Financial Performance - Fourth quarter 2024 net income was $34 million, up from $33 million in the prior quarter and $31 million in the fourth quarter of 2023, with earnings per diluted common share of $2.19[2] - For the year ended December 31, 2024, net income was $124 million, compared to $62 million for 2023, with adjusted net income of $121 million for 2024 versus $101 million for 2023[8] - Net income for the year ended December 31, 2024, was $124,059,000, compared to $61,516,000 in 2023, representing a year-over-year increase of 102.5%[21] - Basic earnings per share for the year ended December 31, 2024, was $8.24, up from $4.17 in 2023, indicating a growth of 97.2%[21] - For the three months ended December 31, 2024, the net income (GAAP) was $34,480,000, an increase from $30,661,000 for the same period in 2023, representing a year-over-year growth of 12%[28] Asset and Deposit Growth - Total assets at December 31, 2024, were $8.8 billion, reflecting a year-over-year growth of $328 million (4%) and an increase of $160 million (2%) from September 30, 2024[5] - Total assets increased to $8,796,795 thousand as of 12/31/2024, up from $8,468,678 thousand on 12/31/2023, representing a growth of 3.9%[19] - Total deposits reached $7.4 billion at December 31, 2024, an increase of $144 million from September 30, 2024, driven by a $192 million rise in interest-bearing deposits[6] - Total deposits rose to $7,403,684 thousand, compared to $7,197,800 thousand a year earlier, marking an increase of 2.9%[19] - Total deposits rose to $7,403,684 thousand, compared to $7,197,800 thousand at the end of 2023, marking an increase of 2.9%[24] Loan and Interest Metrics - The net interest margin for 2024 improved to 3.47%, an increase of 29 basis points from 3.18% in 2023[9] - Net loans reached $6,560,262 thousand, an increase from $6,290,332 thousand year-over-year, reflecting a growth of 4.3%[19] - Total loans increased to $6,626,584 thousand as of December 31, 2024, up from $6,353,942 thousand a year earlier, representing a growth of 4.3%[24] - Average total loans for the year ended December 31, 2024, were $6,505,103 thousand, generating interest income of $393,551 thousand at an average rate of 6.05%[25] - The company reported a net interest income of $71,550,000 for the three months ended December 31, 2024, compared to $64,282,000 for the same period in 2023, marking an increase of 11.8%[21] Noninterest Income and Expenses - Noninterest income for the full year 2024 was $82 million, an increase of $46 million over 2023, with growth in most noninterest income categories[10] - Noninterest income for the year ended December 31, 2024, totaled $82,267,000, significantly higher than $35,972,000 in 2023, marking an increase of 128.1%[21] - Total noninterest expense for the year ended December 31, 2024, was $191,353,000, up from $185,866,000 in 2023, reflecting an increase of 2.6%[21] Capital and Equity - Stockholders' equity increased to $1,172,898 thousand, up from $1,039,007 thousand, indicating a growth of 12.8% year-over-year[19] - Stockholders' equity reached $1,163,477 thousand as of December 31, 2024, up from $996,745 thousand a year earlier, indicating a growth of 16.67%[22] - Tangible common equity increased to $784,758,000 as of December 31, 2024, from $644,641,000 in 2023, representing a rise of 22%[28] - The average tangible common equity for the year was $709,053,000, up from $581,260,000 in 2023, indicating a growth of 22%[28] Tax and Regulatory Changes - The effective tax rate for the year ended December 31, 2024, was 20.03%, compared to 28.99% for 2023, reflecting higher pretax income[12] - A new Wisconsin tax law change effective July 1, 2023, reduced the effective tax rate from 25% to 19.5%, positively influencing future earnings[31] - The effective tax rate for the fourth quarter of 2024 was 20.19%, slightly up from 18.06% in the same quarter of the previous year[22] Strategic Plans and Shareholder Actions - The company plans to explore both organic growth and acquisition opportunities in 2025, supported by strong capital levels and earnings performance[4] - Share repurchases have resumed, with the company indicating a preference for this strategy until better capital deployment opportunities arise[4] - Common stock repurchased amounted to $10,137 thousand during the fourth quarter of 2024, with 92,440 shares repurchased[22]

