Market Newsdesk

LIBERTY LATIN AMERICA ANNOUNCES RETIREMENT OF EDUARDO DIAZ CORONA, SVP AND GENERAL MANAGER OF LIBERTY PUERTO RICO AND USVI

Appoints Guillermo Ponce to lead operations on an interim basis.

DENVER, Colorado–(BUSINESS WIRE)–Liberty Latin America Ltd. (“Liberty Latin America” or the “Company”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced that Eduardo Díaz-Corona, SVP and General Manager of the Company’s operations in Puerto Rico and the U.S. Virgin Islands, has decided to retire at the end of July. Díaz-Corona joined Liberty Latin America in January 2024 and has stabilized the business after the transformation process following the transition of the acquired AT&T mobile operations.

Balan Nair, President and CEO of Liberty Latin America, the parent company of Liberty Puerto Rico and USVI, said, “I asked Eduardo to come out of retirement to bring his experience and expertise to help us navigate through our customer migration and bring a fresh perspective to our commercial operations. After getting us to this stage, Eduardo decided that it is time for him to step away and enjoy more time with his family. I am so grateful for all his contributions.”

On the appointment of Ponce, Nair continued, “With Eduardo’s departure, I have asked Guillermo to step in as General Manager for our operations in Puerto Rico and the U.S. Virgin Islands on an interim basis. Guillermo is a proven leader and has tremendous commercial and operating experience having led multiple large businesses across Liberty Latin America’s footprint. I have no doubt he will add significant value.”

Eduardo commented, “It has been an honor to serve in this role and be part of an amazing team that is enabling connectivity across Puerto Rico and the U.S. Virgin Islands. I’m incredibly proud of what we’ve accomplished together, the focus we have brought to putting our customers first, and the positive impact we’ve had on our communities. As I step away, I have full confidence in the bright future ahead for the business and that Liberty’s best days are still to come.”

ABOUT LIBERTY LATIN AMERICA

Liberty Latin America is a leading communications company operating in over 20 countries across Latin America and the Caribbean under the consumer brands BTC, Flow, Liberty, and Más Móvil. The communications and entertainment services that we offer to our residential and business customers in the region include digital video, broadband internet, telephony and mobile services. Our business products and services include enterprise-grade connectivity, data center, hosting and managed solutions, as well as information technology solutions with customers ranging from small and medium enterprises to international companies and governmental agencies. In addition, Liberty Latin America operates a subsea and terrestrial fiber optic cable network that connects over 30 markets in the region.

Liberty Latin America has three separate classes of common shares, which are traded on the NASDAQ Global Select Market under the symbols “LILA” (Class A) and “LILAK” (Class C), and on the OTC link under the symbol “LILAB” (Class B).

For more information, please visit www.lla.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715461877/en/

Investor Relations:

Soomit Datta [email protected]

Corporate Communications:

Michael Coakley [email protected]

 

KEYWORDS: Latin America Caribbean United States North America Colorado

INDUSTRY KEYWORDS: Technology Mobile/Wireless Telecommunications Networks Internet Carriers and Services

MEDIA:

Logo

John B. Sanfilippo & Son, Inc. Declares $0.60 Per Share Special Dividend and a Regular Annual Dividend of $0.90 Per Share

ELGIN, Ill.–(BUSINESS WIRE)–John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced that its Board of Directors (the “Board”) declared a special cash dividend (the “Special Dividend”) of $0.60 per share on all issued and outstanding shares of Common Stock of the Company and $0.60 per share on all issued and outstanding shares of Class A Common Stock of the Company. In addition to the Special Dividend, the Board declared a regular annual cash dividend (the “Annual Dividend”) of $0.90 per share on all issued and outstanding shares of Common Stock of the Company and $0.90 per share on all issued and outstanding shares of Class A Common Stock of the Company. The aggregate payment of both the Special Dividend and Annual Dividend will return approximately $17.7 million to Company stockholders.

The Special Dividend and the Annual Dividend will be paid on September 11, 2025, to stockholders of record as of the close of business on August 19, 2025.

“We are pleased to announce the $0.60 per share Special Dividend and the $0.90 per share Annual Dividend,” stated Jeffrey T. Sanfilippo, Chairman and Chief Executive Officer. “Our financial performance over the first three quarters of fiscal 2025 has provided us the opportunity to declare the Special Dividend and increase our Annual Dividend by $0.05 per share over last year’s Annual Dividend. This year marks the eighth year in a row we have increased our Annual Dividend. These dividends, like our previous dividends, further reinforce our goal of creating long-term stockholder value through the responsible use of cash. Furthermore, these dividends would not be possible without the hard work and dedication of all our employees,” Mr. Sanfilippo concluded.

ABOUT THE COMPANY

John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit-based products, snack bars, and dried cheese snacks that are sold under a variety of private brands and under the Company’s Fisher®, Orchard Valley Harvest®,Squirrel Brand®, Southern Style Nuts®, and Just the Cheese® brand names.

