Nicolet Bankshares, Inc. (NIC)

In the past six months, Nicolet Bankshares announced record net income for Q3 2025 ($42 million) and Q2 2025, as well as net income for Q1 2025 ($33 million) and Q4 2024 ($34 million). The company declared cash dividends, repurchased shares (155,393 in Q3 2025 and 233,207 in Q1 2025), and announced an agreement to acquire MidWestOne Financial Group for $864 million in October 2025. As of January 9, 2026, the share price was $123.58, representing a 22.72% increase over the past year.

The demand for Nicolet Bankshares' products and services exhibits some seasonality, particularly concerning deposits. The company reported that its typical seasonal decline in core deposits was much less than in prior years in the first quarter of 2025, indicating that core deposits usually experience a seasonal decline during this period.

Nicolet Bankshares, Inc. is a financial holding company based in Green Bay, Wisconsin, operating through Nicolet National Bank. It provides a range of financial products and services, including deposit accounts, loans, wealth management and investment services, treasury management services, digital banking, merchant services, and other services like international banking and crop insurance.

Nicolet Bankshares operates branches primarily in Wisconsin, Michigan, and Minnesota, with an additional branch in Naples, Florida. The company has expanded its market presence through organic growth and strategic acquisitions.

Nicolet Bankshares maintains a strong brand reputation as a respected financial holding company. It is known for its prudent management, commitment to shareholder value, and dedication to being a trusted financial partner. A SWOT analysis from February 2025 highlighted the company's robust net income growth and strong community banking model as key strengths.

Nicolet Bankshares has a diverse ownership structure, with institutional investors holding a significant portion of shares (8,971,242 shares held by 384 institutional owners and shareholders). Major institutional owners include BlackRock, Inc., Vanguard Group Inc., and Dimensional Fund Advisors Lp. Individual investors hold a 43% stake, and insiders, including CEO Michael Daniels, own a meaningful proportion of the company's shares.