Every material Form 8-K Nicolet Bankshares has filed with the SEC since January 16, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Nicolet Bankshares reported third quarter 2026 net income of $64 million, or $2.96 per diluted share, up from $57 million and $2.62 in the second quarter. The company also declared a quarterly cash dividend of $0.36 per share, payable December 15, 2026, and said it completed the MidWestOne integration and core systems conversion and the Denver branch sale.
Net income $64 million and diluted EPS $2.96 for Q3 2026, versus $57 million and $2.62 in Q2 2026; core diluted EPS (non-GAAP) was $3.15 versus $2.99.
Net interest margin was 4.19% for Q3 2026, up from 4.14% in Q2 2026.
Quarterly cash dividend of $0.36 per share, payable December 15, 2026, to shareholders of record as of December 1, 2026.
Common stock repurchases of $40 million in Q3 2026; merger-related expense fell to $4.6 million from $7.4 million in Q2 2026.
Nicolet Bankshares reported second quarter 2026 net income of $57 million, or $2.62 per diluted share, up from $15 million, or $0.81 per share, in the first quarter, when merger-related expenses were larger. The company also declared a $0.36 quarterly dividend payable September 15, 2026, and said it repurchased $40 million of its common stock during the quarter. Results include a full quarter of MidWest One following the February 13, 2026 acquisition.
Net income of $57 million and diluted EPS of $2.62 for Q2 2026, versus $15 million and $0.81 in Q1 2026; core diluted EPS (non-GAAP) was $2.99
Net interest margin rose to 4.14% from 3.98% in Q1 2026; merger-related expense fell to $7.4 million from $40.7 million
Repurchased 267,310 shares for $40 million in Q2 and authorized $150 million in additional repurchases
Quarterly dividend of $0.36 per share, payable September 15, 2026, to holders of record as of September 1, 2026; Denver branch sale to Sunwest Bank expected to close in Q3 2026
Nicolet Bankshares reported first quarter 2026 net income of $15 million, or $0.81 per diluted share, down from $40 million, or $2.65 per diluted share, in the fourth quarter of 2025. Excluding non-core items, mostly merger-related expenses, core diluted earnings per share were $2.75, compared with $2.73 in the prior quarter. The company also raised its quarterly dividend 13% to $0.36 per share and agreed to sell MidWestOne's Denver branches to Sunwest Bank.
GAAP net income was $15 million and diluted EPS was $0.81 for Q1 2026, versus $40 million and $2.65 in Q4 2025.
Merger-related expense was $40.7 million in Q1 2026; core diluted EPS was $2.75 versus $2.73 in Q4 2025.
The quarterly dividend rose $0.04 to $0.36 per share, payable June 15, 2026, to holders of record as of June 1, 2026.
Denver branch sale to Sunwest Bank involves about $390 million in loans and $380 million in deposits, with closing expected in third quarter 2026.
Nicolet Bankshares completed its merger with MidWest One Financial Group effective February 13, 2026, with MidWest One merging into Nicolet and issuing about 6.6 million Nicolet shares to MidWest One holders. The company said the deal adds about $6 billion in assets, raising total assets to about $15 billion, and the board was expanded to twelve members with four former MidWest One directors joining.
Merger effective February 13, 2026; each MidWest One share converted into 0.3175 Nicolet shares
About 6.6 million Nicolet shares issued, valued at $155.19 per share based on the February 13, 2026 NYSE closing price
Board set at twelve members: eight Nicolet directors and four former MidWest One directors (Tracy S. McCormick, Carl J. Chaney, Janet E. Godwin, Matthew J. Hayek)
MidWest One Bank will operate as a division until a planned system conversion in August 2026
Nicolet Bankshares shareholders approved the merger with MidWest One and the related share issuance at a special meeting on January 26, 2026, and also approved raising authorized common shares from 30,000,000 to 60,000,000. The company said it has received all regulatory approvals, expects to complete the merger on February 13, 2026, if other closing conditions are met, and its board approved a $60 million increase to its stock repurchase authorization.
Merger proposal: 10,229,249 votes for, 48,210 against, 18,945 abstain, and 1,257,200 broker non-votes
Authorized share increase approved: 11,240,298 for and 267,339 against
Repurchase authorization raised by $60 million; about $19 million remained available at December 31, 2025
Equity awards of 101,000 restricted stock units with $13 million aggregate grant-date value; Michael E. Daniels received 20,000
Nicolet Bankshares reported record full-year 2025 net income of $151 million and diluted earnings per share of $9.78, up 21.5% from 2024. Fourth-quarter net income of $40 million was slightly below the third quarter, and the board declared a $0.32 quarterly dividend. The company said it expects to close its proposed merger with MidWest One Financial Group in the first quarter, subject to regulatory and shareholder approvals.