Forward Looking Statements

Some of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as “will”, “intends”, “may”, “believes”, “anticipates”, “should” and “expects” and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such as a decline in sales to one or more key customers, or to customers or in the nut category generally, in some or all channels, a change in product mix to lower price products, a decline in sales of private brand products or changing consumer preferences, including a shift from higher margin products to lower margin products; (ii) changes in the availability and costs of raw materials and ingredients due to tariffs and other import restrictions and the impact of fixed price commitments with customers; (iii) the ability to pass on price increases to customers if commodity costs rise and the potential for a negative impact on demand for, and sales of, our products from price increases; (iv) the ability to measure and estimate bulk inventory, fluctuations in the value and quantity of the Company’s nut inventories due to fluctuations in the market prices of nuts and bulk inventory estimation adjustments, respectively; (v) the Company’s ability to appropriately respond to, or lessen the negative impact of, competitive and pricing pressures; (vi) losses associated with product recalls, product contamination, food labeling or other food safety issues, or the potential for lost sales or product liability if customers lose confidence in the safety of the Company’s products or in nuts or nut products in general, or are harmed as a result of using the Company’s products; (vii) the ability of the Company to control costs (including inflationary costs) and manage shortages or other disruptions in areas such as inputs, transportation and labor; (viii) uncertainty in economic conditions, including the potential for inflation or economic downturn leading to decreased consumer demand; (ix) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company’s control; (x) the adverse effect of labor unrest or disputes, litigation and/or legal settlements, including potential unfavorable outcomes exceeding any amounts accrued; (xi) losses due to significant disruptions at any of our production or processing facilities or employee unavailability due to labor shortages; (xii) the ability to implement our Long-Range Plan, including growing our branded and private brand product sales, diversifying our product offerings (including by the launch of new products) and expanding into alternative sales channels; (xiii) technology disruptions or failures or the occurrence of cybersecurity incidents or breaches; (xiv) the inability to protect the Company’s brand value, intellectual property or avoid intellectual property disputes; (xv) our ability to manage the impacts of changing weather patterns on raw material availability due to climate change; and (xvi) our ability to operate our acquired snack bar assets and realize efficiencies and synergies from such acquisition.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715414162/en/

Company

Frank S. Pellegrino

Chief Financial Officer

847-214-4138

Investor Relations

John Beisler or Steven Hooser

Three Part Advisors, LLC

817-310-8776

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Packaging Retail Convenience Store Manufacturing Supermarket Food/Beverage

MEDIA:

Logo

Valaris Schedules Second Quarter 2025 Earnings Release and Conference Call

HAMILTON, Bermuda–(BUSINESS WIRE)–
Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) will hold its second quarter 2025 earnings conference call at 9:00 a.m. CDT (10:00 a.m. EDT) on Thursday, July 31, 2025. The earnings release will be issued before the New York Stock Exchange opens that morning.

The conference call will be webcast live at www.valaris.com. Alternatively, callers may dial +1-855-239-3215 within the United States or +1-412-542-4130 from outside the U.S. It is recommended that participants call 10 minutes prior to the scheduled start time.

A webcast replay and transcript of the call will be available on the Company’s website. A replay will also be available through August 31, 2025, by dialing +1-877-344-7529 within the United States or +1-412-317-0088 from outside the U.S. (conference ID 1556736).

Valaris uses its website to disclose material and non-material information to investors, customers, employees and others interested in the Company. To receive regular updates on Valaris news or SEC filings, please sign-up for Email Alerts on the Company’s website.

About Valaris Limited

Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715262063/en/

Investor & Media Contacts:

Nick Georgas

Vice President – Treasurer and Investor Relations

+1-713-979-4632

Tim Richardson

Director – Investor Relations

+1-713-979-4619

KEYWORDS: Caribbean United States Bermuda North America

INDUSTRY KEYWORDS: Maritime Energy Transport Oil/Gas

MEDIA:

Logo

EPR Properties Declares Monthly Dividend for Common Shareholders

KANSAS CITY, Mo.–(BUSINESS WIRE)–
EPR Properties (NYSE:EPR) today announced that its Board of Trustees has declared its monthly cash dividend to common shareholders. The dividend of $0.295 per common share is payable August 15, 2025 to shareholders of record on July 31, 2025. This dividend represents an annualized dividend of $3.54 per common share.

About EPR Properties

EPR Properties (NYSE:EPR) is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have total assets of approximately $5.5 billion (after accumulated depreciation of approximately $1.6 billion) across 44 states. We adhere to rigorous underwriting and investing criteria centered on key industry, property and tenant level cash flow standards. We believe our focused approach provides a competitive advantage and the potential for stable and attractive returns. Further information is available at www.eprkc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715614368/en/

EPR Properties

Brian Moriarty

Senior Vice President – Corporate Communications

[email protected] | 816-472-1700

KEYWORDS: United States North America Missouri

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property REIT

MEDIA:

Logo

The GEO Group Announces Date for Second Quarter 2025 Earnings Release and Conference Call

• Earnings Release Scheduled for Wednesday, August 6, 2025 Before the Market Opens
• Conference Call Scheduled for Wednesday, August 6, 2025 at 11:00 AM (Eastern Time)

BOCA RATON, Fla.–(BUSINESS WIRE)–The GEO Group, Inc. (NYSE:GEO) (“GEO”) will release its second quarter 2025 financial results on Wednesday, August 6, 2025 before the market opens. GEO has scheduled a conference call and simultaneous webcast for 11:00 AM (Eastern Time) on Wednesday, August 6, 2025.

Hosting the call for GEO will be George Zoley, Executive Chairman of the Board, J. David Donahue, Chief Executive Officer, and Mark Suchinski, Chief Financial Officer.

To participate in the teleconference, please contact one of the following numbers 5 minutes prior to the scheduled start time:

1-877-250-1553 (U.S.)

1-412-542-4145 (International)

In addition, a live audio webcast of the conference call may be accessed on the Webcasts section of GEO’s investor relations home page at investors.geogroup.com. A webcast replay will remain available on the website for one year.

