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 (NIC) provides community-focused banking services through commercial lending, deposit solutions, and personalized financial products. This page aggregates official press releases and relevant news updates for investors and stakeholders.
Access timely updates on earnings announcements, leadership changes, strategic initiatives, and regulatory filings. Our curated collection ensures efficient tracking of material developments affecting NIC's position in the banking sector.
Key updates include quarterly financial results, merger & acquisition activity, product launches, and community impact initiatives. All content is sourced directly from company communications and verified financial publications.
Bookmark this page for streamlined access to NIC's latest developments. Check back regularly for authoritative updates on this Wisconsin-based bank's operations and market performance.
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.
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