Core Viewpoint - Nicolet Bankshares (NIC) is positioned as a strong investment opportunity due to its improving earnings outlook and analysts' increasing earnings estimates [1][2]. Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding Nicolet Bankshares' earnings prospects, which is expected to positively impact its stock price [2]. - The earnings estimate for the current quarter is $1.98 per share, reflecting a year-over-year increase of +7.03% [4]. - Over the last 30 days, the Zacks Consensus Estimate for the current quarter has risen by 10.61%, with one estimate moving higher and no negative revisions [4]. - For the full year, the expected earnings are $7.74 per share, representing a year-over-year change of +15.18% [5]. - In the past month, two estimates for the current year have increased, leading to a 5.96% rise in the consensus estimate [5]. Zacks Rank - Nicolet Bankshares has achieved a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts in raising earnings estimates [6]. - The Zacks Rank system has a proven track record, with Zacks 1 Ranked stocks averaging an annual return of +25% since 2008 [3][6]. - Stocks with Zacks Rank 1 and 2 are shown to significantly outperform the S&P 500 [6]. Stock Performance - Shares of Nicolet Bankshares have increased by 9.3% over the past four weeks, suggesting investor confidence in its earnings growth prospects [7].

Financial Performance - Net income for the three months ended September 30, 2024, was $32,516 thousand, compared to $17,158 thousand for the same period in 2023, reflecting an increase of 89.5%[7] - Basic earnings per share for the three months ended September 30, 2024, was $2.16, up from $1.16 for the same period in 2023, an increase of 86.2%[7] - Noninterest income for the three months ended September 30, 2024, totaled $22,378 thousand, compared to $16,541 thousand for the same period in 2023, an increase of 35.3%[7] - Comprehensive income for the three months ended September 30, 2024, was $53,382 thousand, compared to a loss of $(924) thousand for the same period in 2023[9] - Net income for the nine months ended September 30, 2024, was $90 million, or $5.84 per diluted common share, compared to $31 million, or $2.05 per diluted common share for the same period in 2023[109] - Adjusted net income for the nine months ended September 30, 2024, was $86.6 million, reflecting a significant improvement from the previous year[109] Asset and Liability Growth - Total assets increased to $8,637,118 thousand as of September 30, 2024, compared to $8,468,678 thousand at December 31, 2023, representing a growth of 1.99%[5] - Total liabilities increased to $7,487,791 thousand as of September 30, 2024, from $7,429,671 thousand at December 31, 2023, a growth of 0.78%[5] - Total stockholders' equity increased to $1,149,327,000 as of September 30, 2024, up from $977,638,000 at June 30, 2023, reflecting a growth of approximately 17.5%[12] - Total deposits increased to $7,259,997 thousand as of September 30, 2024, from $7,197,800 thousand at December 31, 2023, a rise of 0.86%[5] Credit Quality and Provisions - The allowance for credit losses on loans increased to $(65,785) thousand as of September 30, 2024, compared to $(63,610) thousand at December 31, 2023, indicating a higher provision for potential loan losses[5] - The provision for credit losses for the three months ended September 30, 2024, is $750,000, compared to $450,000 for the same period in 2023, indicating a 66.67% increase[53] - The company reported a provision for credit losses of $2,850,000 for the nine months ended September 30, 2024, down from $3,990,000 for the same period in 2023, representing a decrease of 29%[14] - The net charge-offs for the nine months ended September 30, 2024, amount to $(675,000), reflecting a decrease from $(1,066,000) in the same period of the previous year[48] Loan Portfolio - The loan portfolio totaled $6,556,840,000 as of September 30, 2024, with a net allowance for credit losses of $65,785,000, representing 1.00% of total loans[43] - Total loans as of September 30, 2024, amounted to $6,556,840,000, with 30-89 days past due at $5,597,000 and 90 days & over at $25,565,000, representing 0.1% and 0.4% of total loans respectively[58] - The commercial and industrial loans segment accounted for 21% of the total loan portfolio, increasing from 20% as of December 31, 2023[43] - Total loans grew by $203 million (3%) from December 31, 2023, with notable increases in agricultural, commercial, and residential real estate loans[133] Interest Income and Expenses - Net interest income after provision for credit losses rose to $67,616 thousand for the three months ended September 30, 2024, up from $61,024 thousand for the same period in 2023, an increase of 4.6%[7] - The net interest margin improved to 3.35% for the nine months ended September 30, 2024, compared to 3.07% for the same period in 2023[110] - Tax-equivalent net interest income was reported at $197,993 thousand with a net interest margin of 3.35%, up from $178,856 thousand and 3.07% in 2023[114] - The interest rate spread improved to 2.51% for the current period, compared to 2.29% in the previous year[114] Market and Economic Conditions - The Consumer Price Index (CPI) for September increased by 0.2%, with shelter and food components being the primary drivers[103] - Concerns regarding a recession in 2024 have diminished, influenced by a strong employment report and higher-than-expected CPI[103] - The U.S. election is anticipated to introduce additional economic volatility in the coming weeks[103] Regulatory and Compliance - The Bank's regulatory capital ratios remain above minimum regulatory ratios, qualifying it as well-capitalized under the prompt-corrective action framework[159] - There were no changes in the company's internal control over financial reporting during the quarter that materially affected its financial reporting[165] - The company has not engaged in any legal proceedings expected to have a material adverse effect on its financial position[166]