A telephonic replay will also be available through August 13, 2025. The replay numbers are 1-877-344-7529 (U.S.) and 1-412-317-0088 (International). The passcode for the telephonic replay is 2104307. If you have any questions, please contact GEO at 1-866-301-4436.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715563646/en/

Pablo E. Paez 1-866-301-4436

Executive Vice President, Corporate Relations

KEYWORDS: United States North America Florida

INDUSTRY KEYWORDS: Commercial Building & Real Estate Other Defense Construction & Property Contracts Homeland Security Law Enforcement/Emergency Services Public Policy/Government Government Technology Other Construction & Property Defense

MEDIA:

Logo

Titan America to Announce Q2 2025 Financial Results on July 29

NORFOLK, Va.–(BUSINESS WIRE)–
Titan America SA (“Titan America”) (NYSE: TTAM), a leading vertically-integrated producer of cement and building materials with operations across the U.S. East Coast, is scheduled to announce its second quarter 2025 financial results on Tuesday, July 29, 2025, after the New York Stock Exchange closes. Titan America will host a call to discuss its financial results at 5:00 p.m. ET the same day.

The conference call will be broadcast live over the Internet. Additionally, a slide presentation will accompany the conference call. To listen to the call and view the slides, please visit the Investors section of Titan America’s website at https://www.titanamerica.com/. For those who are unable to listen to the live broadcast, an audio replay of the conference call will be available on the Titan America website for 30 days.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Titan America SA

Titan America is a leading vertically-integrated producer of cement and building materials in the high-growth economic mega-regions of the U.S. East Coast, with operations and leading market positions across Florida, the Mid-Atlantic, and Metro New York/New Jersey. Titan America’s family of company brands includes Essex Cement, Roanoke Cement, Titan Florida, Titan Virginia Ready-Mix, S&W Ready-Mix, Powhatan Ready Mix, Titan Mid-Atlantic Aggregates, and Separation Technologies. Titan America’s operations include cement plants, construction aggregates and sand mines, ready-mix concrete plants, concrete block plants, fly ash production facilities, marine import and rail terminals, and distribution hubs.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715976848/en/

Email: [email protected]

Website: https://ir.titanamerica.com

Phone: 757-901-4152

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Other Construction & Property Construction & Property Other Manufacturing Manufacturing

MEDIA:

Logo

Williams to Report Second-Quarter 2025 Financial Results on Aug. 4; Earnings Conference Call and Webcast Scheduled for Aug. 5

TULSA, Okla.–(BUSINESS WIRE)–
Williams (NYSE: WMB) plans to announce its second-quarter 2025 financial results after the market closes on Monday, Aug. 4, 2025.

The company’s second-quarter 2025 conference call and webcast with analysts and investors is scheduled for Tuesday, Aug. 5, 2025, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). Participants who wish to join the call by phone must register using the following link: https://register-conf.media-server.com/register/BI0c7d8b43d5744aa5bfbc571f1e145173.

A webcast link to the conference call will be provided on Williams’ Investor Relations website. A replay of the webcast will be available on the website for at least 90 days following the event.

About Williams

Williams (NYSE: WMB) is a trusted energy industry leader committed to safely, reliably, and responsibly meeting growing energy demand. We use our 33,000-mile pipeline infrastructure to move a third of the nation’s natural gas to where it’s needed most, supplying the energy used to heat our homes, cook our food and generate low-carbon electricity. For over a century, we’ve been driven by a passion for doing things the right way. Today, our team of problem solvers is leading the charge into the clean energy future – by powering the global economy while delivering immediate emissions reductions within our natural gas network and investing in new energy technologies. Learn more at www.williams.com.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although Williams believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in Williams’ annual and quarterly reports filed with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715215742/en/

MEDIA:

[email protected]

(800) 945-8723

INVESTOR CONTACT:

Danilo Juvane

(918) 573-5075

Caroline Sardella

(918) 230-9992

KEYWORDS: United States North America Oklahoma

INDUSTRY KEYWORDS: Green Technology Oil/Gas Energy Environment Utilities

MEDIA:

Logo

Rithm Property Trust Inc. Schedules Second Quarter 2025 Earnings Release and Conference Call

NEW YORK–(BUSINESS WIRE)–
Rithm Property Trust Inc. (NYSE: RPT, “Rithm Property Trust” or the “Company”) announced today that it will release its second quarter 2025 financial results for the period ended June 30, 2025 on Thursday, July 24, 2025 following the closing of the New York Stock Exchange. In addition, management will host a conference call on Thursday, July 24, 2025 at 5:00 P.M. Eastern Time.

A webcast of the conference call will be available to the public on a listen-only basis at the Company’s website, www.rithmpropertytrust.com. Participants are encouraged to pre-register for the webcast at https://events.q4inc.com/attendee/244898556. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the webcast. A copy of the earnings release will also be posted to the News section of the Company’s website.

A replay of the conference call will also be available two hours following the call’s completion through 11:59 P.M. Eastern Time on Thursday, August 7, 2025 in the Events & Presentations section of the Company’s website.

About Rithm Property Trust Inc.

