Nicolet Bankshares, Inc Announces Second Quarter 2021 Earnings
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Nicolet Bankshares, Inc Announces Second Quarter 2021 Earnings
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GREEN BAY, Wis., April 20, 2021 /PRNewswire/ Nicolet Bankshares, Inc. (NASDAQ: NCBS) ( Nicolet ) announced first quarter 2021 net income of $18.2 million and earnings per diluted common share of $1.75, compared to $18.0 million and $1.74 for fourth quarter 2020, and $10.6 million and $0.98 for first quarter 2020, respectively. Annualized quarterly return on average assets was 1.64%, 1.58% and 1.19%, for first quarter 2021, fourth quarter 2020 and first quarter 2020, respectively. We are very pleased with the exceptional start to 2021, said Mike Daniels, President and CEO of Nicolet National Bank. The main themes from late 2020 continue to drive our earnings - strong mortgage income, improved asset quality, Paycheck Protection Program ( PPP ) loan activity, and expense control - producing $18 million of net income for the third consecutive quarter.
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GREEN BAY, Wis., Jan. 19, 2021 /PRNewswire/ Nicolet Bankshares, Inc. (NASDAQ: NCBS) ( Nicolet ) announced fourth quarter 2020 net income of $18.0 million and earnings per diluted common share of $1.74, compared to $18.1 million and $1.72 for third quarter 2020, and $12.3 million and $1.18 for fourth quarter 2019, respectively. Annualized quarterly return on average assets was 1.58%, 1.55% and 1.46%, for fourth quarter 2020, third quarter 2020 and fourth quarter 2019, respectively, even with elevated cash assets in 2020.
For the year ended December 31, 2020, net income was $60.1 million, 10% higher than $54.6 million for 2019. Net income for 2020 included record secondary mortgage income, higher net interest income and efficiency efforts, which partially offset $4 million of isolated costs ($3 million after-tax) in second quarter for pandemic-related actions and branch efficiency decisions as well as $9 million ($7 million after-tax) hi