net income $56.9M. Nicolet completes MidWestOne acquisition, adding + in loans/deposits; NIM expands 42bp

Filed July 31, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 1, 2025 · ~2 min read

Key Changes

• high

  Closed MidWestOne acquisition Feb 13, 2026, issuing 6.6M shares valued at $1.0B and adding ~$6B assets, $4B loans, $5B deposits; divested acquired Denver branches ($402M loans, $388M deposits) to Sunwest Bank in July 2026.

  Notes: MidWestOne acquisition & Denver divestiture verify on EDGAR →
• high

  Net interest margin expanded 42 basis points to 4.07% from 3.65% prior year, driven by acquired portfolio's yield profile and favorable rate dynamics; net interest income rose 72% to $251M.

  MD&A: Net interest income and margin verify on EDGAR →
• high

  Noninterest expense more than doubled to $214M (+119%), including $48M in one-time merger costs; personnel costs up 60%, non-personnel up 197% from acquired operations and integration.

  MD&A: Noninterest expense verify on EDGAR →