Nicolet Bankshares Raises Quarterly Dividend 13% to $0.36 Per Share
Nicolet Bankshares Inc (NYSE: NIC), a community bank holding company based in Wisconsin, declared a quarterly cash dividend of $0.36 per share, up $0.04 from the previous quarter. The increase marks a 13% raise in the bank's regular payout to shareholders.
Nicolet Bankshares Inc (NYSE: NIC), a community bank holding company operating primarily in Wisconsin, Iowa, Michigan, and Minnesota, declared a quarterly cash dividend of $0.36 per share on April 21, 2026. The dividend represents a $0.04 increase from the prior quarter's $0.32 per share, a 13% raise. Read more dividend announcements.
The dividend will be paid on June 15, 2026, to shareholders of record as of June 1, 2026.
| Dividend Details | Date |
|---|---|
| Amount | $0.36 per share |
| Record Date | June 1, 2026 |
| Payment Date | June 15, 2026 |
| Frequency | Quarterly |
| Previous Dividend | $0.32 per share |
Recent Acquisition Activity
The dividend announcement came alongside Nicolet's first quarter 2026 earnings release. The company completed its acquisition of MidWestOne Financial Group on February 13, 2026, adding approximately $6 billion in assets and creating one of the largest community banks in the Upper Midwest.
MidWestOne shareholders received 0.3175 shares of Nicolet common stock for each share owned, resulting in the issuance of approximately 6.6 million shares of Nicolet common stock valued at $1.0 billion based on the closing stock price on the acquisition date.
First Quarter Financial Performance
Nicolet reported net income of $15 million, or $0.81 per diluted share, for the first quarter of 2026. Excluding merger-related expenses and other non-core items totaling $1.94 per share, core diluted earnings per share reached $2.75.
The company posted a return on average assets of 0.50% for the quarter, with core return on average assets of 1.68%. Return on average tangible common equity was 6.49%, while core return on average tangible common equity reached 19.30%.
Noninterest expense totaled $110 million for the first quarter, up $57 million from the fourth quarter of 2025, primarily due to a $39 million increase in merger-related expenses. Personnel expense increased $8 million quarter-over-quarter, reflecting the larger employee base following the MidWestOne acquisition.
Denver Branch Sale
Nicolet National Bank entered into a definitive agreement to sell its Denver, Colorado branches to Sunwest Bank in an all-cash transaction. The Denver locations, acquired in the MidWestOne deal, held approximately $390 million in loans and $380 million in deposits as of March 31, 2026.
The transaction has been approved by both boards of directors and is expected to close in the third quarter of 2026, subject to regulatory approval and standard closing conditions.