We constructed a linear, discrete-time, 3-age-class population model for peregrine falcons (Falco peregrinus anatum) in Colorado, USA, from estimates of survival and reproduction derived from banded birds (1973–2001) and monitored nests (1989–2001). Survival estimates were 0.544 ± 0.077 for 0–1-year-old birds, 0.670 ± 0.098 for 1–2 year olds, and 0.800 ± 0.054 for birds >2 years of age. Average young produced per pair was 1.660 (SE = 0.044), but we found considerable variation across years (minimum = 1.388 ± 0.155 in 1995; maximum = 2.122 ± 0.139 in 2000). The population model constructed from these estimates predicted an annual rate of population increase of 1.029 if females were to reproduce at 3 years of age, and 1.080 if they first reproduced at 2 years of age. With appropriate estimates of population parameters, our model provides a method for managers to estimate impacts of falconry harvest upon wild peregrine stocks.