Rithm Property Trust is a real estate investment platform externally managed by an affiliate of Rithm Capital Corp. (NYSE: RITM). Rithm Property Trust has historically focused on acquiring, investing in and managing re-performing loans and non-performing loans secured by single-family residences and commercial properties. In connection with the 2024 strategic transaction with Rithm Capital, the Company transitioned to a flexible commercial real estate focused investment strategy. Rithm Property Trust is a Maryland corporation that is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715741278/en/

Investor Relations

[email protected]

(646) 868-5483

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Professional Services Other Construction & Property Residential Building & Real Estate Commercial Building & Real Estate Finance Construction & Property REIT

MEDIA:

Logo

Nicolet Bankshares, Inc. Announces Record Quarterly Net Income for Second Quarter 2025

• Record quarterly net income of $36 million for second quarter 2025, compared to net income of $33 million in prior quarter, and net income of $29 million for second quarter 2024
• Quarterly return on average assets of 1.62%, the highest level since the March 2023 balance sheet restructuring
• Quarterly net interest margin of 3.72%, an increase of 14 bps over the first quarter
• Solid quarter-over-quarter loan growth of $94 million (5.6% annualized) and core deposit growth of $68 million (4.1% annualized)
• Repurchased 257,402 common shares for $30 million during second quarter 2025

GREEN BAY, Wis.–(BUSINESS WIRE)–
Nicolet Bankshares, Inc. (NYSE: NIC) (“Nicolet”) announced record quarterly net income of $36 million for second quarter 2025 and earnings per diluted common share of $2.34, compared to net income of $33 million and earnings per diluted common share of $2.08 for first quarter 2025, and net income of $29 million and earnings per diluted common share of $1.92 for second quarter 2024.

“Our quarterly results again demonstrated strong performance and continued consistency in a volatile market,” said Mike Daniels, Chairman, President, and CEO of Nicolet. “What we saw in the second quarter is a testament to the tenacity and vibrancy of our customers and the markets we serve. Loan growth continued at a healthy pace, as did core deposits. Mortgage revenues also saw their seasonal growth return, driven by housing demand in the upper Midwest. Our net interest margin continued to grow at a healthy pace as rates remained stable, and our profitability metrics are likely to place us near the top decile of community banks. Overall, it was a very solid quarter for us.”

“These results aren’t happening because of one or two big things, but rather a thousand little things done by nearly a thousand people who show up each day and matter to their customers and communities,” Daniels continued. “I am impressed but not surprised by our mid-year results. Our people truly embrace the challenge of finding a way to make a meaningful impact. We remain focused at all levels of Nicolet to keep this momentum going and continue to create shared success for our customers, communities, shareholders, and each other.”

Balance Sheet Review

At June 30, 2025, period end assets were $8.9 billion, a decrease of $44 million from March 31, 2025, mostly from lower cash balances. Total loans increased $94 million from March 31, 2025 (mostly in commercial-based loans), while total deposits of $7.5 billion at June 30, 2025, decreased $31 million from March 31, 2025, including a $99 million decrease in brokered deposits partly offset by a $68 million increase in customer (core) deposits. Long-term borrowings decreased $22 million from the prior quarter due to the redemption of a subordinated note issuance. Total capital was $1.2 billion at June 30, 2025, an increase of $7 million over March 31, 2025, with solid earnings and favorable movements in the securities portfolio market valuation partly offset by common stock repurchases and the quarterly common stock dividend.

Asset Quality

Nonperforming assets were $29 million and represented 0.32% of total assets at June 30, 2025, down slightly from 0.33% of total assets at March 31, 2025 and 0.34% of total assets at June 30, 2024. The allowance for credit losses-loans was $68 million and represented 1.00% of total loans at June 30, 2025, compared to $67 million (or 1.00% of total loans) at March 31, 2025, and $65 million (or 1.00% of total loans) at June 30, 2024. Asset quality trends remain solid and loan net charge-offs were negligible.

Income Statement Review – Quarter

Net income was $36 million for second quarter 2025, compared to net income of $33 million for first quarter 2025.

Net interest income was $75 million for second quarter 2025, $4 million higher than first quarter 2025, primarily due to solid loan growth. Interest income increased $5 million between the sequential quarters, while interest expense increased $1 million. The net interest margin for second quarter 2025 was 3.72%, up 14 bps from 3.58% for first quarter 2025. The yield on interest-earning assets increased 15 bps (to 5.82%), while the cost of interest-bearing liabilities for second quarter 2025 increased 3 bps (to 2.86%).

Noninterest income of $21 million for second quarter 2025 increased $2 million from first quarter 2025, mostly due to seasonal improvements in net mortgage income and favorable market valuations on the nonqualified deferred compensation plan assets. Wealth income decreased $0.2 million, while card interchange income increased $0.4 million.

Noninterest expense of $50 million for second quarter 2025 increased $2 million from first quarter 2025. Personnel expense increased $3 million from higher incentives (commensurate with solid quarterly earnings) and higher market valuations on the nonqualified deferred compensation plan liabilities, while non-personnel related expenses combined decreased $1 million (mostly lower marketing).

About Nicolet Bankshares, Inc.

Nicolet Bankshares, Inc. is the bank holding company of Nicolet National Bank, a growing, full-service, community bank providing services ranging from commercial, agricultural and consumer banking to wealth management and retirement plan services. Founded in Green Bay in 2000, Nicolet National Bank operates branches primarily in Wisconsin, Michigan, and Minnesota. More information can be found at www.nicoletbank.com.

Use of Non-GAAP Financial Measures

This communication contains non-GAAP financial measures, such as non-GAAP adjusted net income, non-GAAP adjusted earnings per diluted common share, tangible book value per common share, return on average tangible common equity, and tangible common equity to tangible assets. Management believes such measures to be helpful to management, investors and others in understanding Nicolet’s results of operations and financial position. When non-GAAP financial measures are used, the comparable GAAP financial measures, as well as the reconciliation of the non-GAAP measures to the GAAP financial measures, are provided. See “Reconciliation of Non-GAAP Financial Measures (Unaudited)” below. The non-GAAP net income measure and related reconciliation provide information useful to investors in understanding the operating performance and trends of Nicolet and also aid investors in comparing Nicolet’s financial performance to the financial performance of peer banks. Management considers non-GAAP financial ratios to be critical metrics with which to analyze and evaluate financial condition and capital strengths. While non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of results as reported under GAAP.

