NCBS - NCBS STOCK NEWS

Nicolet Bankshares, Inc. (NASDAQ: NCBS) has appointed Héctor Colón to its Board of Directors as of July 20, 2021. Colón, the President and CEO of Lutheran Social Services of Wisconsin and Upper Michigan, is recognized for his leadership in transforming the organization into a financially stable entity, achieving a surplus of $12.4 million in three years. Executive Chairman Bob Atwell praised Colón's extensive experience in leadership roles across various sectors and his track record as a champion boxer, highlighting his potential contribution to Nicolet's ongoing success.

Nicolet Bankshares will acquire County Bancorp in a strategic merger valued at approximately $219 million. The combined entity will have pro forma total assets of $7.5 billion, deposits of $6.3 billion, and loans of $4.9 billion. County shareholders may receive either $37.18 in cash or 0.48 shares of Nicolet stock. The deal aims to enhance agricultural lending capabilities, particularly in Wisconsin's dairy sector. Pending regulatory and shareholder approvals, the merger is expected to finalize in the fourth quarter of 2021.

Nicolet Bankshares, Inc. (NASDAQ: NCBS) announced the appointment of Phil Moore as Chief Financial Officer, effective June 7, 2021. Moore, an experienced accountant and auditor with a background in community banks, previously served at Wipfli LLP and Porter Keadle Moore, LLC. President and CEO Mike Daniels expressed enthusiasm about Moore's leadership skills and community-focused banking approach. Nicolet, founded in 2000, offers a range of banking services across Wisconsin and Michigan.

Nicolet Bankshares, Inc. (NASDAQ: NCBS) announced a leadership change, naming Mike Daniels as President and Chief Executive Officer and Bob Atwell as Executive Chairman, effective immediately. This restructuring reflects the ongoing partnership and roles that have evolved since the company's inception. Atwell expressed optimism for Nicolet's future, emphasizing Daniels' leadership in integrating acquisitions. The bank continues to focus on serving customers and communities while nurturing talent throughout the organization. The company also warns about potential impacts from the ongoing COVID pandemic.

Nicolet Bankshares, Inc. (NASDAQ: NCBS) reported a net income of $18.2 million for Q1 2021, slightly up from $18.0 million in Q4 2020 and significantly higher than $10.6 million in Q1 2020. Earnings per share rose to $1.75, showcasing solid performance driven by strong mortgage income and effective expense control. The annualized return on average assets improved to 1.64%. Total assets remained stable at $4.5 billion. The company also announced a merger with Mackinac Financial Corporation, expected to enhance regional presence. Nonperforming assets declined, indicating improved asset quality.

Nicolet Bankshares (NASDAQ: NCBS) has entered into a definitive merger agreement to acquire Mackinac Financial Corporation (NASDAQ: MFNC) and its subsidiary, mBank. The deal, valued at approximately $248 million, will see Mackinac shareholders receiving 0.22 shares of Nicolet's common stock plus $4.64 per share. Following the merger, the combined entity will have $6.1 billion in assets, with Mackinac representing about 25%. The merger aims to strengthen community banking in Northern Michigan and enhance shareholder value. The expected closing date is the third quarter of 2021, pending shareholder and regulatory approval.

Nicolet Bankshares reported a fourth quarter 2020 net income of $18.0 million and earnings per diluted share of $1.74, slightly up from $1.72 in the previous quarter. For the full year, net income reached $60.1 million, a 10% increase compared to $54.6 million in 2019. The bank's assets grew to $4.6 billion, driven by a 36% rise in average assets, while secondary mortgage income hit a record $30 million. Challenges included a higher provision for credit losses of $9 million and a declining return on average assets to 1.41%.

Nicolet Bankshares, Inc. (NASDAQ: NCBS) reported a strong third quarter 2020 with net income of $18.1 million and earnings per diluted share of $1.72, up from $13.5 million and $1.28 in Q2 2020. Year-to-date net income totaled $42.1 million, compared to $42.3 million in the prior year, excluding nonrecurring items. The bank maintained a $3 million loan loss provision amid COVID-19 challenges. Total assets grew to $4.7 billion, aided by the Advantage acquisition, while net interest margin fell to 3.06%. Strong mortgage income contributed significantly to earnings.

Nicolet Bankshares, Inc. (NASDAQ: NCBS) reported a second quarter 2020 net income of $13.5 million, up from $10.6 million in Q1 2020, but down from $18.5 million in Q2 2019. Earnings per diluted share rose to $1.28 from $0.98 in Q1 2020, down from $1.91 in Q2 2019. Total assets now exceed $4.5 billion, bolstered by $340 million in PPP loans supporting around 40,000 jobs. The company announced plans to permanently close 7 branches, which will save approximately $3 million annually. Costs related to these closures totaled $1.7 million in Q2 2020. The outlook remains cautious due to ongoing economic uncertainty.