Group 1 - Nicolet Bankshares reported quarterly earnings of $2.04 per share, exceeding the Zacks Consensus Estimate of $1.91 per share, and up from $1.54 per share a year ago, representing an earnings surprise of 6.81% [1] - The company posted revenues of $91.24 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.48%, compared to $78.52 million in the same quarter last year [2] - Over the last four quarters, Nicolet Bankshares has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Group 2 - The stock has gained approximately 21.2% since the beginning of the year, while the S&P 500 has increased by 22.9% [3] - The current consensus EPS estimate for the upcoming quarter is $1.79 on revenues of $85.2 million, and for the current fiscal year, it is $7.30 on revenues of $337.3 million [7] - The Zacks Industry Rank for Banks - Northeast is currently in the top 41% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Net income for Q3 2024 was $33 million, up from $29 million in Q2 2024 and $17 million in Q3 2023, with earnings per diluted common share increasing to $2.10 from $1.92 and $1.14 respectively[1] - For the first nine months of 2024, net income reached $90 million, compared to $31 million for the same period in 2023, with adjusted net income of $87 million versus $73 million[1] - Net income for Q3 2024 reached $32,516,000, a rise of 7.5% from $29,273,000 in Q2 2024[13] - Adjusted net income for Q3 2024 was $31,569,000, up from $28,777,000 in Q3 2023, representing a 6.1% increase year-over-year[20] - The company reported a net income (GAAP) of $32,516,000 for Q3 2024, compared to $29,273,000 in Q3 2023, which is an increase of 7.6%[20] Asset Quality - Nonperforming assets decreased to $26 million, representing 0.31% of total assets, the lowest level in over three years, indicating solid asset quality[4] - Nonperforming loans to total loans ratio decreased to 0.39% from 0.43%, showing an improvement in asset quality[14] - The allowance for credit losses on loans was $66 million, representing 1.00% of total loans, consistent with previous quarters[4] - The allowance for credit losses was reported at $379 thousand, up from $283 thousand, indicating a proactive approach to managing credit risk[14] Revenue and Income Sources - Net interest income for Q3 2024 was $68 million, an increase of $3 million from Q2 2024, with a net interest margin of 3.44%, up 9 basis points[5] - Noninterest income rose to $22 million in Q3 2024, reflecting a $3 million increase over Q2 2024, with growth in wealth management and mortgage income[6] - Total interest income for Q3 2024 was $112,622,000, an increase of 3.4% from $108,878,000 in Q2 2024[13] - Net interest income after provision for credit losses was $67,616,000, up from $63,992,000 in the previous quarter, reflecting a growth of 4.0%[13] - Noninterest income totaled $22,378,000, representing an increase of 14.2% compared to $19,609,000 in Q2 2024[13] Balance Sheet and Equity - Total assets increased by $80 million (1%) to $8.6 billion from Q2 2024, primarily due to loan growth and improvements in the fair value of the securities portfolio[4] - Total assets reached $8,596,812 thousand, an increase from $8,481,186 thousand as of June 30, 2024, reflecting a growth of 1.36%[14] - Stockholders' equity rose to $1,118,242 thousand, compared to $1,070,379 thousand in the previous quarter, marking a 4.48% increase[14] - Average stockholders' equity (common) for Q3 2024 was $1,118,242,000, up from $1,070,379,000 in Q3 2023, reflecting a 4.5% increase[20] Expenses and Cost Management - Personnel expenses increased by $3 million in Q3 2024, reflecting higher incentives and salaries, while non-personnel expenses decreased by $0.4 million[7] - Total interest expense was $44,256,000, up from $43,536,000 in Q2 2024, indicating a rise of 1.6%[13] - Provision for credit losses decreased to $750,000 from $1,350,000 in the previous quarter, a reduction of 44.4%[13] - Personnel expenses increased to $28,937,000, compared to $26,285,000 in Q2 2024, reflecting a growth of 10.1%[13] - The efficiency ratio improved to 54.57%, down from 55.24%, indicating better cost management[14] Future Outlook - The company anticipates continued growth in net interest income and noninterest income driven by strategic market expansions and new product offerings[13] - The effective tax rate changed from 25% to 19.5% following a new Wisconsin tax law effective July 1, 2023, impacting future earnings positively[20] - The company incurred a pre-tax loss of $38 million from the sale of $500 million U.S. Treasury securities, which was part of a balance sheet repositioning strategy[20] Shareholder Information - The company reported a total of 15,052,000 basic weighted average shares outstanding for Q3 2024, slightly up from 14,937,000 in Q2 2024[13] - Basic earnings per share increased to $2.16, compared to $1.96 in the previous quarter, marking an increase of 10.2%[13] - The adjusted diluted earnings per common share (Non-GAAP) was $2.04 for Q3 2024, compared to $1.88 in Q3 2023, a growth of 8.5%[20] - The company reported a book value per common share of $76.09, up from $73.03 in the previous quarter, reflecting an increase of 2.82%[14]

