Financial Data and Key Metrics Changes - The company reported a return on equity (ROE) of 13.2% for 2025, exceeding initial guidance [5] - Total income reached a record level for the third consecutive year, driven by strong commercial growth and fee income [6][29] - Net profit for the year was over EUR 6.3 billion, contributing almost two percentage points to the CET1 ratio [9] Business Line Data and Key Metrics Changes - Retail banking contributed EUR 11.3 billion in the fourth quarter, with net core lending growth of EUR 10.1 billion, primarily from residential mortgages [4][5] - Wholesale banking added EUR 10.3 billion in net core lending, supported by strong demand for lending and working capital solutions [4] - Fee income grew by 15% for the full year, driven by customer growth and increased cross-selling [5][6] Market Data and Key Metrics Changes - The company added over 350,000 mobile primary customers in the fourth quarter, totaling over 1 million for the year [4] - Deposits increased by EUR 38.1 billion for the full year, representing a 5.5% growth [4] - The company maintained its number one position in five out of ten retail banking markets [8] Company Strategy and Development Direction - The company aims to grow and diversify income by adding more customers and enhancing product offerings, including a subscription model for retail clients [12][13] - There is a focus on improving operational leverage through scaling processes and technology, including the use of Gen AI [13] - The company plans to maintain a 50% payout policy for shareholder returns while investing in growth and considering M&A opportunities [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a total income of around EUR 24 billion for 2026, supported by continued volume growth and a projected 5%-10% increase in fee income [15][16] - The outlook for 2027 has been upgraded, with total income expected to exceed EUR 25 billion [16] - Management highlighted the importance of balancing loan and deposit growth while maintaining cost discipline [34] Other Important Information - The company announced additional distributions totaling EUR 3.6 billion, contributing to a higher shareholder return [10] - The CET1 ratio was impacted by a EUR 1.6 billion distribution, but the company remains committed to maintaining a target ratio around 13% [26] Q&A Session Summary Question: Guidance on total income and growth assumptions - Management confirmed a 5% balance growth assumption for guidance, indicating confidence in achieving targets based on Q4 performance [31] Question: Loan versus deposit growth balance - Management acknowledged the need to balance loan and deposit growth but noted that fluctuations are acceptable in the short term [33][34] Question: Cost outlook and incidentals - Management indicated that while cost discipline is a priority, incidental costs may still arise, but they aim to minimize these in the future [36] Question: M&A strategy and market opportunities - Management expressed openness to M&A opportunities that align with growth strategies and enhance local scale and diversification [39] Question: Lending margin improvements - Management reported stable or increasing lending margins across several markets, with some pressure noted in the Netherlands [56]

Core Points - Alpine Banks of Colorado announced the results of an exchange offer to exchange up to 800,000 Class A common stock shares for newly-issued Class B common stock on a one-for-one basis [1] - As of January 16, 2026, a total of 790,791 Class A Shares were validly tendered, and the company accepted all validly tendered shares, issuing the same number of Class B Shares on January 26, 2026 [2] - Following the exchange, the company had 7,025,409 Class A Shares and 8,937,309 Class B Shares outstanding as of January 27, 2026 [2] Company Overview - Alpine Banks of Colorado is an independent, employee-owned organization with total assets of $6.8 billion, founded in 1973 and headquartered in Glenwood Springs, Colorado [4] - The bank employs 890 people and serves approximately 170,000 customers, offering a range of services including personal, business, wealth management, mortgage, and electronic banking [4] - The bank has received a five-star rating from BauerFinancial, indicating superior performance among financial institutions in the U.S. [4]

Core Viewpoint - Alpine Banks of Colorado announced the successful completion of an exchange offer, where 790,791 Class A shares were exchanged for Class B shares on a one-for-one basis, resulting in a total of 8,937,309 Class B shares outstanding as of January 27, 2026 [1][2]. Company Overview - Alpine Banks of Colorado is an independent, employee-owned organization founded in 1973, with total assets of $6.8 billion and headquartered in Glenwood Springs, Colorado [4]. - The company employs 890 people and serves approximately 170,000 customers, offering a range of services including personal, business, wealth management, mortgage, and electronic banking across Colorado [4]. - The Class B stock of Alpine Banks trades under the symbol "ALPIB" on the OTCQX® Best Market [4].

Core Viewpoint - Alpine Banks of Colorado has appointed Glen Jammaron as the new CEO and chairman, succeeding the late founder J. Robert "Bob" Young, who served for 53 years [1][2]. Company Overview - Alpine Banks of Colorado, through its subsidiary Alpine Bank, is an independent, employee-owned organization with assets of $6.8 billion, founded in 1973 and headquartered in Glenwood Springs, Colorado [3]. - The bank employs 890 people and serves approximately 170,000 customers, offering personal, business, wealth management, mortgage, and electronic banking services across Colorado [3]. - Alpine Bank has received a five-star rating from BauerFinancial, indicating superior performance among financial institutions in the U.S. [3]. Leadership Transition - Glen Jammaron has been with Alpine Bank for 40 years, previously serving as president and vice chairman, and aims to continue the legacy of community banking established by Bob Young [2]. - Jammaron expressed commitment to maintaining the bank's focus on serving Colorado communities as an independent, employee-owned institution [2].

