Welcome to our dedicated page for Nicolet Bankshar news (Ticker: NIC), a resource for investors and traders seeking the latest updates and insights on Nicolet Bankshar stock.
Nicolet Bankshares, Inc. (NYSE: NIC) is a financial holding company and parent of Nicolet National Bank, a full-service community bank offering commercial, agricultural and consumer banking, as well as wealth management and retirement plan services. This news page aggregates company announcements, earnings updates and other disclosures related to Nicolet’s operations and strategy.
Recent Nicolet news has included quarterly and annual earnings releases detailing net income, net interest margin, loan and deposit trends, asset quality metrics and capital levels. The company regularly reports on balance sheet developments such as growth in loans, changes in core and brokered deposits, and nonperforming asset levels, along with commentary on its community banking performance.
Investors and followers of NIC can also find news on capital management actions, including common stock repurchases and quarterly cash dividends declared by the board of directors. Nicolet’s communications frequently describe the use of non-GAAP financial measures and provide context for profitability and capital ratios.
A major recent development covered in Nicolet’s news and SEC filings is the announced definitive merger agreement with MidWestOne Financial Group, Inc., under which MidWestOne will merge with and into Nicolet in an all-stock transaction, subject to shareholder and regulatory approvals and other customary closing conditions. Company releases outline expected pro forma asset size, deposits, loans and branch footprint for the combined organization.
By following this NIC news feed, readers can review earnings press releases, dividend announcements, transaction updates and other corporate communications that shape the ongoing story of Nicolet Bankshares, Inc. and its community banking franchise.
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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.