Nicolet Bankshares, Inc.
Consolidated Balance Sheets (Unaudited)
(In thousands, except share data)		6/30/2025				3/31/2025				12/31/2024				9/30/2024				6/30/2024
Assets
Cash and due from banks		$	129,607			$	105,085			$	115,943			$	124,076			$	109,674
Interest-earning deposits			293,031				467,095				420,104				303,908				298,856
Cash and cash equivalents			422,638				572,180				536,047				427,984				408,530
Securities available for sale, at fair value			849,253				838,105				806,415				825,907				799,937
Other investments			59,594				58,627				62,125				63,632				64,720
Loans held for sale			9,955				8,092				7,637				11,121				9,450
Loans			6,839,141				6,745,598				6,626,584				6,556,840				6,529,134
Allowance for credit losses – loans			(68,408	)			(67,480	)			(66,322	)			(65,785	)			(65,414	)
Loans, net			6,770,733				6,678,118				6,560,262				6,491,055				6,463,720
Premises and equipment, net			123,723				125,274				126,979				123,585				120,988
Bank owned life insurance (“BOLI”)			189,342				187,902				186,448				185,011				171,972
Goodwill and other intangibles, net			385,107				386,588				388,140				389,727				391,421
Accrued interest receivable and other assets			120,464				120,336				122,742				119,096				126,279
Total assets		$	8,930,809			$	8,975,222			$	8,796,795			$	8,637,118			$	8,557,017
Liabilities and Stockholders’ Equity
Liabilities:
Noninterest-bearing demand deposits		$	1,800,335			$	1,689,129			$	1,791,228			$	1,839,617			$	1,764,806
Interest-bearing deposits			5,741,338				5,883,061				5,612,456				5,420,380				5,476,272
Total deposits			7,541,673				7,572,190				7,403,684				7,259,997				7,241,078
Long-term borrowings			134,340				156,563				161,387				161,210				162,433
Accrued interest payable and other liabilities			64,698				63,201				58,826				66,584				62,093
Total liabilities			7,740,711				7,791,954				7,623,897				7,487,791				7,465,604
Stockholders’ Equity:
Common stock			149				152				154				151				150
Additional paid-in capital			601,625				630,340				655,540				647,934				639,159
Retained earnings			625,243				594,068				565,772				535,638				507,366
Accumulated other comprehensive income (loss)			(36,919	)			(41,292	)			(48,568	)			(34,396	)			(55,262	)
Total stockholders’ equity			1,190,098				1,183,268				1,172,898				1,149,327				1,091,413
Total liabilities and stockholders’ equity		$	8,930,809			$	8,975,222			$	8,796,795			$	8,637,118			$	8,557,017
Common shares outstanding			14,924,086				15,149,341				15,356,785				15,104,381				14,945,598

Nicolet Bankshares, Inc.
Consolidated Statements of Income (Unaudited)
		For the Three Months Ended																		For the Six Months Ended
(In thousands, except per share data)		6/30/2025				3/31/2025				12/31/2024				9/30/2024			6/30/2024			6/30/2025				6/30/2024
Interest income:
Loans, including loan fees		$	105,976			$	100,666			$	100,605			$	100,824		$	97,975		$	206,642			$	191,623
Taxable investment securities			6,027				5,560				5,369				5,211			5,056			11,587				9,613
Tax-exempt investment securities			1,017				1,049				1,073				1,095			1,152			2,066				2,390
Other interest income			4,618				5,466				5,787				5,492			4,695			10,084				9,283
Total interest income			117,638				112,741				112,834				112,622			108,878			230,379				212,909
Interest expense:
Deposits			40,472				39,465				39,138				42,060			41,386			79,937				80,376
Short-term borrowings			—				—				—				2			—			—				—
Long-term borrowings			2,057				2,070				2,146				2,194			2,150			4,127				4,384
Total interest expense			42,529				41,535				41,284				44,256			43,536			84,064				84,760
Net interest income			75,109				71,206				71,550				68,366			65,342			146,315				128,149
Provision for credit losses			1,050				1,500				1,000				750			1,350			2,550				2,100
Net interest income after provision for credit losses			74,059				69,706				70,550				67,616			63,992			143,765				126,049
Noninterest income:
Wealth management fee income			6,811				6,975				7,208				7,085			6,674			13,786				13,159
Mortgage income, net			2,907				1,926				3,326				2,853			2,634			4,833				3,998
Service charges on deposit accounts			1,962				2,025				1,877				1,913			1,813			3,987				3,394
Card interchange income			3,699				3,337				3,541				3,564			3,458			7,036				6,556
BOLI income			1,429				1,420				1,421				1,455			1,225			2,849				2,572
Asset gains (losses), net			(199	)			(354	)			510				1,177			616			(553	)			2,525
Deferred compensation plan asset market valuations			1,437				45				(192	)			1,162			169			1,482				228
LSR income, net			950				1,057				1,064				1,090			1,117			2,007				2,251
Other noninterest income			1,637				1,792				2,103				2,079			1,903			3,429				4,348
Total noninterest income			20,633				18,223				20,858				22,378			19,609			38,856				39,031
Noninterest expense:
Personnel expense			29,114				26,521				26,682				28,937			26,285			55,635				52,795
Occupancy, equipment and office			9,104				9,330				8,685				8,826			8,681			18,434				17,625
Business development and marketing			1,593				2,100				2,325				1,823			2,040			3,693				4,182
Data processing			4,682				4,525				4,668				4,535			4,281			9,207				8,551
Intangibles amortization			1,481				1,552				1,587				1,694			1,762			3,033				3,595
FDIC assessments			1,029				940				990				990			990			1,969				2,023
Other noninterest expense			2,916				2,819				3,268				2,343			2,814			5,735				5,229
Total noninterest expense			49,919				47,787				48,205				49,148			46,853			97,706				94,000
Income before income tax expense			44,773				40,142				43,203				40,846			36,748			84,915				71,080
Income tax expense			8,738				7,550				8,723				8,330			7,475			16,288				14,017
Net income		$	36,035			$	32,592			$	34,480			$	32,516		$	29,273		$	68,627			$	57,063
Earnings per common share:
Basic		$	2.40			$	2.14			$	2.25			$	2.16		$	1.96		$	4.53			$	3.82
Diluted		$	2.34			$	2.08			$	2.19			$	2.10		$	1.92		$	4.42			$	3.74
Common shares outstanding:
Basic weighted average			15,029				15,256				15,297				15,052			14,937			15,142				14,922
Diluted weighted average			15,431				15,647				15,710				15,479			15,276			15,538				15,263

