Nicolet Bankshares Q2 Net Income Hits Record $36mln

Nicolet Bankshares, Inc. reported a record Q2 net income of $36 million. The bank holding company of Nicolet National Bank operates branches in Wisconsin, Michigan, and Minnesota, offering a range of financial services including commercial, agricultural, and consumer banking, wealth management, and retirement plan services.

Nicolet Bankshares, Inc. (NYSE: NIC), the bank holding company of Nicolet National Bank, announced a record net income of $36 million for the second quarter of 2025. This marks a significant increase compared to the first quarter of 2025, where net income was $33 million, and the second quarter of 2024, where net income was $29 million.

The bank, which operates primarily in Wisconsin, Michigan, and Minnesota, reported a quarterly return on average assets of 1.62%, the highest level since its March 2023 balance sheet restructuring. This performance was driven by solid loan growth of $94 million (5.6% annualized) and core deposit growth of $68 million (4.1% annualized). Additionally, the bank's net interest margin improved to 3.72%, an increase of 14 basis points over the first quarter.

Mike Daniels, Chairman, President, and CEO of Nicolet Bankshares, Inc., commented on the results, stating, "Our quarterly results again demonstrated strong performance and continued consistency in a volatile market. What we saw in the second quarter is a testament to the tenacity and vibrancy of our customers and the markets we serve."

The bank's asset quality remained robust, with nonperforming assets representing 0.32% of total assets at June 30, 2025. The allowance for credit losses-loans was $68 million and represented 1.00% of total loans. The bank also repurchased 257,402 common shares for $30 million during the second quarter.

The balance sheet review at June 30, 2025, showed total assets of $8.9 billion, with total loans increasing by $94 million from March 31, 2025. Total deposits decreased by $31 million, with core deposits increasing by $68 million. Long-term borrowings decreased by $22 million due to the redemption of a subordinated note issuance.

Nicolet Bankshares, Inc. is a growing, full-service community bank providing services ranging from commercial, agricultural, and consumer banking to wealth management and retirement plan services. More information can be found at www.nicoletbank.com.

References:
[1] https://www.marketscreener.com/quote/stock/NICOLET-BANKSHARES-INC-26704241/news/Nicolet-Bankshares-Inc-Announces-Record-Quarterly-Net-Income-for-Second-Quarter-2025-50517043/