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Nicolet BANKSHARES , INC . FOR IMMEDIATE RELEASE NICOLET BANKSHARES , INC . ANNOUNCES SECOND QUARTER 2021 EARNINGS • Net income of $ 18.3 million , consistent with first quarter 2021 and 36 % higher than second quarter 2020 • • Net income of $ 36.5 million for first six months of 2021 , compared to $ 24.0 million for first six months of 2020 Earnings per diluted common share of $ 1.77 and $ 3.52 for the three and six months ended June 30 • Return on average assets of 1.62 % and 1.63 % for the three and six months ended June 30 • Agreement to acquire County Bancorp , Inc. announced June 22 • Regulatory and shareholder approvals for Mackinac merger received Exhibit 99.1 Green Bay , Wisconsin , July 20 , 2021 - Nicolet Bankshares , Inc. ( NASDAQ : NCBS ) ( “ Nicolet ” ) announced second quarter 2021 net income of $ 18.3 million and earnings per diluted common share of $ 1.77 , compared to $ 18.2 million and $ 1.75 for first quarter 2021 , and $ 13.5 million and $ 1.28 for second quarter 2020 , respectively . Annualized quarterly return on average assets was 1.62 % , 1.64 % and 1.26 % , for second quarter 2021 , first quarter 2021 and second quarter 2020 , respectively . Net income for the six months ended June 30 , 2021 was $ 36.5 million and earnings per diluted common share was $ 3.52 , compared to net income of $ 24.0 million and earnings per diluted common share of $ 2.25 for the first half of 2020. Annualized return on average assets was 1.63 % and 1.23 % for the first six months of 2021 and 2020 , respectively . " In the second quarter results , we see a focused effort by our team to work together , across all revenue lines , to serve our customers , communities , and each other . While most of the spotlight has been on our acquisition announcements , we understand and are executing on the most important part of our job - to run a high - performing , operationally excellent community bank , ” said Mike Daniels , President and CEO of Nicolet . " The one constant at Nicolet has always been change . We had a busy quarter , with the title changes for Bob and me , two deal announcements , and our Subordinated Notes offering . In addition , while we were welcoming Phil to his new role as CFO , we needed to replace our accounting firm from Wipfli ( where Phil was a partner ) to BKD . I knew our team would respond well to these changes , and the numbers prove that , ” Daniels said . “ All revenue lines continue to grow organically , and our value is resonating in the communities in which we operate . " " This second quarter was a strong quarter for us , ” commented Bob Atwell , Executive Chairman of Nicolet . “ Seeing our customers thrive , watching our employees serving our customers so well , and being able to communicate these results to our shareholders , this is why we show up for work every day and fulfill our purpose . " The timing of Nicolet's acquisition of Advantage Community Bancshares , Inc. ( " Advantage " ) on August 21 , 2020 , at 4 % of then pre - merger assets , impacts financial comparisons . At consummation , Advantage added $ 172 million in assets , $ 88 million in loans , $ 1 million in core deposit intangible , $ 12 million in goodwill , $ 141 million in deposits and four branches . Balance Sheet Review At June 30 , 2021 , period end assets were $ 4.6 billion , an increase of $ 44 million ( 1 % ) from March 31 , 2021 , mostly in cash and cash equivalents ( up $ 57 million to $ 792 million ) . Total loans decreased $ 26 million from March 31 , 2021 , including a $ 79 million decline in PPP loans , partly offset by growth of $ 53 million in the rest of the loan portfolio . Total deposits of $ 3.9 billion at June 30 , 2021 , increased $ 38 million ( 1 % ) from March 31 , 2021 , with a decrease of $ 11 million in brokered deposits ( as brokered deposits mature without renewal given our liquid position ) more than offset by a $ 49 million increase in customer core deposits . Total capital was $ 559 million at June 30 , 2021 , an increase of $ 9 million