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Letter portraitLegal landscapeQuarterYTD

Nicolet National Bank

Green Bay, WI · Cert 57038 · Nicolet Bankshares Inc.

National charter · OCC · 115 branches

Q2 2026

$15.4BAssets
$11.3BLoans
$13.0BDeposits
$2.3BEquity
Loan mix
79%RE $8.2B20%C&I $2.1B1%Consumer $0.1BQ3 2024Q2 2026
Deposit mix
78%Interest-bearing $10.1B22%Noninterest $2.9BQ3 2024Q2 2026

Market Position · Green Bay, WI · 2026 SOD (annual) · 18.0% share · #2 of 20 inst. · $2.7B of $14.9B

17.3% Brown
18.4% Johnson
24.5% Dubuque
64.1% Door

Executive Summary

  • Earnings: ROA of 1.17%, down 37 bps year over year; NIM at 3.50%.
  • Asset quality: problem loans at 0.63% of loans (+23 bps YoY), with net charge-offs at 0.03%.
  • Capital: tier 1 leverage ratio of 9.64%, down 3 bps from a year ago.
  • Funding: loans stand at 87.02% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.17%-37 bps YoY

Net Interest Margin (YTD, annualized)

3.50%-1 bps YoY

Efficiency Ratio (YTD, annualized)

61.51%+1,123 bps YoY

Tier 1 Leverage Ratio

9.64%-3 bps YoY

NIM

4.98%Q2 ’245.14%Q2 ’254.63%Q2 ’26+8%0%

Non-interest income vs. expense

2.11%Q2 ’242.10%Q2 ’252.54%Q2 ’26+0%+35%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.38%1.43%1.46%1.54%1.63%1.66%0.61%1.17%-37 bps
Return on Equity10.54%10.91%11.26%11.79%12.46%12.75%4.33%8.08%-371 bps
Net Interest Margin3.27%3.30%3.44%3.51%3.57%3.56%3.95%3.50%-1 bps
Efficiency Ratio53.03%52.19%50.87%50.28%49.17%48.86%74.17%61.51%+1,123 bps
Non-Interest Burden1.40%1.38%1.43%1.42%1.38%1.37%2.67%1.91%+50 bps
Growth
Asset Growth (YoY)2.67%3.92%6.29%4.36%4.52%4.39%73.49%72.60%+6,824 bps
Loan Growth (YoY)5.16%4.34%5.48%4.75%4.84%3.25%67.12%64.54%+5,979 bps
Deposit Growth (YoY)2.54%4.17%6.61%4.29%4.69%4.30%69.66%68.59%+6,430 bps
Asset Quality
Nonperforming Loans / Loans0.39%0.43%0.42%0.40%0.40%0.46%0.65%0.63%+23 bps
Net Charge-Offs / Loans0.01%0.02%0.02%0.02%0.02%0.03%0.03%0.03%+1 bps
Allowance / Loans1.00%1.00%1.00%1.00%1.00%1.00%1.18%1.19%+19 bps
Allowance Coverage of NPLs2.6x2.3x2.4x2.5x2.5x2.2x1.8x1.9x-0.6x
Capital
Tier 1 Leverage Ratio9.58%9.53%9.75%9.67%9.64%9.49%12.47%9.64%-3 bps
Total Risk-Based Capital11.58%11.67%12.24%12.05%12.08%12.12%12.21%12.20%+15 bps
Equity / Assets13.19%12.85%13.06%13.15%13.12%12.98%14.84%14.96%+181 bps
Liquidity & Funding
Loans / Deposits88.55%87.37%87.37%89.16%88.68%86.49%86.06%87.02%-214 bps
Liquid Assets / Assets3.56%4.79%5.22%3.29%4.22%6.03%3.17%2.04%-125 bps
CRE / Total Capitaln/an/an/an/a310%305%352%n/an/a