NIC
Financial ServicesNicolet Bankshares, Inc. · Banks - Regional · $2B
What is Nicolet Bankshares, Inc.?
Nicolet Bankshares, Inc. is the holding company for Nicolet National Bank, a community-focused institution serving businesses and individuals across Wisconsin and Michigan through a network of over 50 branches.
Nicolet National Bank generates revenue primarily through traditional banking activities — accepting deposits and extending credit across commercial, agricultural, real estate, and consumer loan categories. Beyond lending, the bank earns fee income from wealth management, trust and fiduciary services, cash management, and mortgage refinancing. Digital channels including mobile banking, remote deposit capture, and online bill payment complement the branch network, helping the bank deepen relationships with both business and individual customers.
Nicolet Bankshares was established in 2013 and is headquartered in Green Bay, Wisconsin.
- Commercial and industrial loans, lines of credit, and business banking
- Agricultural production and real estate lending
- Residential mortgage and home equity products
- Wealth management, trust, and retirement plan services
- Digital banking: mobile deposits, online bill pay, remote capture
Is NIC a Good Stock to Buy?
UQS Score rates NIC as Good overall, reflecting a balanced profile across the five quality pillars.
The Quality pillar stands out as the clearest strength, suggesting Nicolet operates with above-average financial discipline relative to community bank peers. The Growth and Risk pillars both register as Good, indicating the bank is expanding at a reasonable pace while keeping its risk profile in check. Valuation is rated Attractive, meaning the market may not be fully pricing in the bank's fundamentals.
The Moat pillar is rated Weak — a common challenge for regional banks that compete in markets where switching costs and brand differentiation are limited.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does NIC pay dividends?
Yes — Nicolet Bankshares, Inc. pays a dividend.
Nicolet Bankshares pays a regular dividend, consistent with the income-return expectations many investors hold for community bank stocks. The dividend reflects the bank's ability to generate steady earnings from its lending and fee-based businesses. Income-oriented investors may find NIC's dividend cadence worth monitoring alongside the bank's broader capital allocation decisions.
When does NIC report earnings?
Nicolet Bankshares reports earnings on a quarterly cadence, typical for US-listed bank holding companies.
The bank's Good Growth and Strong Quality pillar ratings suggest earnings have been generated with reasonable consistency. Loan portfolio expansion across commercial and agricultural segments, combined with fee income from wealth management, are the primary drivers of top-line progress.
For the most recent quarter's results and guidance, visit Nicolet Bankshares' investor relations page directly.
NIC Price History
+102.0% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Nicolet Bankshares, Inc.?
Based on Nicolet Bankshares, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
NIC Long-term Outlook
Nicolet's Good Growth pillar points to continued, measured expansion — driven by organic loan growth in its Wisconsin and Michigan markets and incremental fee income from wealth and trust services. The Good Risk pillar suggests the bank's credit quality and capital position are managed prudently, which matters in a rate-sensitive environment. The Attractive Valuation label indicates the stock may offer a reasonable entry point relative to its fundamental profile, though the Weak Moat rating is a reminder that regional banking remains a competitive landscape.
Growth drivers
- Organic loan growth across commercial, agricultural, and real estate segments
- Expanding wealth management and trust fee income
- Digital banking adoption deepening customer retention
Key risks
- Interest rate sensitivity affecting net interest margin
- Limited competitive differentiation in regional banking markets
- Credit quality pressure if regional economic conditions soften
NIC vs Peers
Nicolet Bankshares operates in the competitive regional and community banking space alongside several similarly sized institutions.
NBT Bancorp serves the northeastern US with a broader geographic footprint, giving it exposure to different regional economic cycles than Nicolet's Midwest-focused markets.
First Busey operates primarily across Illinois and the broader Midwest, making it a close geographic peer with a similar community banking model.
Hilltop Holdings combines banking with mortgage origination and financial advisory services, giving it a more diversified revenue mix than a traditional community bank like Nicolet.
Frequently Asked Questions
What does Nicolet Bankshares do?
Nicolet Bankshares is the holding company for Nicolet National Bank, which provides deposit accounts, commercial and consumer loans, agricultural lending, mortgage products, and wealth management services. The bank operates branches across Wisconsin and Michigan and also offers digital banking tools for business and individual customers.
Does NIC pay dividends?
Yes, Nicolet Bankshares pays a regular dividend. This is consistent with the income-return profile many investors expect from community bank stocks. For current dividend details and payment schedules, check the company's investor relations page.
When does NIC report earnings?
Nicolet Bankshares reports on a quarterly cadence, as is standard for US-listed bank holding companies. Specific dates are not covered by our data source — visit the company's investor relations page for the current earnings calendar.
