NICOLET BANKSHARES INC
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 1, 2024
NIC$175.53-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
(In thousands, except share and per share data) (Unaudited)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Interest income: | ||||
| Loans, including loan fees | $100,824 | $87,657 | $292,447 | $250,890 |
| Investment securities: | ||||
| Taxable | 5,211 | 4,351 | 14,824 | 13,445 |
| Tax-exempt | 1,095 | 1,424 | 3,485 | 4,637 |
| Other interest income | 5,492 | 6,452 | 14,775 | 10,345 |
| Total interest income | 112,622 | 99,884 | 325,531 | 279,317 |
| Interest expense: | ||||
| Deposits | 42,060 | 34,964 | 122,436 | 89,241 |
| Short-term borrowings | 2 | 474 | 2 | 4,794 |
| Long-term borrowings | 2,194 | 2,972 | 6,578 | 8,048 |
| Total interest expense | 44,256 | 38,410 | 129,016 | 102,083 |
| Net interest income | 68,366 | 61,474 | 196,515 | 177,234 |
| Provision for credit losses | 750 | 450 | 2,850 | 3,990 |
| Net interest income after provision for credit losses | 67,616 | 61,024 | 193,665 | 173,244 |
| Noninterest income: | ||||
| Wealth management fee income | 7,085 | 6,057 | 20,244 | 17,439 |
| Mortgage income, net | 2,853 | 2,020 | 6,851 | 5,308 |
| Service charges on deposit accounts | 1,913 | 1,492 | 5,307 | 4,501 |
| Card interchange income | 3,564 | 3,321 | 10,120 | 9,685 |
| BOLI income | 1,455 | 1,090 | 4,027 | 3,363 |
| Deferred compensation plan asset market valuations | 1,162 | (457) | 1,390 | 988 |
| LSR income, net | 1,090 | 1,108 | 3,341 | 3,398 |
| Asset gains (losses), net | 1,177 | 31 | 3,702 | (38,755) |
| Other income | 2,079 | 1,879 | 6,427 | 5,611 |
| Total noninterest income | 22,378 | 16,541 | 61,409 | 11,538 |
| Noninterest expense: | ||||
| Personnel | 28,937 | 23,944 | 81,732 | 72,172 |
| Occupancy, equipment and office | 8,826 | 9,027 | 26,451 | 26,655 |
| Business development and marketing | 1,823 | 1,869 | 6,005 | 5,936 |
| Data processing | 4,535 | 4,643 | 13,086 | 12,849 |
| Intangibles amortization | 1,694 | 1,986 | 5,289 | 6,230 |
| FDIC assessments | 990 | 1,500 | 3,013 | 3,049 |
| Merger-related expense | — | — | — | 189 |
| Other expense | 2,343 | 2,769 | 7,572 | 8,490 |
| Total noninterest expense | 49,148 | 45,738 | 143,148 | 135,570 |
| Income before income tax expense | 40,846 | 31,827 | 111,926 | 49,212 |
| Income tax expense | 8,330 | 14,669 | 22,347 | 18,357 |
| Net income | $32,516 | $17,158 | $89,579 | $30,855 |
| Earnings per common share: | ||||
| Basic | $2.16 | $1.16 | $5.99 | $2.10 |
| Diluted | $2.10 | $1.14 | $5.84 | $2.05 |
| Weighted average common shares outstanding: | ||||
| Basic | 15,052,524 | 14,740,319 | 14,965,982 | 14,715,588 |
| Diluted | 15,479,395 | 15,099,622 | 15,329,687 | 15,044,259 |
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