Nicolet Bankshares (NIC) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Jul. 27, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-37700
Entity Registrant Name	NICOLET BANKSHARES, INC
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	47-0871001
Entity Address, Address Line One	111 North Washington Street
Entity Address, City or Town	Green Bay,
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54301
City Area Code	(920)
Local Phone Number	430-1400
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NCBS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		10,417,695
Entity Central Index Key	0001174850
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2020		Dec. 31, 2019
Assets
Cash and due from banks	$ 66,870,000		$ 75,433,000
Interest-earning deposits	755,814,000		106,626,000
Cash and cash equivalents	822,684,000	[1]	182,059,000
Certificates of deposit in other banks	17,809,000		19,305,000
Securities available for sale (“AFS”), at fair value	510,809,000		449,302,000
Other investments	26,375,000		24,072,000
Loans held for sale	21,832,000		2,706,000
Loans	2,821,501,000		2,573,751,000
Allowance for credit losses - loans (“ACL-Loans”)	(29,130,000)		(13,972,000)
Loans, net	2,792,371,000		2,559,779,000
Premises and equipment, net	59,896,000		56,469,000
Bank owned life insurance (“BOLI”)	78,953,000		78,140,000
Goodwill and other intangibles, net	164,094,000		165,967,000
Accrued interest receivable and other assets	46,405,000		39,461,000
Total assets	4,541,228,000		3,577,260,000
Liabilities:
Noninterest-bearing demand deposits	1,087,884,000		819,055,000
Interest-bearing deposits	2,449,921,000		2,135,398,000
Total deposits	3,537,805,000		2,954,453,000
Short-term borrowings	0		0
Long-term borrowings	417,826,000		67,629,000
Accrued interest payable and other liabilities	52,744,000		38,188,000
Total liabilities	4,008,375,000		3,060,270,000
Stockholders’ Equity:
Common stock	104,000		106,000
Additional paid-in capital	301,778,000		312,733,000
Retained earnings	216,863,000		199,005,000
Accumulated other comprehensive income (loss)	13,288,000		4,418,000
Total Nicolet Bankshares, Inc. stockholders’ equity	532,033,000		516,262,000
Noncontrolling interest	820,000		728,000
Total stockholders’ equity and noncontrolling interest	532,853,000		516,990,000
Total liabilities, noncontrolling interest and stockholders’ equity	$ 4,541,228,000		$ 3,577,260,000
Preferred shares authorized (no par value) (in shares)	10,000,000		10,000,000
Preferred shares issued and outstanding (in shares)	0		0
Common shares authorized (par value $0.01 per share) (in shares)	30,000,000		30,000,000
Common shares outstanding (in shares)	10,424,407		10,587,738
Common shares issued (in shares)	10,443,763		10,610,259
[1]	Cash and cash equivalents at June 30, 2020 include restricted cash of $1.9 million pledged as collateral on interest rate swaps and no reserve balance was required with the Federal Reserve Bank. At June 30, 2019, cash and cash equivalents include restricted cash of $950,000 pledged as collateral on interest rate swaps and $5.8 million for the reserve balance required with the Federal Reserve Bank.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Interest income:
Loans, including loan fees	$ 33,766	$ 31,209	$ 67,544	$ 61,177
Investment securities:
Taxable	2,042	2,041	4,114	3,674
Tax-exempt	509	522	1,000	1,071
Other interest income	575	798	1,237	1,807
Total interest income	36,892	34,570	73,895	67,729
Interest expense:
Deposits	4,455	4,730	9,412	9,507
Short-term borrowings	38	0	65	0
Long-term borrowings	902	896	1,658	1,803
Total interest expense	5,395	5,626	11,135	11,310
Net interest income	31,497	28,944	62,760	56,419
Provision for credit losses	3,000	300	6,000	500
Net interest income after provision for credit losses	28,497	28,644	56,760	55,919
Noninterest income:
Mortgage income, net	9,963	2,059	12,290	3,262
BOLI income	540	880	1,243	1,339
Asset gains (losses), net	(748)	7,572	(1,402)	7,744
Other income	1,487	1,624	2,008	3,108
Total noninterest income	17,471	18,560	27,056	27,746
Noninterest expense:
Personnel	14,482	15,358	27,805	27,895
Occupancy, equipment and office	4,361	3,757	8,565	7,507
Business development and marketing	2,514	1,579	3,873	2,860
Data processing	2,399	2,350	4,962	4,705
Intangibles amortization	880	969	1,873	2,022
Other expense	3,177	1,714	4,589	3,497
Total noninterest expense	27,813	25,727	51,667	48,486
Income before income tax expense	18,155	21,477	32,149	35,179
Income tax expense	4,576	2,833	7,897	6,185
Net income	13,579	18,644	24,252	28,994
Less: Net income attributable to noncontrolling interest	101	95	219	178
Net income attributable to Nicolet Bankshares, Inc.	$ 13,478	$ 18,549	$ 24,033	$ 28,816
Earnings per common share:
Basic (in dollars per share)	$ 1.29	$ 1.98	$ 2.30	$ 3.06
Diluted (in dollars per share)	$ 1.28	$ 1.91	$ 2.25	$ 2.97
Weighted average common shares outstanding:
Basic (in shares)	10,417,226	9,374,348	10,466,590	9,417,676
Diluted (in shares)	10,519,739	9,692,378	10,659,318	9,710,827
Trust services fee income
Noninterest income:
Fees and commissions	$ 1,510	$ 1,569	$ 3,089	$ 3,037
Brokerage fee income
Noninterest income:
Fees and commissions	2,269	2,002	4,591	3,812
Service charges on deposit accounts
Noninterest income:
Fees and commissions	813	1,194	2,038	2,364
Card interchange income
Noninterest income:
Fees and commissions	$ 1,637	$ 1,660	$ 3,199	$ 3,080

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 13,579	$ 18,644	$ 24,252	$ 28,994
Unrealized gains (losses) on securities AFS:
Net unrealized holding gains (losses)	7,985	4,401	12,314	12,112
Net realized (gains) losses included in income	(164)	(19)	(164)	(32)
Income tax (expense) benefit	(2,112)	(1,183)	(3,280)	(3,262)
Total other comprehensive income (loss)	5,709	3,199	8,870	8,818
Comprehensive income	$ 19,288	$ 21,843	$ 33,122	$ 37,812

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non- controlling Interest
Beginning Balance at Dec. 31, 2018	$ 387,352	$ 95	$ 247,790	$ 144,364	$ (5,640)	$ 743
Comprehensive income:
Net income	28,994			28,816		178
Other comprehensive income (loss)	8,818				8,818
Stock-based compensation expense	2,499		2,499
Exercise of stock options, net	3,182	2	3,180
Issuance of common stock	283		283
Purchase and retirement of common stock	(18,792)	(3)	(18,789)
Distribution to noncontrolling interest	(188)					(188)
Ending Balance at Jun. 30, 2019	412,148	94	234,963	173,180	3,178	733
Beginning Balance at Mar. 31, 2019	399,593	94	244,063	154,631	(21)	826
Comprehensive income:
Net income	18,644			18,549		95
Other comprehensive income (loss)	3,199				3,199
Stock-based compensation expense	1,391		1,391
Exercise of stock options, net	2,484	2	2,482
Issuance of common stock	135		135
Purchase and retirement of common stock	(13,110)	(2)	(13,108)
Distribution to noncontrolling interest	(188)					(188)
Ending Balance at Jun. 30, 2019	412,148	94	234,963	173,180	3,178	733
Beginning Balance at Dec. 31, 2019	516,990	106	312,733	199,005	4,418	728
Comprehensive income:
Net income	24,252			24,033		219
Other comprehensive income (loss)	8,870				8,870
Stock-based compensation expense	2,956		2,956
Exercise of stock options, net	954		954
Issuance of common stock	334		334
Purchase and retirement of common stock	(15,201)	(2)	(15,199)
Distribution to noncontrolling interest	(127)					(127)
Ending Balance at Jun. 30, 2020	532,853	104	301,778	216,863	13,288	820
Beginning Balance at Mar. 31, 2020	511,740	104	299,903	203,385	7,579	769
Comprehensive income:
Net income	13,579			13,478		101
Other comprehensive income (loss)	5,709				5,709
Stock-based compensation expense	1,657		1,657
Exercise of stock options, net	103		103
Issuance of common stock	119		119
Purchase and retirement of common stock	(4)		(4)
Distribution to noncontrolling interest	(50)					(50)
Ending Balance at Jun. 30, 2020	$ 532,853	$ 104	$ 301,778	$ 216,863	$ 13,288	$ 820

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019
Cash Flows From Operating Activities:
