Nicolet Bankshares Inc (NIC) Financial Statements
Industry: National Commercial Banks
In fiscal 2025, Nicolet Bankshares reported revenue of $392.0M, up 11.9% from $350.3M the year before. Net income was $150.7M (a 38.4% net margin), or $9.78 per diluted share. Net interest income was $306.5M, and the efficiency ratio (noninterest expense / revenue) was 51.2%. Operating activities generated $153.5M of cash, leaving $149.4M of free cash flow. At fiscal year end, Nicolet Bankshares held $9.19B in total assets against $7.93B in total liabilities.
Open the full interactive Nicolet Bankshares financials → Quarterly statements, key ratios, valuation history and price charts.
Nicolet Bankshares Key Stats
| Share Price | $163.33 |
|---|---|
| Market Cap | $3.55B |
| P/E Ratio | 16.7 |
| Revenue YoY Growth | +11.9% |
| 52-Week Range | $113.98 – $178.64 |
| Shares Outstanding | 21.2 million (basic, 2026 Q2) |
Nicolet Bankshares Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $129.3M | $158.0M | $240.0M | $241.5M | $268.1M | $306.5M |
| Provision for Credit Losses | $10.3M | $14.9M | $10.9M | $5.0M | $3.9M | $4.2M |
| Noninterest Income | $62.6M | $67.4M | $57.9M | $36.0M | $82.3M | $85.6M |
| Noninterest Expense | $100.7M | $129.3M | $160.6M | $185.9M | $191.4M | $200.8M |
| Revenue | $192.0M | $225.3M | $297.9M | $277.5M | $350.3M | $392.0M |
| Pre-Tax Income | $80.9M | $81.1M | $125.7M | $86.6M | $155.1M | $187.0M |
| Income Tax | $20.5M | $20.5M | $31.5M | $25.1M | $31.1M | $36.3M |
| Net Income | $60.1M | $60.7M | $94.3M | $61.5M | $124.1M | $150.7M |
| Diluted EPS | $5.70 | $5.44 | $6.56 | $4.08 | $8.05 | $9.78 |
Nicolet Bankshares Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $102.9M | $104.0M | $134.9M | $177.8M |
| Net Income | $41.7M | $40.3M | $15.2M | $56.9M |
| Diluted EPS | $2.73 | $2.62 | $0.81 | $2.62 |
Nicolet Bankshares Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Loans (Net) | — | $4.57B | $6.12B | $6.29B | $6.56B | $6.77B |
| Total Assets | $4.55B | $7.70B | $8.76B | $8.47B | $8.80B | $9.19B |
| Deposits | $3.91B | $6.47B | — | $7.20B | $7.40B | $7.73B |
| Total Long-Term Debt | $53.9M | $216.9M | $225.3M | $166.9M | $161.4M | $134.9M |
| Total Liabilities | $4.01B | $6.80B | $7.79B | $7.43B | $7.62B | $7.93B |
| Shareholders' Equity | $539.2M | $891.9M | $972.5M | $1.04B | $1.17B | $1.26B |
Nicolet Bankshares Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $78.9M | $97.7M | $117.4M | $108.0M | $133.7M | $153.5M |
| Cash From Investing | -$208.7M | -$370.6M | -$516.4M | $591.5M | -$288.4M | -$230.7M |
| Cash From Financing | $750.6M | $65.4M | -$41.6M | -$362.7M | $199.3M | $201.4M |
| Free Cash Flow | $68.1M | $84.9M | $105.2M | $89.8M | $117.2M | $149.4M |
Figures from Nicolet Bankshares' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Nicolet Bankshares financials page for every line item.
Nicolet Bankshares Company Profile
| Ticker | NIC |
|---|---|
| Exchange | NYSE |
| Industry | National Commercial Banks |
| Headquarters | Green Bay, Wisconsin |
| Incorporated in | Wisconsin |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001174850 |
Frequently Asked Questions
What was Nicolet Bankshares' revenue in fiscal 2025?
Nicolet Bankshares (NIC) reported revenue of $392.0M for fiscal 2025.
What is Nicolet Bankshares' annual revenue history?
Nicolet Bankshares' annual revenue by fiscal year: 2020: $192.0M; 2021: $225.3M; 2022: $297.9M; 2023: $277.5M; 2024: $350.3M; 2025: $392.0M.
What was Nicolet Bankshares' net income in fiscal 2025?
Nicolet Bankshares reported net income of $150.7M for fiscal 2025.
What was Nicolet Bankshares' earnings per share (EPS) in fiscal 2025?
Nicolet Bankshares' diluted EPS was $9.78 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Nicolet Bankshares generate in fiscal 2025?
Nicolet Bankshares generated $149.4M of free cash flow in fiscal 2025.
What was Nicolet Bankshares' revenue last quarter?
In its most recent reported quarter (2026 Q2), Nicolet Bankshares reported revenue of $177.8M.
How much debt does Nicolet Bankshares have?
Nicolet Bankshares reported $134.9M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Nicolet Bankshares are outstanding?
Nicolet Bankshares reported a weighted average of 21.2 million basic shares outstanding in 2026 Q2.
What is Nicolet Bankshares' market cap?
Based on its latest closing price, Nicolet Bankshares (NIC) has a market capitalization of about $3.55B.
When does Nicolet Bankshares' fiscal year end?
Nicolet Bankshares' fiscal year end, as registered with the SEC, is December 31.
Where is Nicolet Bankshares headquartered?
Nicolet Bankshares lists its business address in Green Bay, Wisconsin in its SEC filings.