BOARD OF DIRECTORS

Rev.04/2018

38 LOCATIONS FROM DENVER TO DURANGO

PERSONAL • BUSINESS • MORTGAGE • WEALTH MANAGEMENT**Not FDIC Insured • May Lose Value • No Bank Guarantee

Raymond T. BakerOwner, Real Estate Management Firm

Stephen BriggsRegional President, Roaring Fork Valley

John W. CooperMarketing and Leadership Consultant

Wally DallenbachProfessional Motor Racing Executive

Glenn DavisChief Retail O�cer

Terry FarinaAttorney at Law

Norm FrankeRegional President, Front Range Region

L. Kristine GardnerFormer Banking Executive

Peter N. GuyInvestments

Glen JammaronVice Chairman/President, Alpine Banks of Colorado

Thomas H. KenningChief Administration O�cer

Stan KornasiewiczInvestment Consultant

Steve ParkerColorado Banking Leader

R. Bruce RobinsonFormer Banking Executive

Joe Sco�eldPresident, Loss Mitigation

H. David ScrubyFormer Banking Executive

Rodney E. SliferVail Realtor

William B. VollbrachtTitle Company Executive

J. Robert YoungChairman, Alpine Banks of Colorado

Margo Young-GardeyFormer Banking Executive

CUSTOMER SUPPORT800-551-6098

ALPINE INFO LINE24-Hour Information Access in English or Spanish

888-4-ALPINE (888-425-7463)

ALPINE BANK MORTGAGE877-886-3171

ALPINE BANK WEALTH MANAGEMENT877-808-7878

STATEMENT OF CONDITION1ST QUARTER, ENDING MARCH 31, 2018

TRAILBLAZINGW I T H Y O U F O R 4 5 Y E A R S

CHAIRMAN’S MESSAGE ALPINE BANKS OF COLORADO

March 31, 2018

The �rst quarter of 2018 shows signi�cant growth. As we celebrate our 45th anniversary, we have begun the year with positive trends in all categories. Our outside consulting �rm, Sheshuno� and Company, prepares quarterly, independent appraisals of Alpine Bank’s ‘A’ and ‘B’ shares for the Employee Stock Ownership Plan. Their valuation on March 31, 2018 was $5,053 per share for both classes of stock. Our thanks to 130,000 loyal customers and outstanding sta� and management for your continued loyalty and unparalleled community support.

Sincerely yours,

J. Robert YoungChairman

TWELVE MONTHS ENDED MARCH 31, 2018(UNAUDITED)

Interest incomeInterest expense

Net interest income

Provision for loan losses

Net interest income afterprovision for loan losses

Other incomeOther expense

Income beforeincome taxes

Income taxes

Net income

Per common share:Net incomeShareholders’ equity

Shares outstanding

At March 31:Total assetsInvestment securitiesLoans, grossDepositsShareholders’ equity

Investment assetsunder management

35,2391,698

33,541

0

33,5418,792

28,023

14,3102,649

11,661

110.182,506.02

105,837

3,604,188698,615

2,295,4893,203,833

265,229

525,907

$

$

$

$

$

$

$

$

$

$

30,4381,372

29,066

-1,100

30,1668,004

25,030

13,1403,607

9,533

90.042,289.13

105,874

3,246,481664,197

2,094,8982,871,598

242,359

482,858

2018 2017(Dollars in thousands except per share data)