Every material Form 8-K Nicolet Bankshares filed with the SEC in 2025, 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 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
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Nicolet Bankshares filing is on SEC EDGAR ↗. 8-K briefs of other companies →