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I N T H E N E W S
Member FDIC | Equal Housing Lender
Nicolet Bancshares Inc. Chairman Bob Atwell said 2010will be a
year for grinding out increased profits.
Atwell, who also is president and chief executive officer ofthe
Green Bay-based bank holding company, said 2009
wasnt as good a year as they would prefer, but it was
better than 2008 and better than many of their peers
andcompetitors experienced.
The privately held parent company of Nicolet NationalBank held
its annual meeting Monday in the MeyerTheatre in downtown Green
Bay.
Nicolet reported $1.17 million in net income for 2009,compared
with $189,000 in 2008. Total assets were 3percent less, to $675
million, but total loans were up 2percent to $487 million, and core
deposits were up 21percent to $394 million.
At the end of 2009, the banks Tier 1 ratio was 13.6percent and
its risk-based capital ratio was 14.8 percent.The budgeted
loan-loss reserve for 2010 is $6 million, thesame as was put aside
for 2009.
We feel we are positioned adequately to deal with assetquality
real time out of current earnings, said AnnLawson, chief financial
officer.
Nonperforming loans were 1.69 percent, compared witha statewide
average of 4.48 percent. Nonperformingassets were 1.42 percent,
compared with 3.82 percent,and net charge-offs were 1.11 percent,
compared with
2.77 percent.
We see 2010 as a year of earnings progress, kind ofgrinding it
out, Atwell said.
Commercial real estate loans will continue to be achallenge for
banks, said Mike Daniels, president andchief operating officer of
Nicolet National Bank.
Our true commercial and industrial customers are doingbetter, he
said. I think it will take a while yet (before
commercial real estate rebounds). I dont think its gottento its
worst yet.
Atwell said that during the banks first decade, it focusedon
organic growth attracting more customers butin the future
acquisitions might play a part. He said theindustry landscape has
changed. There were 8,500 banksin the United States in 2007, when
the recession started,and that number could be reduced to 5,000 in
the next six
years through bank failures and consolidations, he said.
We have the ability to pursue those things if they areopportune
for us, Atwell said.
Nicolet sold nearly $15 million of preferred stock to theU.S.
Treasury as part of the Capital Purchase Programdesigned to prop up
the banking system during themost panicky stretch of the recession.
Atwell said publiccriticism of the program resulted in Congress
attachingmore strings after the stock was sold, but called
themmostly nuisances.
We saw this as an opportunity for us to grow, andincrease
capital for defensive purposes, he said.Well repay it when it makes
the most sense for ourshareholders. I dont want to raise $15
million of
common equity right now.
Banks pay the government a 5 percent annual dividendfor the
money.
Nicolet Bancshares chairman Bob Atwell optimistic at annual
meeting | Green Bay Press-Gazette May 4, 2010
Company looks for increased profits in 2010
Richard Ryman Text
Green Bay Press-Gazette May 4, 2010
Nicolet Bancshares chairman Bob Atwelloptimistic at annual
meeting
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The company also raised $9.5 million in privateinvestment at the
time it received the federal money.
Shareholders elected the following Monday as directors:Atwell,
Daniels, Daniel Ariens, John Dykema, GaryFairchild, Michael
Felhofer, Andrew Hetzel, Jr., DonaldLong, Jr., Benjamin Meeuwsen,
Susan Merkatoris, WadeMicoley, Sandra Renard and Robert Weyers.
Member FDIC | Equal Housing Lender
Page 2 of 2 Nicolet Bancshares chairman Bob Atwell optimistic at
annual meeting | Green Bay Press-Gazette May 4, 2010
