Nicolet posts Q1 net loss of $9M; sells $500M Treasuries to reposition balance sheet

NICOLET BANKSHARES INC

2023-Q1 EPS reported -$0.61

Net loss of $9M ($0.61 diluted EPS loss); core banking operations earned $22M (Non-GAAP).
Sold $500M HTM U.S. Treasuries for $38M pre-tax loss; expects ~$17M annual NII increase.
Net interest margin fell to 2.91% from 3.39% in Q4; total deposits declined 3% to $6.9B.
Tangible common equity ratio improved to 7.21%; nonperforming assets at 0.50% of total assets.
Non-core items reduced EPS by $2.06; management expects NIM improvement in coming quarters.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NICOLET BANKSHARES INC reported first quarter 2023 results: net income net loss of $9 million, EPS loss per diluted common share of $0.61.

Period: first quarter 2023
Net income: net loss of $9 million
EPS: loss per diluted common share of $0.61
Result: reported results

Exact text from the filing

Nicolet Bankshares, Inc. (NYSE: NIC) (“Nicolet”) announced first quarter 2023 net loss of $9 million and loss per diluted common share of $0.61

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Source: SEC EDGAR

accession 0001174850-23-000016

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