Core Insights - The passing of J. Robert "Bob" Young marks a significant loss for Alpine Bank and the community, as he was a pivotal figure in its establishment and growth [2][4][5] - Young's legacy includes a commitment to community service, employee ownership, and a culture of integrity within the bank [3][5][6] Company Overview - Alpine Bank, founded in 1973, has grown to become a respected financial institution in Colorado with 39 locations and $6.8 billion in assets [3][6] - The bank employs 890 people and serves approximately 170,000 customers, offering a range of financial services [6] Leadership and Impact - Bob Young's leadership philosophy emphasized caring for others and community connection, which has shaped the bank's mission [2][5] - Young's initiatives included the introduction of an employee stock ownership plan (ESOP) in 1983, fostering employee investment in the bank's future [3] Community Engagement - Young was actively involved in community service and philanthropy, notably through the creation of the Alpine Bank First-Generation Scholarship, benefiting over 300 college students [4] - His contributions extended to leadership roles in the Colorado Bankers Association and the Colorado state banking board [4] Legacy and Future - The values instilled by Young continue to guide Alpine Bank, ensuring a commitment to community service and integrity [5] - The bank's five-star rating from BauerFinancial reflects its superior performance in the financial sector [6]

Core Viewpoint - Alpine Banks of Colorado announced the planned retirement of board members Linda Childears and Steve Briggs, who will continue to serve until the 2026 annual meetings [1][5]. Group 1: Leadership Contributions - Steve Briggs has had a 45-year career at Alpine Bank, starting as a teller and eventually becoming president of multiple branches, including the Aspen branch [2][3]. - Linda Childears joined the board in July 2020, bringing extensive banking and nonprofit leadership experience, including roles at the Daniels Fund and Young Americans Bank [3][4]. Group 2: Community Involvement - Briggs has been actively involved in various community organizations, emphasizing the bank's commitment to serving the Roaring Fork Valley [3]. - Childears has served on numerous nonprofit boards in the Denver metro area, highlighting her dedication to community service [4]. Group 3: Future Leadership - The company is focused on identifying new leaders to join the boards of both the Company and Alpine Bank, ensuring alignment with their vision and values [5][6]. - Alpine Bank aims to maintain its commitment to Colorado communities through its leadership selection process [6]. Group 4: Company Overview - Alpine Banks of Colorado is an independent, employee-owned organization with $6.8 billion in assets, founded in 1973, and headquartered in Glenwood Springs, Colorado [6]. - The bank employs 890 people and serves 170,000 customers across various banking services, holding a five-star rating from BauerFinancial [6].

Core Viewpoint - Alpine Banks of Colorado has announced an exchange offer for up to 800,000 shares of Class A common stock for newly issued Class B common stock on a one-for-one basis, aimed at enhancing marketability for shareholders [1][2]. Group 1: Exchange Offer Details - The exchange offer will begin on December 12, 2025, and will expire at 5:00 p.m. Mountain Time on January 16, 2026, unless extended [3]. - If the exchange offer is oversubscribed, Class A Shares will be exchanged on a pro rata basis, and no fractional Class B Shares will be issued [1][2]. Group 2: Marketability and Shareholder Benefits - The lack of a publicly traded market for Class A Shares limits their marketability, while Class B Shares are listed on the OTCQX Best Market, providing better opportunities for sale [2]. - The exchange offer is expected to support the interests of shareholders, employee owners, and the communities served by the bank [3]. Group 3: Regulatory Compliance - The company is relying on Section 3(a)(9) of the Securities Act of 1933 to exempt the Class B Shares from registration requirements, ensuring no commissions are paid for soliciting the exchange [4]. Group 4: Company Overview - Alpine Banks of Colorado is an independent, employee-owned organization with $6.8 billion in assets, founded in 1973, and serves 170,000 customers across Colorado [6]. - The bank employs 890 people and offers a range of services including personal, business, wealth management, mortgage, and electronic banking [6].

