NICOLET BANKSHARES INC
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
NIC$175.53-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Unaudited)
| (In thousands) | Three Months Ended March 31, | |
|---|---|---|
| 2024 | 2023 | |
| Cash Flows From Operating Activities: | ||
| Net income (loss) | $27,790 | $(8,898) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation, amortization, and accretion | 4,797 | 4,197 |
| Provision for credit losses | 750 | 3,090 |
| Increase in cash surrender value of life insurance | (1,347) | (1,087) |
| Stock-based compensation expense | 1,381 | 1,424 |
| Asset (gains) losses, net | (1,909) | 38,468 |
| Gain on sale of loans held for sale, net | (1,090) | (612) |
| Proceeds from sale of loans held for sale | 29,261 | 17,789 |
| Origination of loans held for sale | (29,360) | (20,861) |
| Net change due to: | ||
| Accrued interest receivable and other assets | 3,032 | (2,326) |
| Accrued interest payable and other liabilities | (9,923) | (15,642) |
| Net cash provided by (used in) operating activities | 23,382 | 15,542 |
| Cash Flows From Investing Activities: | ||
| Net (increase) decrease in loans | (42,188) | (41,764) |
| Net (increase) decrease in certificates of deposit in other banks | 735 | 1,225 |
| Purchases of securities AFS | (48,042) | — |
| Proceeds from sales of securities AFS | 4,987 | 22,565 |
| Proceeds from sales of securities HTM | — | 460,051 |
| Proceeds from calls and maturities of securities AFS | 39,009 | 42,028 |
| Proceeds from calls and maturities of securities HTM | — | 2,916 |
| Purchases of other investments | (230) | (3,801) |
| Proceeds from sales of other investments | 625 | 11,108 |
| Proceeds from redemption of BOLI | — | 117 |
| Net (increase) decrease in premises and equipment | (3,325) | (5,646) |
| Net (increase) decrease in other real estate and other assets | (596) | — |
| Net cash provided by (used in) investing activities | (49,025) | 488,799 |
| Cash Flows From Financing Activities: | ||
| Net increase (decrease) in deposits | (32,068) | (250,218) |
| Net increase (decrease) in short-term borrowings | — | (267,000) |
| Repayments of long-term borrowings | (4,010) | (28,000) |
| Cash dividends paid on common stock | (3,756) | — |
| Proceeds from issuance of common stock | 202 | 186 |
| Proceeds from exercise of stock options | 1,268 | 148 |
| Net cash provided by (used in) financing activities | (38,364) | (544,884) |
| Net increase (decrease) in cash and cash equivalents | (64,007) | (40,543) |
| Cash and cash equivalents: | ||
| Beginning | 491,431 | 154,723 |
| Ending * | $427,424 | $114,180 |
| Supplemental Disclosures of Cash Flow Information: | ||
| Cash paid for interest | $41,267 | $30,825 |
| Cash paid for taxes | 50 | — |
| Transfer of securities from HTM to AFS | — | 177,727 |
| Transfer of loans and bank premises to other real estate owned | 27 | — |
| Capitalized mortgage servicing rights | 327 | 204 |
*There wasno restricted cash in cash and cash equivalents at either March 31, 2024 or March 31, 2023.
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