Net income		$ 24,252	$ 28,994
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and accretion		4,954	3,194
Provision for credit losses		6,000	500
Increase in cash surrender value of life insurance		(1,058)	(938)
Stock-based compensation expense		2,956	2,499
Asset (gains) losses, net		1,402	(7,744)
Gain on sale of loans held for sale, net		(12,217)	(3,246)
Proceeds from sale of loans held for sale		395,187	120,753
Origination of loans held for sale		(404,346)	(121,438)
Net change in:
Accrued interest receivable and other assets		(9,328)	(6,595)
Accrued interest payable and other liabilities		12,388	3,135
Net cash provided by (used in) operating activities		20,190	19,114
Cash Flows From Investing Activities:
Net (increase) decrease in loans		(245,750)	(34,459)
Net (increase) decrease in certificates of deposit in other banks		1,496	(4,403)
Purchases of securities AFS		(94,380)	(29,087)
Proceeds from sales of securities AFS		9,232	13,240
Proceeds from calls and maturities of securities AFS		40,017	23,055
Purchases of other investments		(3,738)	(1,373)
Proceeds from sales of other investments		0	17,144
Purchases of BOLI		0	(2,000)
Proceeds from redemption of BOLI		245	428
Net (increase) decrease in premises and equipment		(6,240)	(3,137)
Net (increase) decrease in other real estate and other assets		0	15
Net cash provided by (used in) investing activities		(299,118)	(20,577)
Cash Flows From Financing Activities:
Net increase (decrease) in deposits		583,612	(77,499)
Proceeds from long-term borrowings		367,841	0
Repayments of long-term borrowings		(17,860)	(129)
Purchase and retirement of common stock		(15,201)	(18,792)
Proceeds from issuance of common stock		334	283
Proceeds from exercise of stock options		954	3,182
Distribution to noncontrolling interest		(127)	(188)
Net cash provided by (used in) financing activities		919,553	(93,143)
Net increase (decrease) in cash and cash equivalents		640,625	(94,606)
Cash and cash equivalents:
Beginning		182,059	249,526
Ending	[1]	822,684	154,920
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest		12,874	11,091
Cash paid for taxes		0	6,340
Capitalized mortgage servicing rights		$ 2,250	$ 871
[1]	Cash and cash equivalents at June 30, 2020 include restricted cash of $1.9 million pledged as collateral on interest rate swaps and no reserve balance was required with the Federal Reserve Bank. At June 30, 2019, cash and cash equivalents include restricted cash of $950,000 pledged as collateral on interest rate swaps and $5.8 million for the reserve balance required with the Federal Reserve Bank.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement of Cash Flows [Abstract]
Restricted cash pledged as collateral on interest rate swaps	$ 1,900,000	$ 950,000
Restricted cash and cash equivalents	$ 0	$ 5,800,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation General In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the consolidated balance sheets, statements of income, comprehensive income, changes in stockholders’ equity and cash flows of Nicolet Bankshares, Inc. (the “Company” or “Nicolet”) and its subsidiaries, for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions and balances have been eliminated. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the entire year. These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been omitted or abbreviated. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Critical Accounting Policies and Estimates Preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, the allowance for credit losses, valuation of loans in acquisition transactions, useful lives for depreciation and amortization, fair value of financial instruments, other-than-temporary impairment calculations, valuation of deferred tax assets, uncertain income tax positions and contingencies. Estimates that are particularly susceptible to significant change for the Company include the determination of the allowance for credit losses, the determination and assessment of deferred tax assets and liabilities, and the valuation of loans acquired in acquisition transactions; therefore, these are critical accounting policies. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: external market factors such as market interest rates and employment rates, changes to operating policies and procedures, changes in applicable banking or tax regulations, and changes to deferred tax estimates. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period presented. There have been no material changes or developments with respect to the assumptions or methodologies that the Company uses when applying what management believes are critical accounting policies and developing critical accounting estimates as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, except as disclosed in Updates to Significant Accounting Policies and Recent Accounting Developments Adopted below. Updates to Significant Accounting Policies Securities Available for Sale : Securities classified as AFS are those securities that the Company intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as AFS would be based on various factors, including significant movements in interest rates, changes in the maturity mix of the Company’s assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. The Company evaluates securities AFS in unrealized loss positions on a quarterly basis to determine whether the decline in fair value below the amortized costs basis (impairment) is due to credit-related factors or noncredit-related factors. In making this evaluation, management considers the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. Any impairment that is not credit-related is recognized in other comprehensive income, net of related deferred income taxes. Credit-related impairment is recognized as an allowance for credit losses (“ACL”) on the balance sheet based on the amount by which the amortized cost basis exceeds the fair value, with a corresponding charge to net income. Both the ACL and the charge to net income may be reversed if conditions change. However, if the Company intends to sell an impaired AFS security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount must be recognized in net income with a corresponding adjustment to the security's amortized cost basis rather than through the establishment of an ACL. See Note 5 for additional disclosures on AFS securities. Loans – Originated : Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are carried at their amortized cost basis, which is the unpaid principal balance outstanding, net of deferred loan fees and costs and any direct principal charge-offs. The Company made an accounting policy election to exclude accrued interest from the amortized cost basis of loans and report such accrued interest as part of accrued interest receivable and other assets on the consolidated balance sheets. Interest income is accrued on the unpaid principal balance using the simple interest method. The accrual of interest income on loans is discontinued when, in the opinion of management, there is reasonable doubt as to the borrower’s ability to meet payment of interest or principal when due. Loans are generally placed on nonaccrual status when contractually past due 90 days or more as to interest or principal, though may be placed in such status earlier based on the circumstances. Loans past due 90 days or more may continue on accrual only when they are well secured and/or in process of collection or renewal. When interest accrual is discontinued, all previously accrued but uncollected interest is reversed against current period interest income. Except in very limited circumstances, cash collections on nonaccrual loans are credited to the loan receivable balance and no interest income is recognized on those loans until the principal balance is paid in full. Accrual of interest may be resumed when the customer is current on all principal and