Nicolet Bankshares, Inc.
Consolidated Financial Summary (Unaudited)
		For the Three Months Ended																				For the Six Months Ended
(In thousands, except share & per share data)		6/30/2025				3/31/2025				12/31/2024				9/30/2024				6/30/2024				6/30/2025				6/30/2024
Selected Average Balances:
Loans		$	6,833,236			$	6,710,206			$	6,581,059			$	6,542,532			$	6,496,732			$	6,772,060			$	6,447,785
Investment securities			900,469				886,010				884,376				873,212				881,190				893,280				882,982
Interest-earning assets			8,140,178				8,078,997				7,946,309				7,824,773				7,733,097				8,109,756				7,681,109
Cash and cash equivalents			423,272				497,865				493,237				431,632				374,176				460,363				369,276
Goodwill and other intangibles, net			385,735				387,260				388,824				390,453				392,171				386,494				393,066
Total assets			8,909,653				8,849,412				8,716,611				8,596,812				8,481,186				8,879,698				8,430,891
Deposits			7,504,224				7,446,107				7,314,632				7,247,321				7,183,777				7,475,325				7,148,373
Interest-bearing liabilities			5,972,117				5,953,083				5,667,803				5,653,259				5,658,642				5,962,651				5,584,262
Stockholders’ equity (common)			1,183,316				1,178,868				1,163,477				1,118,242				1,070,379				1,181,104				1,059,487
Selected Ratios: (1)
Book value per common share		$	79.74			$	78.11			$	76.38			$	76.09			$	73.03			$	79.74			$	73.03
Tangible book value per common share (2)		$	53.94			$	52.59			$	51.10			$	50.29			$	46.84			$	53.94			$	46.84
Return on average assets			1.62	%			1.49	%			1.57	%			1.50	%			1.39	%			1.56	%			1.36	%
Return on average common equity			12.21				11.21				11.79				11.57				11.00				11.72				10.83
Return on average tangible common equity (2)			18.12				16.70				17.71				17.77				17.36				17.42				17.22
Average equity to average assets			13.28				13.32				13.35				13.01				12.62				13.30				12.57
Stockholders’ equity to assets			13.33				13.18				13.33				13.31				12.75				13.33				12.75
Tangible common equity to tangible assets (2)			9.42				9.28				9.33				9.21				8.57				9.42				8.57
Net interest margin *			3.72				3.58				3.61				3.51				3.42				3.65				3.37
Efficiency ratio			51.79				52.94				52.17				54.57				55.24				52.34				56.75
Effective tax rate			19.52				18.81				20.19				20.39				20.34				19.18				19.72
Selected Asset Quality Information:
Nonaccrual loans		$	27,735			$	28,325			$	28,419			$	25,565			$	27,838			$	27,735			$	27,838
Other real estate owned			881				946				693				859				1,147				881				1,147
Nonperforming assets		$	28,616			$	29,271			$	29,112			$	26,424			$	28,985			$	28,616			$	28,985
Net loan charge-offs (recoveries)		$	372			$	342			$	363			$	379			$	283			$	714			$	296
Allowance for credit losses-loans to loans			1.00	%			1.00	%			1.00	%			1.00	%			1.00	%			1.00	%			1.00	%
Net charge-offs to average loans (1)			0.02				0.02				0.02				0.02				0.02				0.02				0.01
Nonperforming loans to total loans			0.41				0.42				0.43				0.39				0.43				0.41				0.43
Nonperforming assets to total assets			0.32				0.33				0.33				0.31				0.34				0.32				0.34
Stock Repurchase Information: (3)
Common stock repurchased ($)		$	29,989			$	26,047			$	10,137			$	—			$	—			$	56,036			$	—
Common stock repurchased (shares)			257,402				233,207				92,440				—				—				490,609				—

* During fourth quarter 2024, Nicolet changed the annualization methodology utilized for the calculation of selected net interest margin components from actual/360 to actual/actual to be more consistent with the methodology typically used by peer banks and to cause quarterly results to be more consistent with annual results. Prior periods have been restated for this change in methodology. There was no change to the reported average balances or interest recognized.
(1)		Income statement-related ratios for partial-year periods are annualized.
(2)		See Reconciliation of Non-GAAP Financial Measures below for a reconciliation of these financial measures.
(3)		Reflects common stock repurchased under board of director authorizations for the common stock repurchase program.