Core Points - James Beckwith, President and CEO of Five Star Bancorp, has been named Sacramentan of the Year by the Sacramento Metropolitan Chamber of Commerce for his two decades of leadership and community investment [1][2] - Under Beckwith's leadership, Five Star Bank has received multiple awards, including the Sacramento Business Journal's Corporate Champion of the Year and the Greater Sacramento Economic Council's Sustainability Award [3] - Five Star Bank has expanded its operations into San Francisco's Financial District in 2024 and Walnut Creek in 2025, enhancing its business banking services [5] Company Achievements - Five Star Bank has been recognized as one of S&P Global Market Intelligence's Top 3 Best-Performing Community Banks in the nation, with assets between $3 billion and $10 billion [7] - The bank received the 2024 Raymond James Community Bankers Cup and was listed among Piper Sandler's Sm-All Stars for 2023 and 2024 [7] - In 2025, Five Star Bank ranked 4 among U.S. banks with assets less than $5 billion by Bank Director Magazine's RankingBanking [7] Community Involvement - Beckwith has significantly supported non-profit organizations in the Greater Sacramento Region, including Saint John's Program for Real Change and Sacramento Regional Conservation Corps [4] - The bank has invested in local educational institutions, such as Cristo Rey High School and Capital College & Career Academy, to foster the next generation of leaders [4] - Beckwith serves on several boards, including the Greater Sacramento Economic Council and the California Bankers Association, advocating for economic development [4]

Core Points - Five Star Bancorp's President and CEO, James Beckwith, has been named Sacramentan of the Year by the Sacramento Metropolitan Chamber of Commerce for his significant contributions to the Capital Region over the past 20 years [1][2][3] Company Achievements - Under Beckwith's leadership, Five Star Bank has received multiple awards, including the Sacramento Business Journal's Corporate Champion of the Year and the Greater Sacramento Economic Council's Sustainability Award [3] - The bank has been recognized as one of S&P Global Market Intelligence's Top 3 Best-Performing Community Banks in the nation, and it received the 2024 Raymond James Community Bankers Cup [7] - In 2025, Five Star Bank was ranked 4 among U.S. banks with assets less than $5 billion by Bank Director Magazine [7] Community Involvement - Beckwith has actively supported various non-profit organizations and educational institutions, including Cristo Rey High School and Capital College & Career Academy [4] - He serves on several boards, including the Greater Sacramento Economic Council and the California Bankers Association, promoting economic development in the region [4] Expansion Efforts - In 2024, Five Star Bank expanded into San Francisco's Financial District, followed by an expansion into Walnut Creek in 2025, enhancing its business banking services [5]

Core Viewpoint - Alpine Banks of Colorado reported strong financial results for the third quarter of 2025, with net income of $18.5 million, reflecting growth in return on assets (ROA) and return on equity (ROE) as well as earnings per share and book value per share [1][2]. Financial Performance - Net income for Q3 2025 was $18.5 million, up from $17.6 million in Q2 2025 [2]. - Interest income increased by $2.3 million in Q3 2025 compared to Q2 2025, driven by higher yields and increased loan volume [2]. - Noninterest income rose by $0.5 million in Q3 2025, mainly due to higher service charges on deposit accounts [2]. - Noninterest expense increased by $0.7 million in Q3 2025, primarily due to higher salary and employee benefit expenses [2]. - A provision for loan losses of $1.7 million was recorded in Q3 2025, slightly up from $1.6 million in Q2 2025 [2]. Year-to-Date Performance - For the nine months ended September 30, 2025, net income was $50.5 million, compared to $35.9 million for the same period in 2024 [3]. - Interest income for the first nine months of 2025 increased by $12.5 million compared to the same period in 2024 [3]. - Noninterest income increased by $1.7 million year-over-year, primarily from bank-owned life insurance earnings and service charges [3]. - Noninterest expense rose by $7.0 million compared to the first nine months of 2024 [3]. Asset and Loan Growth - Total assets increased by $212.8 million, or 3.2%, to $6.82 billion as of September 30, 2025 [5]. - Loans outstanding totaled $4.2 billion as of September 30, 2025, reflecting a $34.1 million increase during Q3 2025 [7]. - Year-over-year, loans outstanding increased by $216.1 million, or 5.3%, compared to $4.0 billion on September 30, 2024 [8]. Deposit Trends - Total deposits increased by $184.6 million, or 3.1%, to $6.1 billion during Q3 2025 [9]. - Year-over-year, total deposits increased by $187.1 million, or 3.2%, compared to $5.9 billion on September 30, 2024 [10]. - Noninterest-bearing demand accounts comprised 31.7% of all deposits as of September 30, 2025, up from 29.9% on June 30, 2025 [9]. Capital Position - The Bank is designated as "well capitalized," with a Tier 1 Leverage Ratio of 10.02% and a Total Risk-Based Capital Ratio of 15.47% as of September 30, 2025 [11]. - The Company's consolidated Tier 1 Leverage Ratio was 9.75% as of September 30, 2025 [11]. Shareholder Returns - The Company paid cash dividends of $0.21 per Class A and Class B common shares during Q3 2025 [13].