interest payments and has been paying on a timely basis for a sustained period of time. See Note 6 for additional information and disclosures on loans. Loans – Acquired : Loans purchased in acquisition transactions are acquired loans, and are recorded at their estimated fair value at the acquisition date. Prior to January 1, 2020, as described in further detail in the Company’s 2019 Annual Report on Form 10-K, the Company initially classified acquired loans as either purchased credit impaired (“PCI”) loans (i.e., loans that reflect credit deterioration since origination and it is probable at acquisition that the Company will be unable to collect all contractually required payments) or purchased non-impaired loans (i.e., “performing acquired loans”). The Company estimated the fair value of PCI loans based on the amount and timing of expected principal, interest and other cash flows for each loan. The excess of the loan’s contractual principal and interest payments over all cash flows expected to be collected at acquisition was considered an amount that should not be accreted. These credit discounts (“nonaccretable marks”) were included in the determination of the initial fair value for acquired loans; therefore, no allowance for credit losses was recorded at the acquisition date. Differences between the estimated fair values and expected cash flows of acquired loans at the acquisition date that were not credit-based (“accretable marks”) were subsequently accreted to interest income over the estimated life of the loans. Subsequent to the acquisition date for PCI loans, increases in cash flows over those expected at the acquisition date resulted in a move of the discount from nonaccretable to accretable, while decreases in expected cash flows after the acquisition date were recognized through the provision for credit losses. Subsequent to January 1, 2020, acquired loans that have evidence of more-than-insignificant deterioration in credit quality since origination are considered purchased credit deteriorated (“PCD”) loans. At acquisition, an estimate of expected credit losses is made for PCD loans. This initial allowance for credit losses is allocated to individual PCD loans and added to the purchase price or acquisition date fair value to establish the initial amortized cost basis of the PCD loans. Any difference between the unpaid principal balance of PCD loans and the amortized cost basis is considered to relate to noncredit factors, resulting in a discount or premium that is amortized to interest income. For acquired loans not deemed PCD loans at acquisition, the difference between the initial fair value mark and the unpaid principal balance are recognized in interest income over the estimated life of the loans. In addition, an initial allowance for expected credit losses is estimated and recorded as provision expense at the acquisition date. The subsequent measurement of expected credit losses for all acquired loans is the same as the subsequent measurement of expected credit losses for originated loans. See Note 6 for additional information and disclosures on loans. Allowance for Credit Losses - Loans : The ACL-Loans represents management’s estimate of expected credit losses in the Company’s loan portfolio at the balance sheet date. The Company estimates the ACL-Loans based on the amortized cost basis of the underlying loan and has made an accounting policy election to exclude accrued interest from the loan’s amortized cost basis and the related measurement of the ACL-Loans. Estimating the amount of the ACL-Loans is a function of a number of factors, including but not limited to changes in the loan portfolio, net charge-offs, trends in past due and nonaccrual loans, and the level of potential problem loans, all of which may be susceptible to significant change. Prior to January 1, 2020, as described in further detail in the Company’s 2019 Annual Report on Form 10-K, the Company used an incurred loss impairment model. This methodology assessed the overall appropriateness of the allowance for credit losses and included allocations for specifically identified impaired loans and loss factors for all remaining loans, with a component primarily based on historical loss rates and another component primarily based on other qualitative factors. Impaired loans were individually assessed and measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the fair value of the collateral if the loan was collateral dependent. Loans that were determined not to be impaired were collectively evaluated for impairment, stratified by type and allocated loss ranges based on the Company’s actual historical loss ratios for each strata, and adjustments were also provided for certain environmental and other qualitative factors. Subsequent to January 1, 2020, the Company uses a current expected credit loss model (“CECL”). This methodology also considers historical loss rates and other qualitative adjustments, as well as a new forward-looking component that considers reasonable and supportable forecasts over the expected life of each loan. To develop the ACL-Loans estimate under the CECL model, the Company segments the loan portfolio into loan pools based on loan type and similar credit risk elements; performs an individual evaluation of PCD loans; calculates the historical loss rates for the segmented loan pools; applies the loss rates over the calculated life of the pooled loans; adjusts for forecasted macro-level economic conditions; and determines qualitative adjustments based on factors and conditions unique to Nicolet's portfolio. Recent Accounting Developments Adopted In August 2018, the FASB issued Accounting Standards Update (“ASU”) 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . This ASU modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The updated guidance was effective for annual reporting periods, including interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the updated guidance effective January 1, 2020, with no material impact on its consolidated financial statements as the new ASU only revises disclosure requirements. See Note 9 for fair value disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments intended to improve the financial reporting by requiring earlier recognition of credit losses on loans and certain other financial assets. Topic 326 replaces the incurred loss impairment model (which recognizes losses when a probable threshold is met) with a requirement to recognize lifetime expected credit losses immediately when a financial asset is originated or purchased. The measurement of lifetime expected credit losses is based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU was effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new accounting standard on January 1, 2020, as required, and recorded a cumulative-effect adjustment of $6 million to retained earnings. See Updates to Significant Accounting Policies above for changes to accounting policies and see Notes 5 and 6 for additional disclosures related to this new accounting pronouncement. Reclassifications Certain amounts in the 2019 consolidated financial statements have been reclassified to conform to the 2020 presentation.