Nicolet Bankshares, Inc.
Consolidated Loan & Deposit Metrics (Unaudited)
(In thousands)		6/30/2025			3/31/2025			12/31/2024			9/30/2024			6/30/2024
Period End Loan Composition
Commercial & industrial		$	1,412,621		$	1,409,320		$	1,319,763		$	1,351,516		$	1,358,152
Owner-occupied commercial real estate (“CRE”)			963,278			949,107			940,367			920,533			941,137
Agricultural			1,346,924			1,329,807			1,322,038			1,261,152			1,224,885
Commercial			3,722,823			3,688,234			3,582,168			3,533,201			3,524,174
CRE investment			1,231,423			1,225,490			1,221,826			1,226,982			1,198,020
Construction & land development			298,122			273,007			239,694			231,694			247,565
Commercial real estate			1,529,545			1,498,497			1,461,520			1,458,676			1,445,585
Commercial-based loans			5,252,368			5,186,731			5,043,688			4,991,877			4,969,759
Residential construction			88,152			91,321			96,110			85,811			90,904
Residential first mortgage			1,205,841			1,194,116			1,196,158			1,194,574			1,190,790
Residential junior mortgage			249,406			235,096			234,634			223,456			218,512
Residential real estate			1,543,399			1,520,533			1,526,902			1,503,841			1,500,206
Retail & other			43,374			38,334			55,994			61,122			59,169
Retail-based loans			1,586,773			1,558,867			1,582,896			1,564,963			1,559,375
Total loans		$	6,839,141		$	6,745,598		$	6,626,584		$	6,556,840		$	6,529,134
Period End Deposit Composition
Noninterest-bearing demand		$	1,800,335		$	1,689,129		$	1,791,228		$	1,839,617		$	1,764,806
Interest-bearing demand			1,266,507			1,239,075			1,168,560			1,035,593			1,093,621
Money market			1,900,639			1,988,648			1,942,367			1,928,977			1,963,559
Savings			805,300			794,223			774,707			763,024			762,529
Time			1,768,892			1,861,115			1,726,822			1,692,786			1,656,563
Total deposits		$	7,541,673		$	7,572,190		$	7,403,684		$	7,259,997		$	7,241,078
Brokered transaction accounts		$	307,527		$	249,537		$	163,580		$	159,547		$	250,109
Brokered time deposits			450,948			607,725			586,852			549,907			557,657
Total brokered deposits		$	758,475		$	857,262		$	750,432		$	709,454		$	807,766
Customer transaction accounts		$	5,465,254		$	5,461,538		$	5,513,282		$	5,407,664		$	5,334,406
Customer time deposits			1,317,944			1,253,390			1,139,970			1,142,879			1,098,906
Total customer deposits (core)		$	6,783,198		$	6,714,928		$	6,653,252		$	6,550,543		$	6,433,312

Nicolet Bankshares, Inc.
Net Interest Income and Net Interest Margin Analysis (Unaudited)
		For the Three Months Ended
		June 30, 2025										March 31, 2025										June 30, 2024
		Average							Average			Average							Average			Average						Average
(In thousands)		Balance			Interest				Rate *			Balance			Interest				Rate *			Balance			Interest			Rate *
ASSETS
Total loans (1) (2)		$	6,833,236		$	106,103			6.23	%		$	6,710,206		$	100,804			6.08	%		$	6,496,732		$	98,086		6.07	%
Investment securities (2)			900,469			7,371			3.27	%			886,010			6,951			3.14	%			881,190			6,579		2.99	%
Other interest-earning assets			406,473			4,618			4.56	%			482,781			5,466			4.58	%			355,175			4,695		5.31	%
Total interest-earning assets			8,140,178		$	118,092			5.82	%			8,078,997		$	113,221			5.67	%			7,733,097		$	109,360		5.68	%
Other assets, net			769,475										770,415										748,089
Total assets		$	8,909,653									$	8,849,412									$	8,481,186
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing core deposits		$	5,001,714		$	31,677			2.54	%		$	5,001,535		$	30,783			2.50	%		$	4,665,195		$	31,713		2.73	%
Brokered deposits			814,789			8,795			4.33	%			790,460			8,682			4.45	%			831,100			9,673		4.68	%
Total interest-bearing deposits			5,816,503			40,472			2.79	%			5,791,995			39,465			2.76	%			5,496,295			41,386		3.03	%
Wholesale funding			155,614			2,057			5.30	%			161,088			2,070			5.21	%			162,347			2,150		5.33	%
Total interest-bearing liabilities			5,972,117		$	42,529			2.86	%			5,953,083		$	41,535			2.83	%			5,658,642		$	43,536		3.09	%
Noninterest-bearing demand deposits			1,687,721										1,654,112										1,687,482
Other liabilities			66,499										63,349										64,683
Stockholders’ equity			1,183,316										1,178,868										1,070,379
Total liabilities and stockholders’ equity		$	8,909,653									$	8,849,412									$	8,481,186
Net interest income and rate spread					$	75,563			2.96	%					$	71,686			2.84	%					$	65,824		2.59	%
Net interest margin									3.72	%									3.58	%								3.42	%
Loan purchase accounting accretion (3)					$	1,475			0.09	%					$	1,475			0.09	%					$	1,527		0.08	%
Loan nonaccrual interest (3)					$	(26	)		0.00	%					$	(304	)		(0.02	)%					$	329		0.02	%
		For the Six Months Ended
		June 30, 2025										June 30, 2024
		Average							Average			Average							Average
(In thousands)		Balance			Interest				Rate *			Balance			Interest				Rate *
ASSETS
Total loans (1) (2)		$	6,772,060		$	206,907			6.15	%		$	6,447,785		$	191,830			5.98	%
Investment securities (2)			893,280			14,322			3.21	%			882,982			12,776			2.89	%
Other interest-earning assets			444,416			10,084			4.57	%			350,342			9,283			5.32	%
Total interest-earning assets			8,109,756		$	231,313			5.74	%			7,681,109		$	213,889			5.59	%
Other assets, net			769,942										749,782
Total assets		$	8,879,698									$	8,430,891
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing core deposits		$	5,001,624		$	62,460			2.52	%		$	4,664,932		$	62,969			2.71	%
Brokered deposits			802,691			17,477			4.39	%			755,612			17,407			4.63	%
Total interest-bearing deposits			5,804,315			79,937			2.78	%			5,420,544			80,376			2.98	%
Wholesale funding			158,336			4,127			5.26	%			163,718			4,384			5.38	%
Total interest-bearing liabilities			5,962,651		$	84,064			2.84	%			5,584,262		$	84,760			3.05	%
Noninterest-bearing demand deposits			1,671,010										1,727,829
Other liabilities			64,933										59,313
Stockholders’ equity			1,181,104										1,059,487
Total liabilities and stockholders’ equity		$	8,879,698									$	8,430,891
Net interest income and rate spread					$	147,249			2.90	%					$	129,129			2.54	%
Net interest margin									3.65	%									3.37	%
Loan purchase accounting accretion (3)					$	2,950			0.09	%					$	3,055			0.08	%
Loan nonaccrual interest (3)					$	(330	)		(0.01	)%					$	88			—	%

