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Nicolet Bankshares, Inc. (symbol: NIC) is the bank holding company of Nicolet National Bank, a dynamic, full-service community bank with a mission to foster financial growth and success within the communities it serves. Established in November 2000 in Green Bay, Wisconsin, Nicolet National Bank has swiftly expanded its footprint across Wisconsin, Michigan, and Minnesota, boasting 56 branches and over 1,000 employees.
Core Business: Nicolet Bankshares is dedicated to providing a wide range of financial services tailored to both businesses and individuals. Its offerings include commercial lending, private banking, retail banking, and wealth management. The bank excels in delivering personalized solutions, whether it's multi-million dollar commercial loans, small personal loans, or comprehensive retirement plan services.
Financial Performance: For the third quarter of 2023, Nicolet reported a net income of $17 million and earnings per diluted common share of $1.14. This compares to a net income of $23 million for the second quarter of 2023. Despite the challenging economic environment, Nicolet's core operations remain robust, driven by top-line revenue growth and an increase in core deposits.
Recent Achievements: In 2022, Nicolet acquired Charter Bankshares, Inc., adding assets of $1.1 billion and expanding its market reach. The bank also announced a strategic balance sheet repositioning in the first quarter of 2023, aimed at enhancing financial stability and operational efficiency.
Community and Customer Focus: Nicolet National Bank prides itself on its commitment to customer service and community involvement. The bank's staff of experienced bankers offers localized decision-making and competitive financial solutions, fostering long-term relationships and trust within the community.
Partnerships and Projects: Nicolet continues to collaborate with local businesses and agricultural enterprises, providing essential banking services such as commercial real estate financing, construction loans, and cash management services. The bank's proactive approach to understanding and meeting the financial needs of its clients has solidified its reputation as a trusted community partner.
Asset Quality: As of September 30, 2023, Nicolet's total assets stood at $8.4 billion, with nonperforming assets representing 0.37% of total assets. The bank maintains a strong asset quality profile, with negligible loan net charge-offs and a solid allowance for credit losses.
Executive Leadership: Co-founders Robert Atwell and Mike Daniels have been pivotal in Nicolet's growth. Effective January 1, 2024, Atwell will transition from his role as Executive Chairman but will remain a director. Daniels, the current President and CEO, is expected to be elected Chairman of the Board, ensuring continuous strategic leadership.
For more information on Nicolet Bankshares, Inc., visit www.nicoletbank.com.
Nicolet Bankshares, Inc. (NYSE: NIC) reported strong third quarter 2024 results with net income of $33 million and earnings per diluted common share of $2.10. This represents an increase from the previous quarter's net income of $29 million and the third quarter 2023's $17 million. For the first nine months of 2024, net income reached $90 million.
Key highlights include:
- Tangible common equity to tangible assets increased 64 bps to 9.21%
- Asset quality improved with nonperforming assets declining to 0.31% of total assets
- Net interest margin rose to 3.44%, up 9 bps from the previous quarter
- Total loans increased by $28 million and total deposits grew by $19 million
- Noninterest income increased by $3 million over the previous quarter
Nicolet Bankshares, Inc. (NYSE: NIC) has announced a quarterly cash dividend of $0.28 per share for its common stock shareholders. The dividend is set to be paid on September 16, 2024, to shareholders of record as of September 3, 2024. This declaration by Nicolet's Board of Directors demonstrates the company's commitment to providing regular returns to its investors. The dividend announcement may be seen as a positive signal of the bank's financial health and confidence in its future performance.
Nicolet Bankshares (NYSE: NIC) reported strong Q2 2024 results with net income of $29 million, up from $28 million in Q1 2024 and $23 million in Q2 2023. Earnings per diluted share reached $1.92, compared to $1.82 in Q1 2024 and $1.51 in Q2 2023. The company saw solid loan growth of $132 million (2%) and an increase in core deposits. Key highlights include:
- Net interest income rose to $65 million, up $3 million from Q1 2024
- Net interest margin improved to 3.35%, up 9 bps from Q1 2024
- Noninterest income remained stable at $20 million
- Asset quality remained strong with nonperforming assets at 0.34% of total assets
- Quarterly cash dividend increased by 12% to $0.28 per common share
The company's performance demonstrates resilience in the face of market headwinds, with improvements in core business lines and strategic positioning for continued growth.
Nicolet Bankshares (NYSE: NIC) has announced a quarterly cash dividend of $0.28 per share, marking a 12% increase from the previous quarter's dividend of $0.25. This decision highlights the Board of Directors' confidence in the company's financial health and commitment to delivering shareholder value. The dividend will be payable on June 14, 2024, to shareholders of record as of June 3, 2024.
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