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Noticias de NIC
Eventos de NIC
Nicolet Reports Strong Q2 Results, CEO Indicates Return to High Profitability
"Our second quarter results reflect the strength of the Nicolet model and the disciplined execution of our team," said Mike Daniels, Chairman, President, and CEO of Nicolet. "Core earnings remained strong, net interest margin expanded, credit quality continued to perform well, allowing us to repurchase stock throughout the quarter, and tangible book value increased. I'm particularly pleased with the progress we've made integrating MidWestOne. Throughout the process, our teams have remained focused on serving our clients while executing our integration plan. As we complete our conversion later this summer and begin fully realizing our planned cost savings, we'll be in a stronger position to restore the high level of profitability and returns that have historically defined Nicolet."
Nicolet Reports Solid Core Earnings This Quarter, Dividend Increased by 13%
"This quarter reflects disciplined execution through a period of transformational growth," said Mike Daniels, Chairman, President, and CEO of Nicolet. "We delivered solid core earnings, expanded margins, and increased tangible book value with no material per share dilution in book value from the MidWestOne acquisition. Also, our strong profitability allows us to continue to return capital to shareholders through a 13% increase in our dividend as well as restarting our share repurchase program during the quarter. All of this occurred while completing a transaction that we believe strengthens Nicolet's competitive position and long-term shared success returns to our Three Circles."
Nicolet Bankshares Completes Merger with MidWestOne Financial Group
Nicolet Bankshares completed its merger with MidWestOne Financial Group, as a result of which, MidWestOne merged with and into Nicolet, with Nicolet being the surviving corporation. MidWestOne Bank will operate as a division of Nicolet National Bank until the planned system conversion in August. At that time, all 50-plus MidWestOne locations will transition to the Nicolet brand and digital banking platform, expanding Nicolet's presence in Iowa, the Twin Cities, Western Wisconsin, and Denver, the company stated. Based on initial financial data, the addition of MidWestOne added approximately $6B in assets to increase Nicolet's total assets to approximately $15B. Total loans of the combined company will increase to approximately $11B and total deposits will increase to approximately $13B. Mike Daniels, Chairman, President, and CEO of Nicolet, said, "The completion of this merger represents an important milestone in Nicolet's disciplined growth strategy. MidWestOne is a strong cultural and strategic fit, and this combination enhances our ability to serve customers across our expanded footprint while maintaining the local decision making that defines our model of shared success."
Nicolet Reports Record Earnings in 2025, Looks Ahead to Opportunities in 2026
"2025 was a defining year for Nicolet. We delivered record earnings and earnings per share while exceeding our targets across nearly every key performance metric. This performance likely places us among the top performing community banks in the country and reflects disciplined execution and a relentless focus on fundamentals," said Mike Daniels, Chairman, President, and CEO of Nicolet. "Delivering record net income while expanding our net interest margin and growing core deposits reflects the strength of our core community bank franchise and the trust our customers place in us. We believe our model-rooted in community banking and long-term thinking-positions us well for the opportunities ahead in 2026, including welcoming the customers and employees of MidWestOne."
Nicolet Bankshares to purchase MidWestOne in a stock-only deal
Nicolet Bankshares (NIC) and MidWestOne (MOFG) jointly announced the execution of a definitive merger agreement pursuant to which Nicolet will acquire MidWestOne and its wholly-owned banking subsidiary, MidWestOne Bank. Based on the financial results as of September 30, the combined company will have pro forma total assets of $15.3B, deposits of $13.1B, and loans of $11.3 billion. Upon closing of the transaction, Nicolet will have more than 110 branches, as well as loan production offices, across the Upper Midwest, Denver, Colorado and Naples, Florida, among other areas. Under the terms of the Agreement, which has been unanimously approved by the board of directors of both companies, Nicolet will exchange shares of its common stock for all of the outstanding shares of MidWestOne common stock, in an all-stock transaction. MidWestOne shareholders will be entitled to receive 0.3175 of a share of Nicolet common stock for each share of MidWestOne common stock they own upon the effective time of the merger, for aggregate merger consideration valued at approximately $864M, or $41.37 per share, based on Nicolet's closing stock price of $130.31 as of October 22. The transaction values MidWestOne at a price to tangible book value per share of 166% and a price to mean analyst estimated 2026 earnings per share of 11.5 times. Upon completion of the merger, the shares issued to MidWestOne shareholders are expected to comprise 30% of the outstanding shares of the combined company. Excluding certain merger-related charges, the transaction, with cost savings fully phased in, is anticipated to be approximately 37% accretive to 2026 earnings, and mildly dilutive to tangible book value per share with a negligible earnback period. The merger is subject to a number of customary conditions, including the approvals of the appropriate regulatory authorities and approvals by the shareholders of both Nicolet and MidWestOne. It is expected that the transaction should be completed during the first half of 2026. Upon completion of the merger, it is expected the combined company's board of directors will be comprised of eight members of Nicolet's board of directors, including Mike Daniels, and four members of MidWestOne's current board of directors. In connection with the execution of the agreement, all of the directors and named executive officers of MidWestOne and Nicolet have entered into support agreements pursuant to which they have agreed to vote their shares in favor of the merger.
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