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions Completed Acquisition: Choice Bancorp, Inc. (“Choice”): On November 8, 2019, the Company consummated its merger with Choice, pursuant to the terms of the Agreement and Plan of Merger dated June 26, 2019, (the “Choice Merger Agreement”), whereby Choice (at 12% of Nicolet’s then pre-merger asset size) was merged with and into Nicolet, and Choice Bank, the wholly owned bank subsidiary of Choice, was merged with and into the Bank. The system integration was completed, and the two branches of Choice opened on November 12, 2019, as Nicolet National Bank branches, expanding its presence in the Oshkosh marketplace. The Company closed its legacy Oshkosh location concurrently with the consummation of the Choice merger. The purpose of the merger was to continue Nicolet’s interest in strategic growth, consistent with its plan to improve profitability through efficiency, leverage the strengths of each bank across the combined customer base, and add shareholder value. With the merger, Nicolet became the leading community bank to serve the Oshkosh marketplace. Pursuant to the Choice Merger Agreement, the final purchase price consisted of issuing 1,184,102 shares of the Company's common stock (given the final stock-for-stock exchange ratio of 0.497, and not exchanging the Choice shares owned by the Company immediately prior to the time of the merger), for common stock consideration of $79.8 million (based on $67.39 per share, the volume weighted average closing price of the Company's common stock over the preceding 30 trading day period) plus cash consideration of $1.7 million. Approximately $0.2 million in direct stock issuance costs for the merger were incurred and charged against additional paid-in capital. Upon consummation, the Company added $457 million in assets, including $348 million in loans, $289 million in deposits, $1.7 million in core deposit intangible, and $45 million of goodwill. The Company accounted for the transaction under the acquisition method of accounting, and thus, the financial position and results of operations of Choice prior to the consummation date were not included in the accompanying consolidated financial statements. The accounting required assets purchased and liabilities assumed to be recorded at their respective estimated fair values at the date of acquisition. Pending Acquisition: Advantage Community Bancshares, Inc. (“Advantage”): On March 2, 2020, Nicolet entered into a definitive merger agreement with Advantage pursuant to which Advantage will merge with and into Nicolet. As of June 30, 2020, Nicolet has received all necessary regulatory approvals, as well as approval from Advantage shareholders. The merger is expected to close August 21, 2020, subject to the closing conditions. Advantage's four branches in Dorcester, Edgar, Mosinee, and Wausau will open as Nicolet branches on August 24, 2020. Due to the small size of the transaction, terms of the all-cash deal were not disclosed. At June 30, 2020, Advantage had total assets of $160 million, loans of $89 million, deposits of $135 million, and equity of $21 million. Terminated Acquisition:

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share Basic earnings per common share are calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are calculated by dividing net income available to common shareholders by the weighted average number of shares adjusted for the dilutive effect of common stock awards (outstanding stock options and unvested restricted stock), if any. Presented below are the calculations for basic and diluted earnings per common share. Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share data) 2020 2019 2020 2019 Net income attributable to Nicolet Bankshares, Inc. $ 13,478 $ 18,549 $ 24,033 $ 28,816 Weighted average common shares outstanding 10,417 9,374 10,467 9,418 Effect of dilutive common stock awards 103 318 192 293 Diluted weighted average common shares outstanding 10,520 9,692 10,659 9,711 Basic earnings per common share* $ 1.29 $ 1.98 $ 2.30 $ 3.06 Diluted earnings per common share* $ 1.28 $ 1.91 $ 2.25 $ 2.97 *Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year to date earnings per share data.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company may grant stock options and restricted stock under its stock-based compensation plans to certain officers, employees and directors. These plans are administered by a committee of the Board of Directors, and at June 30, 2020, approximately 1.4 million shares were available for grant under these stock-based compensation plans. A Black-Scholes model is utilized to estimate the fair value of stock option grants, while the market price of the Company’s stock at the date of grant is used to estimate the fair value of restricted stock awards. The weighted average assumptions used in the Black-Scholes model for valuing stock option grants were as follows. Six Months Ended June 30, 2020 2019 Dividend yield — % — % Expected volatility 25 % 25 % Risk-free interest rate 1.67 % 2.37 % Expected average life 7 years 7 years Weighted average per share fair value of options $ 21.83 $ 19.23 A summary of the Company’s stock option activity is summarized below. Stock Options Option Shares Weighted Weighted Average Aggregate Outstanding - December 31, 2019 1,443,733 $ 48.75 Granted 39,500 71.89 Exercise of stock options * (43,552) 23.07 Forfeited — — Outstanding - June 30, 2020 1,439,681 $ 50.16 7.1 $ 10,601 Exercisable - June 30, 2020 726,931 $ 44.59 6.4 $ 7,527 * The terms of the stock option agreements permit having a number of shares of stock withheld, the fair market value of which as of the date of exercise is sufficient to satisfy the exercise price and/or tax withholding requirements. For the six months ended June 30, 2020, 17,699 such shares were surrendered to the Company. Intrinsic value represents the amount by which the fair market value of the underlying stock exceeds the exercise price of the stock options. The intrinsic value of options exercised for the six months ended June 30, 2020 and 2019 was approximately $1.9 million and $5.0 million, respectively. A summary of the Company’s restricted stock activity is summarized below. Restricted Stock Weighted Average Grant Restricted Shares Outstanding - December 31, 2019 $ 44.94 22,521 Granted 55.52 10,450 Vested * 43.66 (13,615) Forfeited — — Outstanding - June 30, 2020 $ 51.55 19,356 * The terms of the restricted stock agreements permit the surrender of shares to the Company upon vesting in order to satisfy applicable tax withholding requirements at the minimum statutory withholding rate, and accordingly, 1,407 shares were surrendered during the six months ended June 30, 2020. The Company recognized approximately $2.6 million and $2.2 million of stock-based compensation expense (included in personnel on the consolidated statements of income) for the six months ended June 30, 2020 and 2019, respectively, associated with its common stock awards granted to officers and employees. In addition, during first half 2020, the Company recognized approximately $0.4 million of director expense (included in other expense on the consolidated statements of income) for a total restricted stock grant of 7,950 shares with immediate vesting to directors, while during first half 2019, the Company recognized approximately $0.3 million of director expense for a total restricted stock grant of 4,257 shares with immediate vesting to directors, representing the annual stock retainer fee paid to external board members. As of June 30, 2020, there was approximately $11.6 million of unrecognized compensation cost related to equity award grants. The cost is expected to be recognized over the remaining vesting period of approximately three years. The Company recognized a tax benefit of approximately $0.3 million and $0.9 million for the six months ended June 30, 2020 and 2019, respectively, for the tax impact of stock option exercises and vesting of restricted stock.

Securities Available for Sale

Securities Available for Sale	6 Months Ended
	Jun. 30, 2020
Debt Securities, Available-for-sale [Abstract]
