Welcome to our dedicated page for Nicolet Bankshares news (Ticker: NIC), a resource for investors and traders seeking the latest updates and insights on Nicolet Bankshares stock.
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 reported a first quarter 2023 net loss of $9 million compared to $28 million profit in Q4 2022. Earnings per diluted share fell to $0.61, down from $1.83 in the previous quarter. Despite the loss, core banking operations generated $22 million adjusted net income due to loan and wealth management growth. The company repositioned its balance sheet by selling $500 million in U.S. Treasuries, incurring a $38 million pre-tax loss but positioning for expected improvement in net interest income. At March 31, total assets decreased to $8.2 billion, with core deposits stable at $6.9 billion. Nonperforming assets were 0.50% of total assets. Nicolet anticipates improved earnings from these strategic moves and remains well-positioned for growth amid banking sector volatility.
Nicolet Bankshares reported a strong performance in Q4 2022 with a net income of $28 million or adjusted net income (non-GAAP) of $28 million, signifying growth from $19 million in Q3 2022 and $16 million in Q4 2021. For the year, net income reached a record $94 million compared to $61 million in 2021. Earnings per diluted share were $1.83 for Q4 and $6.56 for 2022. Total assets stood at $8.8 billion as of December 31, 2022, with loans increasing by 13% from Q3 2022. The company also faced challenges with net interest margins decreasing to 3.39% in Q4 due to rising costs associated with deposits and funding.
Nicolet Bankshares, Inc. (NYSE: NIC) reported third-quarter 2022 net income of $19 million, with earnings per diluted share at $1.29, down from $24 million and $1.73 in the previous quarter. Adjusted net income was $25 million. The Charter Bankshares acquisition closed on August 26, adding approximately $1.1 billion in assets. Assets totaled $8.9 billion, with a 20% increase in total loans. The annualized return on average assets was 0.93%.
In the first nine months of 2022, net income reached $67 million, compared to $44 million in the same period in 2021.
Nicolet National Bank has appointed Barry Martzahl as Managing Director of Nicolet Wealth Management, effective October 24, 2022. With 37 years of wealth management experience, Martzahl is recognized for his client service skills and has previously been acknowledged as one of Wisconsin's top financial advisors by Forbes and Barrons. His addition aims to enhance the team's success and coaching of younger professionals. Martzahl's son, Eric, also joins the team with eight years of experience as a Certified Financial Planner.
Nicolet Bankshares completed its merger with Charter Bankshares on August 30, 2022. This strategic move enhances Nicolet’s assets by approximately $1.1 billion, raising total assets to $8.5 billion. The merger also boosts total loans to $5.8 billion and deposits to $7.2 billion. Following the merger, Charter Bank's branches have transitioned to Nicolet National Bank, expanding its footprint in Western Wisconsin and Minnesota. CEO Mike Daniels emphasized the commitment to delivering strong community banking services.
FAQ
What is the current stock price of Nicolet Bankshares (NIC)?
What is the market cap of Nicolet Bankshares (NIC)?
What services does Nicolet Bankshares, Inc. provide?
How did Nicolet Bankshares perform in the third quarter of 2023?
Where is Nicolet Bankshares headquartered?
What was a recent major acquisition by Nicolet Bankshares?
What is the asset quality of Nicolet Bankshares?
Who are the key leaders of Nicolet Bankshares?
What distinguishes Nicolet National Bank in the market?
How does Nicolet Bankshares support local businesses?
What are Nicolet Bankshares' primary markets?
Where can I find more information about Nicolet Bankshares?