Full-year 2025 net income was $151 million, versus $124 million in 2024; diluted EPS was $9.78, versus $8.05.
Fourth-quarter 2025 net income was $40 million and diluted EPS $2.65, down from $42 million and $2.73 in third quarter 2025, and up from $34 million and $2.19 in fourth quarter 2024.
Full-year net interest margin was 3.76%, up 29 basis points from 3.47% in 2024.
Quarterly cash dividend of $0.32 per share is payable March 16, 2026, to shareholders of record as of March 2, 2026.
Nicolet Bankshares and MidWest One Financial Group signed a merger agreement under which MidWest One will merge into Nicolet in an all-stock transaction. MidWest One shareholders would receive 0.3175 of a Nicolet share for each MidWest One share, and the shares issued are expected to make up 30% of the combined company, so existing Nicolet shareholders would hold a smaller share of the company after closing. The deal requires approval from both companies' shareholders and regulatory approvals, and the companies expect it to close in the first half of 2026.
Exchange ratio of 0.3175 Nicolet share per MidWest One share, valued at about $41.37 per share based on Nicolet's $130.31 close on October 22, 2025
Aggregate merger consideration valued at approximately $864 million
Combined company's pro forma total assets are $15.3 billion as of September 30, 2025; MidWest One shareholders would own 30% of the combined company
Expected closing in the first half of 2026; joint conference call set for 9:00 a.m. Central Time on October 24, 2025
Nicolet Bankshares reported third quarter 2025 net income of $42 million, or $2.73 per diluted share, up from $36 million and $2.34 in the second quarter and from $33 million and $2.10 in the third quarter of 2024. Higher net interest income and a 3.86% net interest margin drove the results, and the company repurchased $21 million of its stock during the quarter.
Net income of $42 million versus $36 million in Q2 2025 and $33 million in Q3 2024
Diluted EPS of $2.73 versus $2.34 in Q2 2025 and $2.10 in Q3 2024
Net interest margin of 3.86%, up 14 basis points from 3.72% in Q2 2025
Repurchased 155,393 common shares for $21 million in Q3 2025
Nicolet Bankshares' Chairman, President and CEO Mike Daniels agreed to extend his planned leadership through the end of 2030. The board approved an equity award to him with a grant date value of $12 million, part of which vests only if performance targets on peer-relative return on average assets and cumulative earnings per share are met.
Daniels agreed to extend his planned leadership through the end of 2030, per a September 8, 2025 press release
Equity award of up to 90,000 shares: 30,000 restricted shares cliff vest after 5 years of service through December 31, 2030
Up to 60,000 restricted stock units vest on performance over a 5-year period starting January 1, 2026, tied to peer-bank ROAA percentiles and cumulative EPS targets
Grant date value of the award is $12 million, recognized over 2026 to 2030
Nicolet Bankshares reported record quarterly net income of $36 million for the second quarter of 2025, up from $33 million in the first quarter and $29 million a year earlier, with diluted EPS of $2.34. Net interest margin rose to 3.72% and the company repurchased $30 million of common stock during the quarter.
Q2 2025 net income $36 million vs. $33 million in Q1 2025 and $29 million in Q2 2024
Diluted EPS $2.34 vs. $2.08 in Q1 2025 and $1.92 in Q2 2024
Net interest margin 3.72%, up 14 bps from 3.58% in Q1 2025
Repurchased 257,402 common shares for $30 million in Q2 2025
Nicolet Bankshares reported first quarter 2025 net income of $33 million, or $2.08 per diluted share, down from $34 million and $2.19 in the fourth quarter of 2024 but up from $28 million and $1.82 in the first quarter of 2024. The company also approved a $60 million increase to its stock buyback authorization on April 15, 2025, which it said is the best use of capital in its view, and it repurchased 233,207 shares for $26 million during the quarter.
