Nicolet Bankshares Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
January 17, 2017 at 04:46 pm EST
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Nicolet Bankshares Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company announced net interest income of $20,024,000 compared to $10,651,000 for the same period a year ago. Income before income taxes was $9,082,000 compared to $4,487,000 for the same period a year ago. Net income was $6,143,000 compared to $2,850,000 for the same period a year ago. Net income available to common shareholders was $6,087,000 compared to $2,819,000 for the same period a year ago. Net income per share, diluted was $0.68 compared to $0.64 for the same period a year ago. Return on average assets was 1.07% compared to 0.94% for the same period a year ago. Return on average common equity was 8.75% compared to 11.74% for the same period a year ago.
For the year, the company announced net interest income of $68,133,000 compared to $41,384,000 for the same period a year ago. Income before income taxes was $28,065,000 compared to $17,644,000 for the same period a year ago. Net income was $18,694,000 compared to $11,555,000 for the same period a year ago. Net income available to common shareholders was $18,462,000 compared to $11,428,000 for the same period a year ago. Net income per share, diluted was $2.37 compared to $2.57 for the same period a year ago. Return on average assets was 0.95% compared to 0.96% for the same period a year ago. Return on average common equity was 8.20% compared to 12.35% for the same period a year ago. Book value and tangible book value per common share was $32.26 and $21.98, respectively, at December 31, 2016, each up modestly over September 30, 2016.
Nicolet Bankshares, Inc. is the bank holding company of Nicolet National Bank (the Bank), a full-service, community bank providing services ranging from commercial, agricultural and consumer banking to wealth management and retirement plan services. The Bank operates branches in Wisconsin, Michigan and Minnesota. The Company offers a variety of loans, deposits and related services to business customers, including business checking and other business deposit products and cash management services, international banking services, as well as retirement plan services. It offers a variety of banking products and services to consumers, including residential mortgage loans and mortgage refinancing, home equity loans and lines of credit, residential construction loans, safe deposit boxes, and personal brokerage, trust and fiduciary services. The Company delivers its products and services through approximately 56 bank branch locations, online banking, mobile banking and an interactive Website.