Alpine Banks of Colorado (OTCQX:ALPIB) President Glen Jammaron joined Steve Darling from Proactive to discuss the bank's 50-year history and significant growth in a New York City interview. Starting in a small Colorado town in 1973, the bank expanded to Aspen, Denver, and Telluride. Over the last decade, assets have surged to $6.5 billion, reflecting the appeal of communities they serve.
Despite traditional banking roots, Jammaron acknowledged the impact of rising interest rates on margins in the past year. Addressing online banking trends, he noted continuous growth in the use of digital services but emphasized the bank's commitment to fostering meaningful relationships beyond online interactions. Looking ahead to 2024, the CEO anticipates modest loan demand growth, targeting a 5% increase, while prioritizing a 10% rise in core deposits. Jammaron also shared insights on Alpine Bank's journey into the OTC market, highlighting its role in creating liquidity for long-term shareholders while maintaining the bank's independence.