Nicolet Bankshares Inc ( (NIC) ) has released its Q1 earnings. Here is a breakdown of the information Nicolet Bankshares Inc presented to its investors.
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Nicolet Bankshares, Inc. is a bank holding company for Nicolet National Bank, a community bank offering a range of services including commercial, agricultural, and consumer banking, as well as wealth management and retirement plan services, primarily operating in Wisconsin, Michigan, and Minnesota.
In its first quarter of 2025 earnings report, Nicolet Bankshares, Inc. reported a net income of $33 million, slightly down from the previous quarter’s $34 million but up from $28 million in the same quarter of the previous year. The company also highlighted solid loan growth and an increase in core deposits.
Key financial metrics for the quarter included a 2% increase in total loans, primarily in commercial and industrial sectors, and a 1% increase in core deposits. The company repurchased 233,207 common shares for $26 million and authorized an additional $60 million for future repurchases. Despite a slight decrease in net interest income and noninterest income, the company maintained strong asset quality with negligible loan net charge-offs.
Nicolet Bankshares continues to focus on disciplined growth and enhancing shareholder value. The company remains cautious about mergers and acquisitions amid market volatility, preferring to invest in share repurchases as a strategic move.
Looking ahead, Nicolet Bankshares’ management remains optimistic about maintaining its strong financial position and continuing to build core relationships, while being mindful of market uncertainties and focusing on long-term shareholder value.