Nicolet Bankshares Q1 net income $24M, EPS $1.70; Charter acquisition details

NICOLET BANKSHARES INC

2022-Q1 EPS reported $1.70

Net income of $24M ($1.70 diluted EPS) vs $16M ($1.25) prior quarter and $18M ($1.75) year ago.
Acquiring Charter Bankshares for ~1.26M shares + $38.8M cash; expected close Q3 2022.
Repurchased 593,713 shares for $54.4M ($91.66 avg) during Q1.
Total loans up $61M from Dec 31, 2021; net interest margin 3.23% down 34bps QoQ.
Nonperforming assets 0.68% of total assets; allowance for credit losses unchanged at 1.07%.

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