphyVice PresidentDecember 2013SUMMIT COUNTYTimothy HaleyMatthew HansonRegional PresidentOctober 2011Dan KapustkaBanking OfficerJanuary 2016Noel Hansen Brian Blankenmeister Robin HenleySenior Vice PresidentJuly 2001Senior VP/Manager Banking Officer/ManagerOctober 2005February 1999Emily SuuronenBanking OfficerDecember 2005eBanking OfficerSeptember 2014Michael GlassAdonna AllenDavid HighAdam AlspachPresidentJuly 1997Vice PresidentOctober 2006John GossVice PresidentOctober 2017PresidentAugust 1999Vice PresidentJune 2013Lily LewisAssistant Vice PresidentApril 2014Brian NestorJulie HerrAlice KlauzerAndrew ZabackEsgar AcostaMirjana RoweExecutive VP/Manager Senior Vice PresidentSeptember 2009June 2000Vice PresidentDecember 2002Banking OfficerNovember 2009Vice PresidentMarch 2012Banking OfficerSeptember 2012
LOCATIONSAspenAspen Business CenterAvonBasaltBattlement MesaBreckenridgeBoulderCarbondaleCliftonCopper MountainDeltaDenver - Cherry CreekDenvert - Tech CenterDenver - Union StationDillonDurangoDurango - Three SpringsEagleEdwardsFriscoFruitaGlenwood SpringsGlenwood Springs - WestGrand Junction - DowntownGrand Junction - Horizon DriveGrand Junction - Mesa MallGypsumMontroseMontrose - EastNew CastleOurayRidgwayRifleRifle - SouthSnowmass VillageSnowmass Village - MallSteamboat SpringsTellurideVailWillitsABOUT ALPINE BANK(970) 920-4800(970) 544-9400(970) 949-3333(970) 927-3101(970) 285-7100(970) 453-4929(303) 440-2982(970) 963-3040(970) 434-5600(970) 968-2154(970) 874-0922(303) 270-0101(303) 773-3086(303) 573-0709(970) 468-4701(970) 375-7689(970) 426-7166(970) 328-1666(970) 926-4811(970) 668-0186(970) 858-7473(970) 945-2424(970) 945-9700(970) 243-5600(970) 242-5700(970) 243-5200(970) 524-1666(970) 240-0900(970) 249-0400(970) 984-2600(970) 325-4200(970) 626-4100(970) 625-9610(970) 625-6650(970) 923-3600(970) 923-0060(970) 871-1901(970) 728-5050(970) 476-8700(970) 927-3653Locally operated and employee-owned, Alpine Bank makesdecisions based on you and your community. Every service we offeris designed by people who live here—like you. All the decisions aremade locally. All the impacts are local. When you use Alpine Bank,you can rest assured knowing that you are reinvesting in your owncommunity.OUR MISSIONTo help our customers, employees, shareholdersand community members achieve their dreams.OUR CORE VALUESIndependence Integrity Communities Compassion LoyaltyPERSONAL BUSINESS MORTGAGE WEALTH MANAGEMENT**Not FDIC Insured May Lose Value No Bank GuaranteeCUSTOMER SUPPORT800-551-6098ALPINE INFO LINE24-Hour Information Access in English or Spanish888-4-ALPINE (888-425-7463)ALPINE BANK MORTGAGE877-886-3171MERCHANT SERVICES877-995-9198ALPINE BANK FRAUD CENTER888-284-3778ALPINE BANK WEALTH MANAGEMENT877-808-7878
MERCHANT SERVICES 877-995-9198 ALPINE BANK FRAUD CENTER 888-284-3778 ALPINE BANK WEALTH MANAGEMENT 877-808-7878 Locally operated and employee-owned, Alpine Bank makes decisions based on you and your community. Every service we o er is designed by people who live here—like you. All t