Securities Available for Sale	Securities Available for Sale Amortized cost and fair value of securities available for sale are summarized as follows. June 30, 2020 (in thousands) Amortized Cost Gross Gross Fair Value Fair Value as % of Total U.S. government agency securities $ 63,512 $ 338 $ — $ 63,850 12 % State, county and municipals 162,239 4,261 2 166,498 33 % Mortgage-backed securities 188,819 8,087 10 196,896 39 % Corporate debt securities 78,036 5,529 — 83,565 16 % Total $ 492,606 $ 18,215 $ 12 $ 510,809 100 % December 31, 2019 (in thousands) Amortized Cost Gross Gross Fair Value Fair Value as % of Total U.S. government agency securities $ 16,516 $ 4 $ 60 $ 16,460 4 % State, county and municipals 155,501 1,049 157 156,393 35 % Mortgage-backed securities 193,223 2,492 697 195,018 43 % Corporate debt securities 78,009 3,422 — 81,431 18 % Total $ 443,249 $ 6,967 $ 914 $ 449,302 100 % All mortgage-backed securities included in the table above were issued by U.S. government agencies and corporations. Securities AFS with a fair value of $156 million and $166 million as of June 30, 2020 and December 31, 2019, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. Accrued interest on securities AFS totaled $2.1 million and $2.2 million at June 30, 2020 and December 31, 2019, respectively, and is included in accrued interest receivable and other assets on the consolidated balance sheets. The following table presents gross unrealized losses and the related estimated fair value of securities AFS for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position. June 30, 2020 Less than 12 months 12 months or more Total ($ in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Number of State, county and municipals $ 882 $ 2 $ — $ — $ 882 $ 2 2 Mortgage-backed securities 1,329 1 762 9 2,091 10 23 Total $ 2,211 $ 3 $ 762 $ 9 $ 2,973 $ 12 25 December 31, 2019 Less than 12 months 12 months or more Total ($ in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Number of U.S. government agency securities $ 1,035 $ 2 $ 11,091 $ 58 $ 12,126 $ 60 6 State, county and municipals 22,451 132 7,605 25 30,056 157 56 Mortgage-backed securities 49,626 245 47,271 452 96,897 697 150 Total $ 73,112 $ 379 $ 65,967 $ 535 $ 139,079 $ 914 212 The Company evaluates securities AFS in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. In making this evaluation, management considers the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. As of June 30, 2020, no allowance for credit losses on securities AFS was recognized. The Company does not consider its securities AFS with unrealized losses to be attributable to credit-related factors, as the unrealized losses in each category have occurred as a result of changes in noncredit-related factors such as changes in interest rates, market spreads and market conditions subsequent to purchase, not credit deterioration. Furthermore, the Company does not have the intent to sell any of these securities AFS and believes that it is more likely than not that we will not have to sell any such securities before a recovery of cost. During 2019, there were no other-than-temporary impairments charged to earnings. The amortized cost and fair value of securities AFS by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties; as this is particularly inherent in mortgage-backed securities, these securities are not included in the maturity categories below. June 30, 2020 (in thousands) Amortized Cost Fair Value Due in less than one year $ 28,148 $ 28,294 Due in one year through five years 217,289 224,722 Due after five years through ten years 42,898 44,561 Due after ten years 15,452 16,336 303,787 313,913 Mortgage-backed securities 188,819 196,896 Securities AFS $ 492,606 $ 510,809 Proceeds and realized gains / losses from the sale of securities AFS were as follows. Six Months Ended June 30, (in thousands) 2020 2019 Gross gains $ 164 $ 152 Gross losses — (120) Gains (losses) on sales of securities AFS, net $ 164 $ 32 Proceeds from sales of securities AFS $ 9,232 $ 13,240

Loans, Allowance for Credit Los

Loans, Allowance for Credit Losses - Loans, and Credit Quality	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Loans, Allowance for Credit Losses - Loans, and Credit Quality	Loans, Allowance for Credit Losses - Loans, and Credit Quality The loan composition is summarized as follows. June 30, 2020 December 31, 2019 (in thousands) Amount % of Amount % of Commercial & industrial $ 729,264 26 % $ 806,189 31 % Paycheck Protection Program (“PPP”) loans 329,157 12 — — Owner-occupied commercial real estate (“CRE”) 495,722 17 496,372 19 Agricultural 99,020 3 95,450 4 CRE investment 447,900 16 443,218 17 Construction & land development 107,277 4 92,970 4 Residential construction 51,332 2 54,403 2 Residential first mortgage 417,694 15 432,167 17 Residential junior mortgage 114,323 4 122,771 5 Retail & other 29,812 1 30,211 1 Loans 2,821,501 100 % 2,573,751 100 % Less allowance for credit losses - Loans (“ACL-Loans”) 29,130 13,972 Loans, net $ 2,792,371 $ 2,559,779 Allowance for credit losses - Loans to loans 1.03 % 0.54 % Accrued interest on loans totaled $9 million and $7 million at June 30, 2020 and December 31, 2019, respectively, and is included in accrued interest receivable and other assets on the consolidated balance sheets. See Note 1 for for the Company's accounting policy on accrued interest with respect to loans and the allowance for credit losses. Allowance for Credit Losses-Loans : The majority of the Company’s loans, commitments, and letters of credit have been granted to customers in the Company’s market area. Although the Company has a diversified loan portfolio, the credit risk in the loan portfolio is largely influenced by general economic conditions and trends of the counties and markets in which the debtors operate, and the resulting impact on the operations of borrowers or on the value of underlying collateral, if any. A roll forward of the allowance for credit losses is summarized as follows. Six Months Ended Year Ended (in thousands) June 30, 2020 June 30, 2019 December 31, 2019 Beginning balance $ 13,972 $ 13,153 $ 13,153 Adoption of CECL 8,488 — — Initial PCD ACL 797 — — Total impact for adoption of CECL 9,285 — — Provision for credit losses 6,000 500 1,200 Charge-offs (216) (232) (927) Recoveries 89 150 546 Net (charge-offs) recoveries (127) (82) (381) Ending balance $ 29,130 $ 13,571 $ 13,972 The following table presents the balance and activity in the ACL-Loans by portfolio segment. Six Months Ended June 30, 2020 (in thousands) Commercial Owner- Agricultural CRE Construction & land Residential Residential Residential Retail Total ACL-Loans * Beginning balance $ 5,471 $ 3,010 $ 579 $ 1,600 $ 414 $ 368 $ 1,669 $ 517 $ 344 $ 13,972 Adoption of CECL 2,962 1,249 361 1,970 51 124 1,286 351 134 8,488 Initial PCD ACL 797 — — — — — — — — 797 Provision 1,010 919 399 1,542 325 21 1,348 294 142 6,000 Charge-offs (97) — — (20) — — — — (99) (216) Recoveries 60 — — — — — 4 15 10 89 Net (charge-offs) recoveries (37) — — (20) — — 4 15 (89) (127) Ending balance $ 10,203 $ 5,178 $ 1,339 $ 5,092 $ 790 $ 513 $ 4,307 $ 1,177 $ 531 $ 29,130 As % of ACL-Loans 35 % 18 % 4 % 17 % 3 % 2 % 15 % 4 % 2 % 100 % *The PPP loans are fully guaranteed by the SBA; thus, no ACL-Loans has been allocated to these loans. For comparison purposes, the following table presents the balance and activity in the ACL-Loans by portfolio segment for the prior year-end period. Year Ended December 31, 2019 (in thousands) Commercial Owner- Agricultural CRE Construction Residential Residential Residential Retail & ACL-Loans Beginning balance $ 5,271 $ 2,847 $ 422 $ 1,470 $ 510 $ 211 $ 1,646 $ 472 $ 304 $ 13,153 Provision (61) 254 157 130 (96) 383 9 86 338 1,200 Charge-offs (159) (93) — — — (226) (22) (80) (347) (927) Recoveries 420 2 — — — — 36 39 49 546 Net (charge-offs) recoveries 261 (91) — — — (226) 14 (41) (298) (381) Ending balance $ 5,471 $ 3,010 $ 579 $ 1,600 $ 414 $ 368 $ 1,669 $ 517 $ 344 $ 13,972 As % of ACL-Loans 39 % 22 % 4 % 11 % 3 % 3 % 12 % 4 % 2 % 100 % The ACL-Loans at June 30, 2020 was estimated using the current expected credit loss model. See Note 1 for the Company's accounting policy on loans and the allowance for credit losses. The ACL-Loans represents management’s estimate of expected credit losses in the Company’s loan portfolio at the balance sheet date. To assess the