Nicolet Bankshares Management

Management criteria checks 4/4

Nicolet Bankshares' CEO is Mike Daniels, appointed in Apr 2021, has a tenure of 3.75 years. total yearly compensation is $1.42M, comprised of 49.2% salary and 50.8% bonuses, including company stock and options. directly owns 0.64% of the company’s shares, worth $10.12M. The average tenure of the management team and the board of directors is 3.7 years and 15.4 years respectively.

Key information

Mike Daniels

Chief executive officer

US$1.4m

Total compensation

CEO salary percentage	49.2%
CEO tenure	3.8yrs
CEO ownership	0.6%
Management average tenure	3.7yrs
Board average tenure	15.4yrs

Recent management updates

Recent updates

Nicolet Bankshares' (NYSE:NIC) Shareholders Will Receive A Bigger Dividend Than Last Year

May 24

Nicolet Bankshares Non-GAAP EPS of $1.84 misses by $0.16, revenue of $82.94M beats by $10.98M

Jan 17

Nicolet Bankshares Non-GAAP EPS of $1.74 misses by $0.06, revenue of $75.99M beats by $15.24M

Oct 25

Nicolet Bankshares GAAP EPS of $1.73 beats by $0.04, revenue of $69.22M beats by $11.88M

Jul 19

Analysts Just Made A Major Revision To Their Nicolet Bankshares, Inc. (NASDAQ:NCBS) Revenue Forecasts

May 13

Nicolet: Wisconsin Acquirer With Upside

Feb 02

This Just In: Analysts Are Boosting Their Nicolet Bankshares, Inc. (NASDAQ:NCBS) Outlook for This Year

Jan 22

Industry Analysts Just Upgraded Their Nicolet Bankshares, Inc. (NASDAQ:NCBS) Revenue Forecasts By 14%

Jul 22

CEO Compensation Analysis

How has Mike Daniels's remuneration changed compared to Nicolet Bankshares's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$120m
Jun 30 2024	n/a	n/a	US$105m
Mar 31 2024	n/a	n/a	US$98m
Dec 31 2023	US$1m	US$700k	US$62m
Sep 30 2023	n/a	n/a	US$58m
Jun 30 2023	n/a	n/a	US$60m
Mar 31 2023	n/a	n/a	US$61m
Dec 31 2022	US$2m	US$700k	US$94m
Sep 30 2022	n/a	n/a	US$83m
Jun 30 2022	n/a	n/a	US$72m
Mar 31 2022	n/a	n/a	US$67m
Dec 31 2021	US$4m	US$562k	US$61m
Sep 30 2021	n/a	n/a	US$62m
Jun 30 2021	n/a	n/a	US$73m
Mar 31 2021	n/a	n/a	US$68m
Dec 31 2020	US$2m	US$521k	US$60m
Sep 30 2020	n/a	n/a	US$54m
Jun 30 2020	n/a	n/a	US$50m
Mar 31 2020	n/a	n/a	US$55m
Dec 31 2019	US$3m	US$510k	US$55m
Sep 30 2019	n/a	n/a	US$53m
Jun 30 2019	n/a	n/a	US$51m
Mar 31 2019	n/a	n/a	US$42m
Dec 31 2018	US$1m	US$495k	US$41m

Compensation vs Market: Mike's total compensation ($USD1.42M) is below average for companies of similar size in the US market ($USD5.47M).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.

CEO

Mike Daniels (60 yo)

3.8yrs

Tenure

US$1,423,772

Compensation

Mr. Michael E. Daniels, also known as Mike, serves as President and Chief Executive Officer at Nicolet Bankshares, Inc. since April 26, 2021 and also serves as its Chairman since December 31, 2023. Mr. Dan...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michael Daniels	President	3.8yrs	US$1.42m	0.64% $ 10.1m
H. Moore	Chief Financial Officer	3.6yrs	US$836.54k	0.22% $ 3.5m
Robert Atwell	Executive Director	less than a year	US$1.09m	0.20% $ 3.2m
Eric Witczak	Executive VP & Secretary	3.8yrs	US$754.30k	0.23% $ 3.7m
Eric Radzak	Corporate Development Officer & Investor Relations	no data	no data	no data
Jeff Gahnz	Vice President of Marketing & Public Relations	no data	no data	no data

3.7yrs

Average Tenure

60yo

Average Age

Experienced Management: NIC's management team is considered experienced (3.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Michael Daniels	President	23yrs	US$1.42m	0.64% $ 10.1m
Robert Atwell	Executive Director	25yrs	US$1.09m	0.20% $ 3.2m
Andrew Hetzel	Independent Director	6.7yrs	US$64.97k	0.054% $ 853.2k
Susan Merkatoris	Independent Director	22yrs	US$83.47k	0.55% $ 8.6m
Robert Weyers	Independent Director	25yrs	US$72.47k	0.62% $ 9.7m
Donald Long	Independent Director	25yrs	US$71.22k	0.53% $ 8.3m
Dustin McClone	Independent Director	7.8yrs	US$68.97k	0.029% $ 458.4k
Oliver Smith	Independent Director	7.8yrs	US$67.97k	2.94% $ 46.2m
Christopher Ghidorzi	Director	11.8yrs	US$72.47k	0.052% $ 825.1k
John Dykema	Independent Director	19yrs	US$69.72k	0.35% $ 5.5m
Lynn Davis	Independent Director	3.1yrs	US$65.47k	0.079% $ 1.2m
Hector Colon	Independent Director	3.5yrs	US$67.47k	0.022% $ 352.2k

