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Companies / Financials / Nicolet Bankshares, Inc.
NIC

Nicolet Bankshares, Inc.

FinancialsCommercial Banks
Ticker NICGREEN BAY, WIFiscal year ends DecemberBook value per share $108.01Diluted shares 20.7M

Nicolet Bankshares, Inc. (NYSE: NIC) is a financial holding company whose principal business is community banking through Nicolet National Bank. It provides lending, deposit services and related banking products to businesses and individuals, including small and medium-sized businesses, agricultural borrowers,… From the company’s description.

Over the twelve months to Sep 30, 2026, Nicolet Bankshares, Inc. reported revenue of $591.02M, up 55.3% from a year earlier, and net income of $176.15M. Its pre-tax margin was 37.7%. In fiscal 2025, it reported revenue of $392.04M, up 11.9% from fiscal 2024, and net income of $150.69M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$392.04MFY2025
+11.9% year over year
Last 12 mo $591.02M
47.69%FY2025
+3.4 percentage points
Last 12 mo 37.71%
$150.69MFY2025
+21.5% year over year
Last 12 mo $176.15M
11.98%FY2025
+1.4 percentage points
Last 12 mo 7.88%
Cash & financing
$153.53MFY2025
+14.8% year over year
Last 12 mo $209.39M
$149.44MFY2025
+27.5% year over year
Last 12 mo $195.31M
6.25FY2025
Was 6.45× a year earlier
Last 12 mo 5.68
15.4MFY2025
−0.1% year over year
Last 12 mo 20.7M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Nicolet Bankshares, Inc. does

In the company’s own words

Nicolet Bankshares, Inc. (NYSE: NIC) is a financial holding company whose principal business is community banking through Nicolet National Bank. It provides lending, deposit services and related banking products to businesses and individuals, including small and medium-sized businesses, agricultural borrowers, professionals and consumers. Offerings include commercial, agricultural and residential loans; business and consumer deposit accounts; cash management; online and mobile banking; and trust, brokerage, investment management and retirement plan services. The company also owns Nicolet Advisory Services, which provides brokerage and investment advice, and Nicolet Insurance Services, which facilitates crop insurance related to agricultural lending. Nicolet reported one principal banking business rather than separate reportable operating segments. At December 31, 2025, it had $9.2 billion in assets, 57 branches and 986 employees; its February 2026 acquisition of MidWestOne added another 57 branches and expanded its footprint into Iowa and Denver, Colorado. Before the acquisition, its primary markets were Wisconsin, Michigan and Minnesota. Its website is www.nicoletbank.com.

Company details
Sector
Financials
Industry (SIC)
Commercial Banks
Headquarters
GREEN BAY, WI
Fiscal year end
December
CIK
1174850
SIC
6021

Financial performance, year by year

Fiscal 2013–2025 · USD
$-59.10M$118.20M$295.51M$472.82M$650.12M2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Nicolet Bankshares, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

244
funds hold it
0 of 35
superinvestors hold it
$1.14B
held by funds, at market
34.5%
of shares held by funds

Largest fund holders · Nicolet Bankshares, Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.17%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.10%of fund net assets
0.93%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.04%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Nicolet Bankshares, Inc. and its peers compare on margins and cash generation over ten years?”
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  • “What changed in Nicolet Bankshares, Inc.'s last four quarterly filings that the numbers alone won't show?”
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