Nicolet Q3 net income $17M ($1.14 EPS); Wisconsin tax change lowers future rate to 19.5%

NICOLET BANKSHARES INC

2023-Q3 EPS reported $2.05

Net income $17M ($1.14 diluted EPS) vs $23M ($1.51) in Q2; adjusted net income $23M (non-core items -$0.40/share).
NIM improved 2 bps to 3.16%; net interest income $61M, up $2M sequentially on loan repricing and investable cash.
Wisconsin tax law change: one-time $9.1M charge in Q3, but ongoing state exemption reduces future effective tax rate from 25% to 19.5%.
Subsequent event: Sold UFS membership interest for $10M, pre-tax gain ~$9M to be recognized in Q4 2023.
Wealth assets under management up 24% from year-end 2022; asset quality stable (NPAs 0.37%, ACL 1.01%).

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 0.85

NICOLET BANKSHARES INC reported third quarter 2023 results: net income net income of $17 million, EPS earnings per diluted common share of $1.14.

Period: third quarter 2023
Net income: net income of $17 million
EPS: earnings per diluted common share of $1.14
Result: reported results

Exact text from the filing

Nicolet Bankshares, Inc. (NYSE: NIC) ("Nicolet") announced third quarter 2023 net income of $17 million and earnings per diluted common share of $1.14, compared to net income of $23 million and earnings per diluted common share of $1.51 for second quarter 2023, and net income of $19 million and earnings per diluted common share of $1.29 for third quarter 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

NICOLET BANKSHARES INC reported nine months ended September 30, 2023 results: net income Net income for the nine months ended September 30, 2023 was $31 million, EPS earnings per diluted common share of $2.05.

Period: nine months ended September 30, 2023
Net income: Net income for the nine months ended September 30, 2023 was $31 million
EPS: earnings per diluted common share of $2.05
Result: reported results

Exact text from the filing

Net income for the nine months ended September 30, 2023 was $31 million and earnings per diluted common share of $2.05, compared to net income of $67 million and earnings per diluted common share of $4.72 for the nine months ended September 30, 2022.

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Source: SEC EDGAR

accession 0001174850-23-000035

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