Is NIC a good stock to buy?
UQS Score rates NIC as Good overall. The Quality pillar is Strong and Valuation is Attractive, which together suggest the stock may offer reasonable value relative to its fundamentals. The Weak Moat rating is worth considering, as regional banks face meaningful competition. The full pillar breakdown is available to Pro members.
Is NIC overvalued?
The UQS Valuation pillar for NIC is rated Attractive, suggesting the stock is not obviously overpriced relative to its fundamental profile. That said, valuation should always be considered alongside quality and risk factors — the complete analysis is available with a Pro account.
How does NIC compare to its competitors?
Nicolet Bankshares competes with regional peers such as NBT Bancorp, First Busey Corporation, and Hilltop Holdings. Nicolet's focus on Wisconsin and Michigan markets and its combination of traditional banking with wealth management services distinguishes it from some broader or more diversified competitors. Side-by-side UQS pillar comparisons are available to Pro members.
What is NIC's market cap bracket?
Nicolet Bankshares is classified as a mid-cap stock. This places it in a segment of the market that often balances growth potential with more established operations than smaller community banks, though with less scale than large national institutions.
Who founded Nicolet Bankshares?
Nicolet Bankshares was incorporated in 2013 as the holding company for Nicolet National Bank, which itself has roots as a community banking institution in Green Bay, Wisconsin. Founding details are widely available through the company's public filings and official history.
Is NIC a long-term quality investment?
As a long-term quality indicator, NIC's Strong Quality pillar and Good Risk rating suggest the bank has been managed with financial discipline. The Weak Moat rating is a longer-term consideration, as sustained competitive advantage is harder to build in regional banking. Pro members can access the full multi-pillar view to assess long-term fit.
What is the main competitive advantage of Nicolet Bankshares?
Nicolet's edge lies in its community banking relationships across Wisconsin and Michigan, combined with a broader service mix that includes wealth management and trust services. However, the UQS Moat pillar rates this advantage as Weak, reflecting the structural challenges of differentiation in regional banking.
What sector does NIC belong to?
Nicolet Bankshares operates in the Financial Services sector, specifically within the community and regional banking industry. Investors interested in this sector can explore related stocks using UQS sector filters.
Is NIC a growth stock or value stock?
Based on UQS pillar labels, NIC leans toward value — the Valuation pillar is Attractive while the Growth pillar is Good rather than exceptional. This profile may appeal to investors seeking a reasonably priced bank with steady, measured growth rather than high-velocity expansion.
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Pro Analysis
NIC — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 55.9 | 73.3 | 22.0 | 68.6 | 36.4 | 86.2 | -8.0 |
| May 3, 2026 | 63.9 | 81.6 | 22.0 | 68.6 | 72.7 | 89.2 | 0.0 |
| Apr 26, 2026 | 63.9 | 81.6 | 22.0 | 68.6 | 72.7 | 89.5 | +0.3 |
| Apr 25, 2026 | 63.6 | 81.6 | 22.0 | 68.6 | 72.7 | 86.9 | -0.9 |
| Apr 24, 2026 | 64.5 | 81.6 | 22.0 | 72.7 | 72.7 | 87.9 | -0.1 |
| Apr 23, 2026 | 64.6 | 81.6 | 22.0 | 72.7 | 72.7 | 88.2 | -0.1 |
| Apr 19, 2026 | 64.7 | 81.6 | 22.0 | 72.7 | 72.7 | 88.7 | 0.0 |
| Apr 18, 2026 | 64.7 | 81.6 | 22.0 | 72.7 | 72.7 | 89.0 | -0.6 |
| Apr 14, 2026 | 65.3 | 81.6 | 22.0 | 72.7 | 72.7 | 92.9 | 0.0 |
| Apr 12, 2026 | 65.3 | 81.6 | 22.0 | 72.7 | 72.7 | 93.1 | -0.4 |
NIC — Pillar Breakdown
Quality
— 73.3/100 (25%)Nicolet Bankshares, Inc. shows solid profitability with healthy returns on capital and reasonable margins.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 68.6/100 (20%)Nicolet Bankshares, Inc. demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 36.4/100 (15%)Nicolet Bankshares, Inc. has some risk factors including moderate leverage or solvency concerns.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 86.2/100 (15%)Nicolet Bankshares, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 22/100 (25%)Nicolet Bankshares, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for NIC.
Score Composition
Financial Data
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How is the NIC UQS Score Calculated?
The UQS (Unified Quality Score) for Nicolet Bankshares, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Nicolet Bankshares, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Nicolet Bankshares, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.