---
schema_version: "secwatch.filing_event.v1"
accession: "0001174850-23-000016"
form_type: "8-K"
ticker: "NIC"
cik: "0001174850"
company_name: "NICOLET BANKSHARES INC"
filed_at: "2023-04-18T23:59:59+00:00"
generated_at: "2026-06-17T00:31:35.342615+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001174850-23-000016
- form_type: 8-K
- ticker: NIC
- cik: 0001174850
- company_name: NICOLET BANKSHARES INC
- filed_at: 2023-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1174850/000117485023000016/0001174850-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1174850/000117485023000016/nic-20230418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174850-23-000016
- JSON: https://secwatch.observer/filing/0001174850-23-000016.json
- Plain text: https://secwatch.observer/filing/0001174850-23-000016.txt

## Key facts
- Earnings Releases
  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
  source text: Nicolet Bankshares, Inc. (NYSE: NIC) (“Nicolet”) announced first quarter 2023 net loss of $9 million and loss per diluted common share of $0.61
  evidence_url: https://www.sec.gov/Archives/edgar/data/1174850/000117485023000016/0001174850-23-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.