PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of parent company only condensed financial statements

Condensed Parent Company only financial statements of Nicolet Bankshares, Inc. follow.

Balance Sheets	December 31,
(in thousands)	2022		2021
Assets
Cash and due from subsidiary	$	63,927	$	84,656
Investments	10,313		9,684
Investments in subsidiaries	1,094,063		998,032
Other assets	392		1,503
Total assets	$	1,168,695	$	1,093,875
Liabilities and Stockholders’ Equity
Junior subordinated debentures	$	39,720	$	38,885
Subordinated notes	152,622		153,030
Other liabilities	3,824		10,069
Stockholders’ equity	972,529		891,891
Total liabilities and stockholders’ equity	$	1,168,695	$	1,093,875

Statements of Income	Years Ended December 31,
(in thousands)	2022		2021		2020
Interest income	$	81	$	18	$	39
Interest expense	8,687		2,959		2,313
Net interest expense	(8,606)		(2,941)		(2,274)
Dividend income from subsidiaries	77,775		65,000		60,215
Operating expense	(457)		(2,562)		(886)
Gain (loss) on investments, net	395		3,995		(1,087)
Income tax benefit	2,373		437		1,102
Earnings before equity in undistributed income (loss) of subsidiaries	71,480		63,929		57,070
Equity in undistributed income (loss) of subsidiaries	22,780		(3,277)		3,052
Net income attributable to Nicolet Bankshares, Inc.	$	94,260	$	60,652	$	60,122

Statements of Cash Flows	Years Ended December 31,
(in thousands)	2022		2021		2020
Cash Flows From Operating Activities:
Net income attributable to Nicolet Bankshares, Inc.	$	94,260	$	60,652	$	60,122
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of discounts on borrowings	427		584		486
(Gain) loss on investments, net	(395)		(3,995)		1,087
Change in other assets and liabilities, net	(1,775)		1,013		1,786
Equity in undistributed (income) loss of subsidiaries, net of dividends	(22,780)		3,277		(3,052)
Net cash provided by operating activities	69,737		61,531		60,429
Cash Flows from Investing Activities:
Proceeds from sale of investments	1,835		4,105		185
Purchases of investments	(2,116)		(5,049)		(1,179)
Net cash paid in business combinations	(31,970)		(63,892)		(21,644)
Net cash used in investing activities	(32,251)		(64,836)		(22,638)
Cash Flows From Financing Activities:
Purchase and retirement of common stock	(61,497)		(62,583)		(42,088)
Proceeds from issuance of common stock, net	3,282		2,382		2,055
Capitalized issuance costs, net	—		(789)		—
Repayment of long-term borrowings	—		—		(18,186)
Proceeds from issuance of subordinated notes, net	—		98,953		—
Net cash provided by (used in) financing activities	(58,215)		37,963		(58,219)
Net increase (decrease) in cash and due from subsidiary	(20,729)		34,658		(20,428)
Beginning cash and due from subsidiary	84,656		49,998		70,426
Ending cash and due from subsidiary	$	63,927	$	84,656	$	49,998