Nicolet Bankshares (NIC) Q2 2025 earnings summary

Executive summary

• Net income for the six months ended June 30, 2025 was $68.6 million, up from $57.1 million year-over-year; diluted EPS rose to $4.42 from $3.74.

• Achieved record quarterly net income of $36 million for Q2 2025, up from $33 million in Q1 2025 and $29 million in Q2 2024.

• Total assets reached $8.93 billion, a 2% increase from December 31, 2024, driven by loan growth.

• Loans grew by $213 million (3%) since year-end, with commercial and industrial loans leading the increase.

• Deposits increased by $138 million (2%) to $7.54 billion, with growth in both core and brokered deposits.

Financial highlights

• Net interest income for the first half of 2025 was $146.3 million, up 14% year-over-year; net interest margin improved to 3.65% from 3.37%.

• Net interest income reached $75 million in Q2 2025, $4 million higher than Q1 2025, driven by loan growth.

• Noninterest income was $38.9 million for the first half, nearly flat year-over-year; Q2 noninterest income was $21 million, up $2 million sequentially.

• Noninterest expense rose 4% to $97.7 million for the first half, mainly due to higher personnel and technology costs.

• Allowance for credit losses on loans was $68 million, representing 1.00% of total loans.

Outlook and guidance

• Management expects continued loan and deposit growth, with a focus on maintaining strong asset quality and capital levels.

• Profitability metrics are likely to place the company near the top decile of community banks.

• Interest rate environment and economic conditions remain key variables for future net interest income and margin.