earnings
confidence high
sentiment neutral
materiality 0.75
Nicolet Q3 net income $19M ($1.29 EPS); Charter acquisition adds $1.1B assets
NICOLET BANKSHARES INC
2022-Q3 EPS reported
$4.72
- Net income $19M vs $24M prior quarter; adjusted net income $25M ($1.74 adj. EPS).
- Completed Charter Bankshares acquisition Aug 26 for $137M (1.26M shares + $39M cash), adding $1.1B assets.
- Net interest margin up 14bps to 3.48%; organic loan growth annualized 14.2% ex-Charter.
- Nonperforming assets 0.45% of total assets; net charge-offs negligible.
- Noninterest expense up 17% QoQ, driven by personnel costs from wealth team investments and Charter-related expenses.