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Earnings analysis · 10-Q

NIC earnings analysis

Filed May 6, 2026 · Our reading of the company's report

The latest report

Nicolet Bankshares experienced a challenging Q1 2026, with reported revenue of $109.6 million and diluted EPS of $0.81, both lower than consensus expectations. The company faced a significant impact from…

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Nicolet Bankshares experienced a challenging Q1 2026, with reported revenue of $109.6 million and diluted EPS of $0.81, both lower than consensus expectations. The company faced a significant impact from acquisition-related expenses stemming from the MidWestOne acquisition. Despite these challenges, core earnings showed resilience, reflecting strong net interest income and increased loan volumes related to the acquisition.

Read the original on SEC.gov

Reported figures

Earnings per share
$0.81

What stood out

  • Revenue Decline vs Prior Period

    Revenue for Q1 2026 was $109.6 million, down from $131 million in Q1 2025, a decrease of 16.4%.

  • Core EPS Resilience

    Core diluted EPS (non-GAAP) reached $2.75, slightly above prior quarter but affected by merger expenses.

  • Strong Net Interest Income Growth

    Net interest income increased by 54% year-over-year to $109.6 million due to the MidWestOne acquisition.

  • Significant Asset Growth

    Total assets rose to $15.6 billion, a 70% increase attributed to the MidWestOne acquisition.

  • Increase in Noninterest Income

    Noninterest income for Q1 2026 was $25.3 million, a 39% increase compared to Q1 2025.

  • Enhanced Net Interest Margin

    Net interest margin improved to 3.98%, up from 3.58% in Q1 2025.

What to watch

  • High Merger-Related Expenses

    Q1 2026 saw $40.7 million in merger-related expenses, significantly impacting GAAP earnings.

  • Increased Provision for Credit Losses

    Provision for credit losses rose to $6 million, compared to $1.5 million a year earlier.

  • Nonperforming Assets Increase

    Nonperforming assets rose to $79.5 million, an increase from $32.3 million at December 31, 2025.

Management's outlook

Management's outlook indicates expected cost savings from integration, but no numeric revenue or EPS guidance was provided.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.