* During fourth quarter 2024, Nicolet changed the annualization methodology utilized for the calculation of selected net interest margin components from actual/360 to actual/actual to be more consistent with the methodology typically used by peer banks and to cause quarterly results to be more consistent with annual results. Prior periods have been restated for this change in methodology. There was no change to the reported average balances or interest recognized.
(1)		Nonaccrual loans and loans held for sale are included in the daily average loan balances outstanding.
(2)		The yield on tax-exempt loans and tax-exempt investment securities is computed on a tax-equivalent basis using a federal tax rate of 21%, and adjusted for the disallowance of interest expense.
(3)		Loan purchase accounting accretion and Loan nonaccrual interest included in Total loans interest above, and the related impact to net interest margin.

Nicolet Bankshares, Inc.
Reconciliation of Non-GAAP Financial Measures (Unaudited)
		For the Three Months Ended																		For the Six Months Ended
(In thousands, except per share data)		6/30/2025			3/31/2025			12/31/2024				9/30/2024				6/30/2024				6/30/2025			6/30/2024
Adjusted net income reconciliation: (1)
Net income (GAAP)		$	36,035		$	32,592		$	34,480			$	32,516			$	29,273			$	68,627		$	57,063
Adjustments:
Assets (gains) losses, net (2)			199			354			(510	)			(1,177	)			(616	)			553			(2,525	)
Adjustments subtotal			199			354			(510	)			(1,177	)			(616	)			553			(2,525	)
Tax on Adjustments (3)			39			69			(99	)			(230	)			(120	)			108			(492	)
Adjusted net income (Non-GAAP)		$	36,195		$	32,877		$	34,069			$	31,569			$	28,777			$	69,072		$	55,030
Diluted earnings per common share:
Diluted earnings per common share (GAAP)		$	2.34		$	2.08		$	2.19			$	2.10			$	1.92			$	4.42		$	3.74
Adjusted Diluted earnings per common share (Non-GAAP)		$	2.35		$	2.10		$	2.17			$	2.04			$	1.88			$	4.45		$	3.61
Tangible assets: (4)
Total assets		$	8,930,809		$	8,975,222		$	8,796,795			$	8,637,118			$	8,557,017
Goodwill and other intangibles, net			385,107			386,588			388,140				389,727				391,421
Tangible assets		$	8,545,702		$	8,588,634		$	8,408,655			$	8,247,391			$	8,165,596
Tangible common equity: (4)
Stockholders’ equity (common)		$	1,190,098		$	1,183,268		$	1,172,898			$	1,149,327			$	1,091,413
Goodwill and other intangibles, net			385,107			386,588			388,140				389,727				391,421
Tangible common equity		$	804,991		$	796,680		$	784,758			$	759,600			$	699,992
Tangible average common equity: (4)
Average stockholders’ equity (common)		$	1,183,316		$	1,178,868		$	1,163,477			$	1,118,242			$	1,070,379			$	1,181,104		$	1,059,487
Average goodwill and other intangibles, net			385,735			387,260			388,824				390,453				392,171				386,494			393,066
Average tangible common equity		$	797,581		$	791,608		$	774,653			$	727,789			$	678,208			$	794,610		$	666,421

Note: Numbers may not sum due to rounding.
(1)		The adjusted net income measure and related reconciliation provide information useful to investors in understanding the operating performance and trends of Nicolet and also to aid investors in the comparison of Nicolet’s financial performance to the financial performance of peer banks.
(2)		Includes the gains / (losses) on other assets and investments.
(3)		Assumes an effective tax rate of 19.5%.
(4)		The ratios of tangible book value per common share, return on average tangible common equity, and tangible common equity to tangible assets exclude goodwill and other intangibles, net. These financial ratios have been included as they are considered to be critical metrics with which to analyze and evaluate financial condition and capital strength.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250715774524/en/

[email protected]

KEYWORDS: United States North America Wisconsin

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Logo