Sign in Subscribe
Community banks

Nicolet Bankshares Reports Strong First Quarter 2025 Financials

Strategic Insights

— 1 min read

Nicolet Bankshares, Inc. announced its first quarter 2025 financial results, showcasing continued profitability and growth. Net income reached $33 million, with earnings per diluted common share of $2.08. Nicolet's Chairman, President, and CEO, Mike Daniels, emphasized the bank's commitment to disciplined growth and customer-centric approach, even in a period of market volatility.

Key Takeaways:

  • Nicolet's first quarter 2025 net income was $33 million, with earnings per diluted common share of $2.08, compared to $34 million and $2.19 in fourth quarter 2024, and $28 million and $1.82 in first quarter 2024.
  • Assets reached $9.0 billion at March 31, 2025, a 2% increase from December 31, 2024, primarily due to loan growth, with total loans increasing $119 million.
  • Total deposits of $7.6 billion at March 31, 2025, rose $169 million from December 31, 2024, including a $107 million increase in brokered deposits and a $62 million increase in customer (core) deposits.
  • Total capital was $1.2 billion at March 31, 2025, a $10 million increase from December 31, 2024, driven by solid earnings and favorable market movements.
  • Subsequently, the Board approved a $60 million increase to the common stock repurchase authorization on April 15, 2025.
  • Asset quality trends remain solid, with nonperforming assets at 0.33% of total assets and loan net charge-offs negligible.
  • Net interest income was $71 million for first quarter 2025, down slightly from fourth quarter 2024, primarily due to higher interest expense from deposit growth.

*Noninterest income decreased $3 million from fourth quarter 2024, driven by seasonally lower net mortgage income and decreased wealth income.

Statistics:

  • Net income: $33 million (first quarter 2025), $34 million (fourth quarter 2024), $28 million (first quarter 2024)
  • Earnings per diluted common share: $2.08 (first quarter 2025), $2.19 (fourth quarter 2024), $1.82 (first quarter 2024)
  • Assets: $9.0 billion (March 31, 2025), $8.822 billion (December 31, 2024)
  • Total loans: $6.649 billion (March 31, 2025), $6.53 billion (December 31, 2024)
  • Total deposits: $7.6 billion (March 31, 2025), $7.431 billion (December 31, 2024)
  • Total capital: $1.2 billion (March 31, 2025), $1.19 billion (December 31, 2024)

Sources:

  • Nicolet Bankshares, Inc. news release (exact date not specified)
  • Annual report letter (exact date not specified)

Read more