Alpine Banks of Colorado issues $75 million in subordinated debt

Core Viewpoint - Alpine Banks of Colorado has successfully completed a private placement of $75 million in fixed-to-floating rate subordinated notes due 2035, aimed at strengthening its capital base and refinancing existing debt [1][2]. Group 1: Financial Details - The $75 million subordinated notes are structured to qualify as Tier 2 capital under bank regulatory guidelines [1]. - Proceeds from the notes will be used to redeem $50 million in subordinated notes due 2030 and for general corporate purposes [1]. - The notes can be redeemed in whole or in part on any interest payment date after November 21, 2030, subject to certain conditions [1]. Group 2: Strategic Implications - The completion of this subordinated debt offering is viewed as a strategic win for the company, enhancing its capital base and leveraging attractive financing options [2]. - The company aims to create long-term value for shareholders and is committed to improving the quality of life in Colorado [2]. Group 3: Company Overview - Alpine Banks of Colorado, through its subsidiary Alpine Bank, is an independent, employee-owned organization with $6.8 billion in assets and serves 170,000 customers [4]. - The bank has a five-star rating from BauerFinancial, indicating superior performance among financial institutions in the U.S. [4].