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 December 31, 2007
For our 20th successive year, we are pleased to report a year with an increase in earnings, deposits, and loans. During 2007 we opened new locations in Frisco, Rifle, and Delta. We believe all of these three will reflect positively on the bottom line in future years. We have also secured locations in four other western Colorado communities for future expansion.
As we celebrate our 35th anniversary in January, we continue to be reminded that volatile economic conditions do not guarantee increasing success without occasional setbacks. While we believe we will have another positive outcome for 2008, we know that it will not be easy nor will it be automatic.
Our outside consulting firm, Sheshunoff & Company, prepares quarterly, independent valuations of Alpine Bank ‘A’ and ‘B’ shares for the employee stock ownership plan. Their preliminary evaluation on January 9th, 2008 was $3,940 per share for both classes of stock.
We give our humble thanks to our loyal customers, outstanding staff, and management for a great 35 years. With the same continuous ownership and upper management, we plan to continue our community banking style for many years into the future.
Sincerely,
J. Robert Young
Chairman
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