15.4yrs

Average Tenure

60.5yo

Average Age

Experienced Board: NIC's board of directors are seasoned and experienced ( 15.4 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/10 00:34
End of Day Share Price	2025/01/10 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Nicolet Bankshares, Inc. is covered by 8 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Kevin Reevey	D.A. Davidson & Co.
Brendan Nosal	Hovde Group, LLC
Erik Zwick	Hovde Group, LLC

Nicolet Bankshares Management

Management criteria checks 4/4

Key information

Recent management updates

Executive Director recently sold US$253k worth of stock

Executive Director notifies of intention to sell stock

President exercised options and sold US$467k worth of stock

Executive Director notifies of intention to sell stock

Executive VP & Secretary recently sold US$1.5m worth of stock

Executive VP & Secretary notifies of intention to sell stock

Recent updates

Third quarter dividend of US$0.28 announced

Nicolet Bankshares, Inc. Declares Quarterly Dividend, Payable on December 16, 2024

Price target increased by 8.3% to US$117

Executive Director recently sold US$253k worth of stock

Executive Director notifies of intention to sell stock

New minor risk - Shareholder dilution

Third quarter 2024 earnings: EPS and revenues exceed analyst expectations

President exercised options and sold US$467k worth of stock

Second quarter dividend of US$0.28 announced

Nicolet Bankshares, Inc. Declares Quarterly Cash Dividend, Payable on September 16, 2024

Executive Director notifies of intention to sell stock

Executive VP & Secretary recently sold US$1.5m worth of stock

Executive VP & Secretary notifies of intention to sell stock

Price target increased by 21% to US$108

Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Independent Director recently sold US$237k worth of stock

Independent Director notifies of intention to sell stock

Nicolet Bankshares' (NYSE:NIC) Shareholders Will Receive A Bigger Dividend Than Last Year

First quarter dividend increased to US$0.28

Nicolet Bankshares, Inc. Declares Quarterly Cash Dividend, Payable on June 14, 2024

First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Nicolet Bankshares, Inc. Reports Net Loan Charge-Offs for the First Quarter Ended March 31, 2024

Executive Director recently sold US$176k worth of stock

Executive Director notifies of intention to sell stock

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Nicolet Bankshares, Inc. Declares Quarterly Cash Dividend, Payable on March 15, 2024

Consensus revenue estimates increase by 15%

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Executive VP & Secretary notifies of intention to sell stock

President notifies of intention to sell stock

Executive Chairman recently sold US$153k worth of stock

Nicolet Bankshares, Inc. Declares Quarterly Cash Dividend, Payable on December 15, 2023

Independent Director recently sold US$230k worth of stock

Nicolet Bankshares, Inc. Announces Step Down of Robert Atwell as Executive Chairman of the Board, Effective January 1, 2024

President notifies of intention to sell stock

Independent Director recently sold US$225k worth of stock

Independent Director notifies of intention to sell stock

Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Nicolet Bankshares, Inc. Reports Net Loan Charge-Offs for the Third Quarter Ended September 30, 2023

Upcoming dividend of US$0.25 per share at 1.3% yield

Nicolet Bankshares, Inc. Declares Quarterly Cash Dividend, Payable on September 15, 2023

Nicolet Bankshares, Inc. to Report Q3, 2023 Results on Oct 24, 2023

Executive Chairman exercised options and sold US$551k worth of stock

Price target increased by 16% to US$83.40

Second quarter 2023 earnings: EPS exceeds analyst expectations

Now 24% undervalued

Investor sentiment improves as stock rises 23%

Investor sentiment improves as stock rises 16%

Nicolet Bankshares, Inc. Elects Glen E. Tellock as Director

Chief Financial Officer recently bought US$85k worth of stock

Consensus EPS estimates fall by 39%

First quarter 2023 earnings: EPS and revenues miss analyst expectations

Price target decreased by 8.8% to US$78.60

Price target decreased by 7.1% to US$83.60

Price target decreased by 10% to US$86.20

Full year 2022 earnings: EPS misses analyst expectations

Consensus EPS estimates fall by 11%

Full year 2022 earnings: EPS misses analyst expectations

Nicolet Bankshares, Inc. Reports Net Loan Charge-Offs for the Fourth Quarter Ended December 31, 2022

Nicolet Bankshares Non-GAAP EPS of $1.84 misses by $0.16, revenue of $82.94M beats by $10.98M

Nicolet Bankshares, Inc. Reports Net Loan Charge-Offs for the Third Quarter Ended September 30, 2022

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Nicolet Bankshares Non-GAAP EPS of $1.74 misses by $0.06, revenue of $75.99M beats by $15.24M

Independent Director recently bought US$757k worth of stock

Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Nicolet Bankshares GAAP EPS of $1.73 beats by $0.04, revenue of $69.22M beats by $11.88M

Nicolet Bankshares, Inc.(NYSE:NIC) dropped from NASDAQ Composite Index

Independent Director recently bought US$759k worth of stock

Analysts Just Made A Major Revision To Their Nicolet Bankshares, Inc. (NASDAQ:NCBS) Revenue Forecasts