Nicolet Bankshares Q2 2026: Core EPS Hits $2.99 as Margin Expands to 4.14% and MidWest One Integration Advances
NIC sits 50% above its 52-week low of $114.115.
Summary
Nicolet Bankshares posted Q2 2026 net income of $56.9M, or $2.62 diluted EPS, with core EPS reaching $2.99. The net interest margin expanded to 4.14%, fueled by the MidWest One acquisition. In July, the Denver branch sale closed and the board raised the share repurchase authorization by $150M.
Key Events · Earnings and Guidance · NIC
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Core EPS Beats at $2.99
GAAP diluted EPS of $2.62 for Q2 2026 included $0.37 in merger-related and debt extinguishment costs. Stripping those out, core diluted EPS came in at $2.99, up from $2.35 a year ago.
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Net Interest Margin Expands to 4.14%
Driven by loan purchase accounting accretion of 23 bps and a lower cost of funds, the net interest margin widened 42 bps year-over-year to 4.14%.
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MidWest One Integration Drives Balance Sheet Growth
Total assets climbed to $15.4B, a 68% increase from year-end 2025, as loans grew to $10.8B and deposits to $12.5B, primarily reflecting the acquisition.
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Denver Branch Divestiture Completed
The sale of Denver branches to Sunwest Bank closed on July 28, 2026. At quarter-end, approximately $402M in loans and $388M in deposits were classified as held for sale.
Analysis · NIC · Finance
The second quarter captures the full-quarter contribution from the MidWest One acquisition, lifting net interest margin to 4.14% and core EPS to $2.99. While the balance sheet has nearly doubled, credit quality remains manageable despite a modest uptick in nonperforming assets. The Denver branch divestiture closed in July, and a $150M increase to the buyback authorization underscores confidence in the capital position.
At the time of this filing, NIC was trading at $170.92 on NYSE in the Finance sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $114.12 to $174.00. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.