ACQUISITIONS (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| Business Combinations [Abstract] |
|
| Schedule of assets acquired and liabilities assumed |
| (in millions) |
|
As recorded by
Baylake Corp |
|
|
Fair Value
Adjustments |
|
|
As Recorded by
Nicolet |
|
| Cash, cash equivalents and securities available for sale |
|
$ |
262 |
|
|
$ |
1 |
|
|
$ |
263 |
|
| Loans |
|
|
710 |
|
|
|
(19 |
) |
|
|
691 |
|
| Other real estate owned |
|
|
3 |
|
|
|
(2 |
) |
|
|
1 |
|
| Core deposit intangible |
|
|
1 |
|
|
|
16 |
|
|
|
17 |
|
| Fixed assets and other assets |
|
|
71 |
|
|
|
(8 |
) |
|
|
63 |
|
| Total assets acquired |
|
$ |
1,047 |
|
|
$ |
(12 |
) |
|
$ |
1,035 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits |
|
$ |
822 |
|
|
$ |
- |
|
|
$ |
822 |
|
| Junior subordinated debentures, borrowings and other liabilities |
|
|
116 |
|
|
|
(1 |
) |
|
|
115 |
|
| Total liabilities acquired |
|
$ |
938 |
|
|
$ |
(1 |
) |
|
$ |
937 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Excess of assets acquired over liabilities acquired |
|
$ |
109 |
|
|
$ |
(11 |
) |
|
$ |
98 |
|
| Less: purchase price |
|
|
|
|
|
|
|
|
|
|
164 |
|
| Goodwill |
|
|
|
|
|
|
|
|
|
$ |
66 |
|
|
| Schedule of unaudited pro forma information |
| |
|
Year Ended |
|
| |
|
December 31, |
|
| |
|
2016 |
|
|
2015 |
|
| (in thousands, except per share data) |
|
|
|
|
|
|
| Total revenues, net of interest expense |
|
$ |
110,788 |
|
|
$ |
105,288 |
|
| Net income |
|
|
23,263 |
|
|
|
21,267 |
|
| Diluted earnings per share |
|
|
2.55 |
|
|
|
2.38 |
|
|