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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 $112.19Diluted shares 20.2M

Nicolet Bankshares, Inc. operates as a registered bank and financial holding company providing comprehensive banking and financial services through its principal subsidiary, Nicolet National Bank. The company's website is www.nicoletbank.com. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$392.04M
+11.9% year over year
Last 12 mo $519.47M
0.00%
$150.69M
+21.5% year over year
Last 12 mo $154.16M
11.98%
+1.4 percentage points
Last 12 mo 6.79%
Cash & financing
$153.53M
+14.8% year over year
Last 12 mo $182.53M
$149.44M
+27.5% year over year
Last 12 mo $174.11M
6.25
Was 6.45× a year earlier
Last 12 mo 0.04
15.4M
−0.1% year over year
Last 12 mo 20.2M

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. operates as a registered bank and financial holding company providing comprehensive banking and financial services through its principal subsidiary, Nicolet National Bank. The company's website is www.nicoletbank.com.

Nicolet conducts its primary banking operations across Wisconsin, Michigan, Minnesota, Iowa, and Denver, Colorado, following its February 2026 acquisition of MidWestOne Financial Group. The company operates 114 branch locations and serves customers through online banking, mobile banking platforms, and a dedicated call center. As of December 31, 2025, Nicolet maintained total assets of $9.2 billion, loans of $6.8 billion, deposits of $7.7 billion, and stockholders' equity of $1.3 billion.

The company's core business encompasses commercial and consumer lending, deposit gathering, and ancillary banking services. Nicolet's lending portfolio includes commercial and industrial loans, owner-occupied commercial real estate, agricultural production and real estate loans, construction and land development financing, residential mortgages, and consumer loans. Beyond traditional banking, Nicolet provides trust services, brokerage and investment advisory services through Nicolet Advisory Services, retirement plan services for business customers, and crop insurance products through Nicolet Insurance Services.

Nicolet employs 986 team members and emphasizes community engagement and employee development through its five core values: Be Real, Be Responsive, Be Personal, Be Memorable, and Be Entrepreneurial. The company maintains competitive advantages through personalized, relationship-focused service, local decision-making on credit extensions, and experienced banking professionals active in their communities. This positioning distinguishes Nicolet from larger financial institutions while offering products and services comparable to major banks.

The company has pursued strategic growth through acquisitions, completing ten transactions between 2012 and 2025, culminating in the MidWestOne merger. Nicolet's profitability depends significantly on net interest income from loans and investments, noninterest income from service charges and fees, offset by provision for credit losses, operating expenses, and taxes. The company operates as a financial holding company under Federal Reserve supervision and maintains well-capitalized status under regulatory frameworks.

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
$-51.95M$103.89M$259.74M$415.58M$571.42M2013201420152016201720182019202020212022202320242025Last 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
34.2%
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.

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  • “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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