Nicolet Bankshares, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $56.9M | $15.2M | $40.3M | $41.7M | $36.0M | $32.6M | $34.5M | $32.5M |
| Depreciation & Amortization | $979.0K | $2.2M | $4.0M | $3.6M | $3.5M | $3.9M | $3.3M | $4.4M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $6.2M | $4.1M | $1.3M | $1.4M | $1.5M | $1.6M | $1.6M | $1.7M |
| Stock-Based Compensation | $3.5M | $6.8M | $2.1M | $1.7M | $2.1M | $1.5M | $1.5M | $1.5M |
| Net Cash from Operating Activities | $93.4M | $16.3M | $27.0M | $45.9M | $38.9M | $41.8M | $33.4M | $39.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $4.1M | $1.2M | $3.1M | $-4.0K | $544.0K | $463.0K | $5.7M | $4.9M |
| Business Acquisitions | $0 | $-165.6M | — | — | $0 | $0 | — | — |
| Net Cash from Investing Activities | $-2.4M | $65.8M | $45.4M | $-38.1M | $-99.8M | $-138.2M | $-70.8M | $-41.0M |
| Financing Activities | ||||||||
| Dividends Paid | $7.7M | $6.9M | $4.8M | $4.7M | $4.9M | $4.3M | $4.3M | $4.2M |
| Stock Repurchases | $40.2M | $22.4M | $0 | $20.5M | $30.0M | $26.0M | $10.1M | $0 |
| Net Cash from Financing Activities | $-241.2M | $-126.9M | $113.9M | $43.6M | $-88.6M | $132.5M | $145.4M | $20.8M |
| Net Change in Cash | $-150.2M | $-44.8M | $186.3M | $51.3M | $-149.5M | $36.1M | $108.1M | $19.5M |
| Free Cash Flow | $89.3M | $15.1M | $23.9M | $45.9M | $38.4M | $41.3M | $27.7M | $34.7M |