Nicolet Bankshares, Inc. (NIC)

Over the past six months, Nicolet Bankshares' stock has shown strong performance, climbing by 7.7% and exceeding industry and market returns. The company reported Q3 2025 earnings that beat market expectations, with sales up 13.2% year-on-year and a record net income of $42 million. Q4 2025 financial report included record net income for the full year 2025, up 21.7% from 2024. Nicolet announced its intention to acquire MidWestOne Financial in an all-stock deal valued at $864 million. The company repurchased 155,393 common shares for $21 million and affirmed a quarterly dividend of US$0.32. The stock hit all-time highs of $142.00 USD on January 21, 2026, and $148.48 USD on February 2, 2026. Several investment banks raised their price targets for Nicolet Bankshares in January 2026 following strong results.

Information directly detailing the demand seasonality for all of Nicolet Bankshares' products and services is not extensively available. Seasonality is a factor considered in financial analysis for the company. The Q1 2025 results noted that the typical seasonal decline in core deposits was much less than in prior years, indicating that deposit levels can experience seasonal fluctuations. Certain loan products and deposit activities might exhibit some level of seasonality.

Nicolet Bankshares, Inc. is a regional bank holding company operating in the financial sector, founded in Green Bay in 2000. It operates through Nicolet National Bank, offering commercial banking (commercial loans, lines of credit, real estate financing, agricultural lending), consumer banking (mortgages, personal loans, deposit accounts), wealth management (through Nicolet Advisory Services), insurance products (through Nicolet Insurance Services), and other services like cash management and trust services. Nicolet generates revenue from interest income on loans, fees from banking services, and commissions from wealth management and insurance activities.

Nicolet Bankshares, Inc. primarily operates in Wisconsin, Michigan, and Minnesota, with 57 branches across these states and one in Naples, Florida. The pending acquisition of MidWestOne Financial is expected to expand its footprint to six states, including Iowa and Colorado, and boost assets above $15 billion.

Nicolet Bankshares maintains a positive brand reputation, emphasizing a community-focused approach and strong financial performance. The company reported record net income for 2025, up 21.7% from 2024, along with robust deposit and loan growth. Nicolet has a track record of successful bank acquisitions, with the pending acquisition of MidWestOne Financial being its ninth since 2013. The company consistently emphasizes its role as a community-focused financial institution. Over the last five years, Nicolet Bankshares has averaged a return on equity (ROE) of 10.1%.

Nicolet Bankshares, Inc. has 345 institutional owners and shareholders holding a total of 8,866,669 shares. Major institutional owners include BlackRock, Inc., Nicolet Bankshares Inc, and Vanguard Group Inc. Major individual owners include Michael Edward Daniels (Chairman, President & CEO; Director), Eric James Witczak (EVP & Secretary), and H. Phillip Moore (CFO).