Content analysis
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H.S. sophomore Avg
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New words:
chain, charitable, crop, mailed, regular, supply
Removed:
authorized, discretion, executive, extension, impose, negotiated, notice, package, participating, privately, restriction, Rule, supplemental, suspended, trillion, unemployment
Financial report summary
?Risks
- The Merger consideration is fixed despite any changes in Nicolet’s or the Company’s stock prices and, because the market price of Nicolet common stock may fluctuate, Company shareholders cannot be certain of the market value of the Merger consideration they will receive.
- The Company’s shareholders may receive a form of consideration different from what they elect.
- The global coronavirus outbreak may delay or adversely affect the completion of the Merger and could harm the business and results of operations for each of Nicolet and the Company and the combined company following the completion of the Merger.
- Company shareholders will have limited ability to exercise influence over management of the combined organization.
Management Discussion
- Our operating revenue is comprised of interest income and non-interest income. Net interest income increased by 24.1% to $10.7 million for the three months ended September 30, 2021 compared to the three months ended September 30, 2020, primarily attributable to a 65 basis point decrease in rates paid on interest bearing deposits that contributed to the decrease in interest expense of $1.5 million. The decrease in cost of funds was coupled with a 23 basis point increase in total loan yield due to the fee income recognized at the time of PPP loan forgiveness. For the nine months ended September 30, 2021, net interest income was $32.4 million, an increase of $6.2 million, or 23.6%, from the nine months ended September 30, 2020.