Nicolet Q3 net income falls to $7.8M on Mackinac acquisition costs; County Bancorp merger to close Dec 3

NICOLET BANKSHARES INC

2021-Q3 EPS reported $4.22

Q3 2021 net income of $7.8M ($0.73 diluted EPS) vs $18.3M ($1.77) in Q2 2021, impacted by Mackinac acquisition integration costs.
Mackinac acquisition closed Sep 3: added $1.5B assets, total purchase price $229M (2.3M shares + $49M cash).
County Bancorp merger received all regulatory and shareholder approvals; expected to close Dec 3, 2021.
Net interest margin declined 51bps to 2.94%; share repurchases of 233,594 shares for $17.1M during quarter.
Nonperforming assets increased to $21M (0.33% of assets) from $10M due to Mackinac; credit metrics remain strong.

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