Net income $33 million and diluted EPS $2.08 for Q1 2025, versus $34 million and $2.19 in Q4 2024 and $28 million and $1.82 in Q1 2024
Net interest income $71 million, down slightly from Q4 2024; net interest margin 3.58% versus 3.61%
Noninterest income $18 million, down $3 million from Q4 2024
Board approved a $60 million increase to the common stock repurchase authorization on April 15, 2025
Nicolet Bankshares reported fourth quarter 2024 net income of $34 million, or $2.19 per diluted share, up from $33 million and $2.10 in the third quarter and $31 million and $2.02 a year earlier. For full year 2024, net income was $124 million, or $8.05 per diluted share, compared with $62 million, or $4.08, in 2023, which included a large 2023 balance sheet repositioning loss. The results give shareholders a clear year-over-year improvement in both profit and per-share earnings.
Q4 2024 net income $34 million and diluted EPS $2.19, versus $33 million and $2.10 in Q3 2024 and $31 million and $2.02 in Q4 2023
Full year 2024 net income $124 million and diluted EPS $8.05, versus $62 million and $4.08 in 2023
Net interest margin for 2024 was 3.47%, up 29 bps from 3.18% in 2023
Total assets were $8.8 billion at December 31, 2024, up $328 million (4%) over the year
Nicolet Bankshares reported third quarter 2024 net income of $33 million, or $2.10 per diluted share, up from $29 million and $1.92 in the second quarter and from $17 million and $1.14 in the third quarter of 2023. For the first nine months of 2024, net income was $90 million, or $5.84 per diluted share, compared with $31 million and $2.05 a year earlier, and the company said asset quality remained solid.
Q3 2024 net income $33 million and diluted EPS $2.10, versus $29 million and $1.92 in Q2 2024
Nine-month 2024 net income $90 million and diluted EPS $5.84, versus $31 million and $2.05 in the same period of 2023
Net interest margin 3.44% for Q3 2024, up from 3.35% in Q2 2024; nonperforming assets 0.31% of total assets at September 30, 2024
Nicolet Bankshares reported second quarter 2024 net income of $29 million, or $1.92 per diluted share, compared with $23 million, or $1.51 per diluted share, in the second quarter of 2023 and $28 million, or $1.82, in the first quarter of 2024. For the first half of 2024, net income was $57 million, or $3.74 per diluted share, compared with $14 million, or $0.91, in the first half of 2023.
Q2 2024 net income $29 million and diluted EPS $1.92, versus $28 million and $1.82 in Q1 2024 and $23 million and $1.51 in Q2 2023
Net interest margin was 3.35% for Q2 2024, up from 3.26% in Q1 2024
Total loans rose $132 million (2%) from March 31, 2024, to $6.5 billion at June 30, 2024
Quarterly cash dividend of $0.28 per common share, a 12% increase over the first quarter
Nicolet Bankshares reported first quarter 2024 net income of $28 million, or $1.82 per diluted share, down from $31 million, or $2.02 per diluted share, in the fourth quarter of 2023. Results improved from a net loss of $9 million, or $0.61 per diluted share, in the first quarter of 2023, which included a balance sheet repositioning loss. The sequential decline came mainly from lower noninterest income and net interest income.
Diluted EPS of $1.82 for Q1 2024, compared with $2.02 in Q4 2023 and a loss of $0.61 in Q1 2023
Net interest income of $63 million, down $1 million from Q4 2023; net interest margin of 3.26% versus 3.30%
Noninterest income of $19 million, down $5 million from Q4 2023, mostly due to lower net asset gains
Tangible book value per share rose to $44.91 at March 31, 2024; tangible common equity ratio rose to 8.33%
Nicolet Bankshares reported fourth-quarter 2023 net income of $31 million, or $2.02 per diluted share, up from $1.83 a year earlier and $1.14 in the third quarter. Full-year 2023 net income fell to $62 million, or $4.08 per diluted share, from $94 million, or $6.56, in 2022, with results affected by a first-quarter Treasury securities sale loss and a $9.1 million Wisconsin tax valuation charge. Shareholders see a stronger quarter but a weaker year, and management said it is positioned to maintain momentum into 2024.
Q4 2023 net income $31 million and diluted EPS $2.02, versus $1.83 in Q4 2022 and $1.14 in Q3 2023
Full-year 2023 net income $62 million and diluted EPS $4.08, versus $94 million and $6.56 in 2022
Q4 2023 net interest margin 3.30%, up 14 bps from Q3 2023; full-year margin 3.18%, down 22 bps
Tangible common equity ratio rose to 7.98% at December 31, 2023; nonperforming assets $28 million
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