Core Insights - NIC.br, the largest Internet Exchange Provider in the world, has selected Nokia to enhance internet connectivity in Brazil, addressing the anticipated surge in internet traffic over the next five years [2][3] - The network upgrade aims to scale capacity, improve resiliency, and increase automation, leading to advanced services for customers [1][3] Company and Industry Overview - NIC.br is responsible for managing the .br domain and operates the Brazilian Internet Exchange (IX.br), connecting over 3,500 Autonomous Systems and facilitating data traffic among various internet service providers and network operators [3][8] - The expected growth in Brazil's internet data traffic is projected to reach 218.5 million users and over 50 terabits per second in the next five years, necessitating significant upgrades to the existing infrastructure [2][3] - Nokia will implement its IP routing technology, including the Nokia 7250 Interconnect Router and 7750 Service Router, which support Ethernet VPN services and high-capacity interfaces [4][5] - The EVPN protocol, which Nokia is standardizing, offers a unified architecture for carrier and business VPN services, enhancing network efficiency, reliability, and scalability [4][5] - The partnership between NIC.br and Nokia is expected to foster the development of new applications and services, benefiting the Brazilian society as a whole [5]

Nicolet Bankshares (NIC) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following y ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37700 NICOLET BANKSHARES, INC. (Exact Name of Registrant as Specified in its Charter) Wisconsin 47-0871001 (State or ...

Over the last four quarters, the company has surpassed consensus EPS estimates two times. Nicolet Bankshares, which belongs to the Zacks Banks - Northeast industry, posted revenues of $85.43 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.96%. This compares to year-ago revenues of $75.88 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-rel ...

Exhibit 99.1 . NICOLET BANKSHARES, INC. ANNOUNCES SECOND QUARTER 2024 RESULTS Green Bay, Wisconsin, July 16, 2024 - Nicolet Bankshares, Inc. (NYSE: NIC) ("Nicolet") announced second quarter 2024 net income of $29 million and earnings per diluted common share of $1.92, compared to net income of $28 million and earnings per diluted common share of $1.82 for first quarter 2024, and net income of $23 million and earnings per diluted common share of $1.51 for second quarter 2023. Net income for the six months en ...