appropriateness of the ACL-Loans, an allocation methodology is applied by Nicolet which focuses on evaluation of qualitative and environmental factors, including but not limited to: (i) evaluation of facts and issues related to specific loans; (ii) management’s ongoing review and grading of the loan portfolio; (iii) consideration of historical loan loss and delinquency experience on each portfolio segment; (iv) trends in past due and nonperforming loans; (v) the risk characteristics of the various loan segments; (vi) changes in the size and character of the loan portfolio; (vii) concentrations of loans to specific borrowers or industries; (viii) existing economic conditions; (ix) the fair value of underlying collateral; and (x) other qualitative and quantitative factors which could affect expected credit losses. Assessing these numerous factors involves significant judgment. Management allocates the ACL-Loans by pools of risk within each loan portfolio segment. The allocation methodology consists of the following components. First, a specific reserve is established for individually evaluated credit-deteriorated loans, which management defines as nonaccrual credit relationships over $250,000, all loans determined to be troubled debt restructurings (“restructured loans”), plus other loans with evidence of credit deterioration. The specific reserve in the ACL-Loans for these credit deteriorated loans is equal to the aggregate collateral or discounted cash flow shortfall. Second, management allocates the ACL-Loans with historical loss rates by loan segment. The loss factors are measured on a quarterly basis and applied to each loan segment based on current loan balances and projected for their expected remaining life. Next, management allocates the ACL-Loans using the qualitative factors mentioned above. Consideration is given to those current qualitative or environmental factors that are likely to cause estimated credit losses as of the evaluation date to differ from the historical loss experience of each loan segment. Lastly, management considers reasonable and supportable forecasts to assess the collectability of future cash flows. A loan is considered to be collateral dependent when, based upon management's assessment, the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. For collateral dependent loans, expected credit losses are based on the fair value of the collateral at the balance sheet date, with consideration for estimated selling costs if satisfaction of the loan depends on the sale of the collateral. The following table presents collateral dependent loans by portfolio segment and collateral type, including those loans with and without a related allowance allocation as of June 30, 2020. June 30, 2020 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 3,688 $ 3,688 $ — $ 3,688 $ 1,231 PPP loans — — — — — — Owner-occupied CRE 2,524 — 2,524 339 2,185 148 Agricultural 600 835 1,435 1,435 — — CRE investment 975 — 975 975 — — Construction & land development 533 — 533 533 — — Residential construction — — — — — — Residential first mortgage — — — — — — Residential junior mortgage — — — — — — Retail & other — — — — — — Total loans $ 4,632 $ 4,523 $ 9,155 $ 3,282 $ 5,873 $ 1,379 The following table presents impaired loans and their respective allowance for credit loss allocations at December 31, 2019, as determined in accordance with historical accounting guidance. Total Impaired Loans – December 31, 2019 (in thousands) Recorded Unpaid Principal Related Average Recorded Interest Income Commercial & industrial $ 5,932 $ 7,950 $ 625 $ 5,405 $ 1,170 Owner-occupied CRE 3,430 4,016 — 3,677 256 Agricultural 2,134 2,172 116 2,311 37 CRE investment 2,426 2,790 — 2,497 364 Construction & land development 382 382 — 460 — Residential construction — — — — — Residential first mortgage 2,357 2,629 — 2,412 178 Residential junior mortgage 218 349 — 224 58 Retail & other 12 12 — 12 — Total $ 16,891 $ 20,300 $ 741 $ 16,998 $ 2,063 Past Due and Nonaccrual Loans : The following tables present past due loans by portfolio segment. June 30, 2020 (in thousands) 30-89 Days Past 90 Days & Over or nonaccrual Current Total Commercial & industrial $ 162 $ 4,142 $ 724,960 $ 729,264 PPP loans — — 329,157 329,157 Owner-occupied CRE 71 3,005 492,646 495,722 Agricultural 35 1,711 97,274 99,020 CRE investment — 975 446,925 447,900 Construction & land development 196 533 106,548 107,277 Residential construction 549 — 50,783 51,332 Residential first mortgage 354 1,067 416,273 417,694 Residential junior mortgage — 565 113,758 114,323 Retail & other 85 — 29,727 29,812 Total loans $ 1,452 $ 11,998 $ 2,808,051 $ 2,821,501 Percent of total loans 0.1 % 0.4 % 99.5 % 100.0 % December 31, 2019 (in thousands) 30-89 Days Past 90 Days & Over or nonaccrual Current Total Commercial & industrial $ 1,729 $ 6,249 $ 798,211 $ 806,189 Owner-occupied CRE 112 3,311 492,949 496,372 Agricultural — 1,898 93,552 95,450 CRE investment — 1,073 442,145 443,218 Construction & land development 2,063 20 90,887 92,970 Residential construction 302 — 54,101 54,403 Residential first mortgage 2,736 1,090 428,341 432,167 Residential junior mortgage 217 480 122,074 122,771 Retail & other 110 1 30,100 30,211 Total loans $ 7,269 $ 14,122 $ 2,552,360 $ 2,573,751 Percent of total loans 0.3 % 0.5 % 99.2 % 100.0 % The following table presents nonaccrual loans by portfolio segment. The nonaccrual loans without a related allowance for credit losses have been reflected in the collateral dependent loans table above. June 30, 2020 December 31, 2019 (in thousands) Nonaccrual Loans % of Total Nonaccrual Loans % of Total Commercial & industrial $ 4,142 35 % $ 6,249 44 % PPP loans — — — — Owner-occupied CRE 3,005 25 3,311 23 Agricultural 1,711 14 1,898 14 CRE investment 975 8 1,073 8 Construction & land development 533 4 20 — Residential construction — — — — Residential first mortgage 1,067 9 1,090 8 Residential junior mortgage 565 5 480 3 Retail & other — — 1 — Nonaccrual loans $ 11,998 100 % $ 14,122 100 % Percent of total loans 0.4 % 0.5 % Credit Quality Information : The following table presents total loans by risk categories and year of origination. June 30, 2020 Amortized Cost Basis by Origination Year (in thousands) 2020 2019 2018 2017 2016 Prior Revolving Revolving to Term TOTAL Commercial & industrial (a) Grades 1-4 $ 397,577 $ 150,186 $ 109,524 $ 68,689 $ 28,748 $ 58,379 $ 183,671 $ — $ 996,774 Grade 5 229 5,398 7,778 625 1,524 2,777 16,707 — 35,038 Grade 6 51 23 796 5,698 1 35 4,136 — 10,740 Grade 7 1,732 1,215 1,112 1,382 545 6,057 3,826 — 15,869 Total $ 399,589 $ 156,822 $ 119,210 $ 76,394 $ 30,818 $ 67,248 $ 208,340 $ — $ 1,058,421 Owner-occupied CRE Grades 1-4 $ 36,065 $ 67,425 $ 82,360 $ 62,980 $ 49,060 $ 164,982 $ 1,499 $ — $ 464,371 Grade 5 — 574 1,646 6,572 379 7,086 488 — 16,745 Grade 6 — — — 1,736 — 734 — — 2,470 Grade 7 — 337 281 2,189 1,776 7,553 — — 12,136 Total $ 36,065 $ 68,336 $ 84,287 $ 73,477 $ 51,215 $ 180,355 $ 1,987 $ — $ 495,722 Agricultural Grades 1-4 $ 8,766 $ 5,484 $ 7,266 $ 9,697 $ 2,240 $ 29,722 $ 20,775 $ — $ 83,950 Grade 5 20 375 36 573 689 4,772 633 — 7,098 Grade 6 — — — 328 392 — — — 720 Grade 7 — — 34 115 1,200 5,824 79 — 7,252 Total $ 8,786 $ 5,859 $ 7,336 $ 10,713 $ 4,521 $ 40,318 $ 21,487 $ — $ 99,020 CRE investment Grades 1-4 $ 42,819 $ 76,688 $ 41,581 $ 69,179 $ 39,866 $ 158,663 $ 6,303 $ — $ 435,099 Grade 5 — — 106 1,307 388 6,396 45 — 8,242 Grade 6 — 104 — 913 654 — — — 1,671 Grade 7 — — — — 144 2,744 — — 2,888 Total $ 42,819 $ 76,792 $ 41,687 $ 71,399 $ 41,052 $ 167,803 $ 6,348 $ — $ 447,900 Construction & land development Grades 1-4 $ 25,720 $ 40,447 $ 19,330 $ 3,442 $ 2,261 $ 9,282 $ 1,799 $ — $ 102,281 Grade 5 — 219 2,699 45 — 26 — — 2,989 Grade 6 — 1,100 — — — — — — 1,100 Grade 7 — — — — — 907 — — 907 Total $ 25,720 $ 41,766 $ 22,029 $ 3,487 $ 2,261 $ 10,215 $ 1,799 $ — $ 107,277 Residential construction Grades 1-4 $ 14,455 $ 34,545 $ 1,459 $ 351 $ 19 $ 133 $ — $ — $ 50,962 Grade 5 — 314 — 56 — — — — 370 Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 14,455 $ 34,859 $ 1,459 $ 407 $ 19 $ 133 $ — $ — $ 51,332 Residential first mortgage Grades 1-4 $ 54,206 $ 71,663 $ 49,497 $ 53,126 $ 52,588 $ 128,667 $ 919 $ — $ 410,666 Grade 5 — 825 1,331 258 760 1,689 — — 4,863 Grade 6 — — — — — — — — — Grade 7 — 656 197 19 65 1,228 — — 2,165 Total $ 54,206 $ 73,144 $ 51,025 $ 53,403 $ 53,413 $ 131,584 $ 919 $ — $ 417,694 Residential junior mortgage Grades 1-4 $ 2,470 $ 5,261 $ 4,799 $ 1,642 $ 1,753 $ 3,203 $ 92,924 $ 1,669 $ 113,721 Grade 5 — — — — — 33 — — 33 Grade 6 — — — — — — — — — Grade 7 — — — 28 — 339 202 — 569 Total $ 2,470 $ 5,261 $ 4,799 $ 1,670 $ 1,753 $ 3,575 $ 93,126 $ 1,669 $ 114,323 Retail & other Grades 1-4 $ 5,090 $ 6,205 $ 2,403 $ 1,869 $ 941 $ 1,522 $ 11,782 $ — $ 29,812 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 5,090 $ 6,205 $ 2,403 $ 1,869 $ 941 $ 1,522 $ 11,782 $ — $ 29,812 Total loans $ 589,200 $ 469,044 $ 334,235 $ 292,819 $ 185,993 $ 602,753 $ 345,788 $ 1,669 $ 2,821,501 (a) For purposes of this table, the $329 million net carrying value of PPP loans were originated in 2020, have a Pass risk grade (Grades 1-4) and have been included with the Commercial & industrial loan category. The following tables present total loans by risk categories. June 30, 2020 (in thousands) Grades 1- 4 Grade 5 Grade 6 Grade 7 Total Commercial & industrial $ 667,617 $ 35,038 $ 10,740 $ 15,869 $ 729,264 PPP loans 329,157 — — — 329,157 Owner-occupied CRE 464,371 16,745 2,470 12,136 495,722 Agricultural 83,950 7,098 720 7,252 99,020 CRE investment 435,099 8,242 1,671 2,888 447,900 Construction & land development 102,281 2,989 1,100 907 107,277 Residential construction 50,962 370 — — 51,332 Residential first mortgage 410,666 4,863 — 2,165 417,694 Residential junior mortgage 113,721 33 — 569 114,323 Retail & other 29,812 — — — 29,812 Total loans $ 2,687,636 $ 75,378 $ 16,701 $ 41,786 $ 2,821,501 Percent of total 95.2 % 2.7 % 0.6 % 1.5 % 100.0 % December 31, 2019 (in thousands) Grades 1- 4 Grade 5 Grade 6 Grade 7 Total Commercial & industrial $ 765,073 $ 20,199 $ 7,663 $ 13,254 $ 806,189 Owner-occupied CRE 464,661 20,855 953 9,903 496,372 Agricultural 77,082 6,785 3,275 8,308 95,450 CRE investment 430,794 8,085 2,578 1,761 443,218 Construction & land development 90,523 2,213 15 219 92,970 Residential construction 53,286 1,117 — — 54,403 Residential first mortgage 424,044 4,677 668 2,778 432,167 Residential junior mortgage 122,249 35 — 487 122,771 Retail & other 30,210 — — 1 30,211 Total loans $ 2,457,922 $ 63,966 $ 15,152 $ 36,711 $ 2,573,751 Percent of total 95.5 % 2.5 % 0.6 % 1.4 % 100.0 % An internal loan review function rates loans using a grading system based on different risk categories. Loans with a Substandard grade are considered to have a greater risk of loss and may be assigned allocations for loss based on specific review of the weaknesses observed in the individual credits. Such loans are constantly monitored by the loan review function to ensure early identification of any deterioration. A description of the loan risk categories used by the Company follows. Grades 1-4, Pass: Credits exhibit adequate cash flows, appropriate management and financial ratios within industry norms and/or are supported by sufficient collateral. Some credits in these rating categories may require a need for monitoring but elements of concern are not severe enough to warrant an elevated rating. Grade 5, Watch: Credits with this rating are adequately secured and performing but are being monitored due to the presence of various short-term weaknesses which may include unexpected, short-term adverse financial performance, managerial problems, potential impact of a decline in the entire industry or local economy and delinquency issues. Loans to individuals or loans supported by guarantors with marginal net worth or collateral may be included in this rating category. Grade 6, Special Mention: Credits with this rating have potential weaknesses that, without the Company’s attention and correction may result in deterioration of repayment prospects. These assets are considered Criticized Assets. Potential weaknesses may include adverse financial trends for the borrower or industry, repeated lack of compliance with Company requests, increasing debt to net worth, serious management conditions and decreasing cash flow. Grade 7, Substandard: Assets with this rating are characterized by the distinct possibility the Company will sustain some loss if deficiencies are not corrected. All foreclosures, liquidations, and nonaccrual loans are considered to be categorized in this rating, regardless of collateral sufficiency. Troubled Debt Restructurings : At June 30, 2020, there were five loans classified as troubled debt restructurings with a current outstanding balance of $1.1 million and pre-modification balance of $1.7 million. In comparison, at December 31, 2019, there were five loans classified as troubled debt restructurings with an outstanding balance of $1.1 million and pre-modification balance of $1.4 million. There were no loans classified as troubled debt restructurings during the previous twelve months that

Goodwill and Other Intangibles

Goodwill and Other Intangibles and Mortgage Servicing Rights	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles and Mortgage Servicing Rights	Goodwill and Other Intangibles and Mortgage Servicing Rights Management periodically reviews the carrying value of its intangible assets to determine if any impairment has occurred, in which case an impairment charge would be recorded as an expense in the period of impairment, or whether changes in circumstances have occurred that would require a revision to the remaining useful life which would impact expense prospectively. In making such determination, management evaluates whether there are any adverse qualitative factors indicating that an impairment may exist, as well as the performance, on an undiscounted basis, of the underlying operations or assets which give rise to the intangible. In the first half of 2020, management considered the potential impacts of the COVID-19 pandemic on the valuation of our franchise value, stability of deposits, and of the wealth client base, underlying our goodwill, core deposit intangible, and customer list intangibles, and determined no impairments were indicated. However, the impacts of the COVID-19 pandemic, which began in March 2020, continue to evolve. The Company’s assessment in 2019 resulted in an $0.8 million full impairment charge on non-bank goodwill related to a change in business strategy. A summary of goodwill and other intangibles was as follows. Six Months Ended Year Ended (in thousands) June 30, 2020 December 31, 2019 Goodwill $ 151,198 $ 151,198 Core deposit intangibles 9,278 10,897 Customer list intangibles 3,618 3,872 Other intangibles 12,896 14,769 Goodwill and other intangibles, net $ 164,094 $ 165,967 Goodwill : A summary of goodwill was as follows. During 2019, goodwill increased due to the Choice acquisition. See Note 2 for additional information on the Company's acquisitions. Six Months Ended Year Ended (in thousands) June 30, 2020 December 31, 2019 Goodwill: Goodwill at beginning of year $ 151,198 $ 107,366 Acquisition — 44,594 Impairment — (762) Goodwill at end of period $ 151,198 $ 151,198 Other intangible assets : Other intangible assets, consisting of core deposit intangibles and customer list intangibles, are amortized over their estimated finite lives. During 2019, core deposit intangibles increased due to the Choice acquisition. See Note 2 for additional information on the Company's acquisitions. Six Months Ended Year Ended (in thousands) June 30, 2020 December 31, 2019 Core deposit intangibles: Gross carrying amount $ 30,715 $ 30,715 Accumulated amortization (21,437) (19,818) Net book value $ 9,278 $ 10,897 Additions during the period $ — $ 1,700 Amortization during the period $ 1,619 $ 3,365 Customer list intangibles: Gross carrying amount $ 5,523 $ 5,523 Accumulated amortization (1,905) (1,651) Net book value $ 3,618 $ 3,872 Additions during the period $ — $ — Amortization during the period $ 254 $ 507 Mortgage servicing rights : Mortgage servicing rights are amortized in proportion to and over the period of estimated net servicing income, and assessed for impairment at each reporting date, with the amortization recorded in mortgage income, net, in the consolidated statements of income. Mortgage servicing rights are carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value, and are included in other assets in the consolidated balance sheets. A summary of the changes in the mortgage servicing rights asset was as follows. Six Months Ended Year Ended (in thousands) June 30, 2020 December 31, 2019 Mortgage servicing rights ("MSR") asset: MSR asset at beginning of year $ 5,919 $ 3,749 Capitalized MSR 2,250 2,876 MSR asset acquired — 160 Amortization during the period (604) (866) MSR asset at end of period $ 7,565 $ 5,919 Valuation allowance at beginning of year $ — $ — Additions (400) — Valuation allowance at end of period $ (400) $ — MSR asset, net $ 7,165 $ 5,919 Fair value of MSR asset at end of period $ 8,979 $ 8,420 Residential mortgage loans serviced for others $ 1,010,118 $ 847,756 Net book value of MSR asset to loans serviced for others 0.71 % 0.70 % The Company periodically evaluates its mortgage servicing rights asset for impairment. At each reporting date, impairment is assessed based on estimated fair value using estimated prepayment speeds of the underlying mortgage loans serviced and stratifications based on the risk characteristics of the underlying loans (predominantly loan type and note interest rate). A valuation allowance of $0.4 million was recorded for the six months ended June 30, 2020, while no valuation allowance was recorded for the year ended December 31, 2019. See Note 9 for additional information on the fair value of the MSR asset. The following table shows the estimated future amortization expense for amortizing intangible assets and the MSR asset. The projections are based on existing asset balances, the current interest rate environment and prepayment speeds as of June 30, 2020. The actual amortization expense the Company recognizes in any given period may be significantly different depending upon acquisition or sale activities, changes in interest rates, prepayment speeds, market conditions, regulatory requirements and events or circumstances that indicate the carrying amount of an asset may not be recoverable. (in thousands) Core deposit Customer list MSR asset Year ending December 31, 2020 (remaining six months) $ 1,374 $ 253 $ 653 2021 2,453 507 1,139 2022 1,987 507 1,131 2023 1,490 483 1,365 2024 1,010 449 658 2025 573 449 658 Thereafter 391 970 1,961 Total $ 9,278 $ 3,618 $ 7,565

Short and Long-Term Borrowings

Short and Long-Term Borrowings	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Short and Long-Term Borrowings	Short and Long-Term Borrowings Short-Term Borrowings: Short-term borrowings include any borrowing with an original maturity of one year or less. At both June 30, 2020 and December 31, 2019, the Company did not have any outstanding short-term borrowings. Long-Term Borrowings: The components of long-term borrowings (borrowing with an original maturity greater than one year) were as follows. (in thousands) June 30, 2020 December 31, 2019 PPP Liquidity Facility (“PPPLF”) $ 335,981 $ — FHLB advances 39,030 25,061 Junior subordinated debentures 30,815 30,575 Subordinated notes 12,000 11,993 Total long-term borrowings $ 417,826 $ 67,629 PPPLF: To support the effectiveness of the PPP loans, the Federal Reserve introduced the PPPLF to extend credit to financial institutions that made PPP loans, with the related PPP loans used as collateral on the borrowings. The PPPLF borrowings have a fixed interest rate of 0.35% and a maturity date equal to the maturity date of the related PPP loans, with the PPP loans maturing either two FHLB Advances : The FHLB advances bear fixed rates, require interest-only monthly payments, and have maturity dates through 2027. The weighted average rate of the FHLB advances was 0.93% at June 30, 2020 and 1.57% at December 31, 2019. Junior Subordinated Debentures : The following table shows the breakdown of junior subordinated debentures. Interest on all debentures is current. Any applicable discounts (initially recorded to carry an acquired debenture at its then estimated fair value) are being accreted to interest expense over the remaining life of the debentures. All the debentures below are currently callable and may be redeemed in part or in full at par plus any accrued but unpaid interest. At June 30, 2020 and December 31, 2019, $29.7 million and $29.4 million, respectively, qualify as Tier 1 capital. Junior Subordinated Debentures June 30, 2020 December 31, 2019 (in thousands) Maturity Par Unamortized Carrying Carrying 2004 Nicolet Bankshares Statutory Trust (1) 7/15/2034 $ 6,186 $ — $ 6,186 $ 6,186 2005 Mid-Wisconsin Financial Services, Inc. (2) 12/15/2035 10,310 (3,072) 7,238 7,138 2006 Baylake Corp. (3) 9/30/2036 16,598 (3,765) 12,833 12,715 2004 First Menasha Bancshares, Inc. (4) 3/17/2034 5,155 (597) 4,558 4,536 Total $ 38,249 $ (7,434) $ 30,815 $ 30,575 (1) The interest rate is 8.00% fixed. (2) The debentures, assumed in April 2013 as the result of an acquisition, have a floating rate of the three-month LIBOR plus 1.43%, adjusted quarterly. The interest rates were 1.74% and 3.32% as of June 30, 2020 and December 31, 2019, respectively. (3) The debentures, assumed in April 2016 as a result of an acquisition, have a floating rate of the three-month LIBOR plus 1.35%, adjusted quarterly. The interest rates were 1.66% and 3.31% as of June 30, 2020 and December 31, 2019, respectively. (4) The debentures, assumed in April 2017 as the result of an acquisition, have a floating rate of the three-month LIBOR plus 2.79%, adjusted quarterly. The interest rates were 3.09% and 4.69% as of June 30, 2020 and December 31, 2019, respectively. Subordinated Notes : In first half 2015, the Company placed an aggregate of $12 million in subordinated Notes in private placements with certain accredited investors. All Notes were issued with 10-year maturities, have a fixed annual interest rate of 5% payable quarterly, and are callable on or after the fifth anniversary of their respective issuances dates. The subordinated Notes qualify for Tier 2 capital for regulatory purposes, and are discounted in accordance with regulations when the debt has five years or less remaining to maturity.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value represents the estimated price at which an orderly transaction to sell an asset or transfer a liability would take place between market participants at the measurement date under current market conditions (i.e., an exit price concept), and is a market-based measurement versus an entity-specific measurement. The Company records and/or discloses financial instruments on a fair value basis. These financial assets and financial liabilities are measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observability of the assumptions used to determine fair value. These levels are: • Level 1 – quoted market prices in active markets for identical assets or liabilities that a company has the ability to access at the measurement date • Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly • Level 3 – significant unobservable inputs for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity In instances where the fair value measurement is based on inputs from different levels, the level within which the entire fair value measurement will be categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. This assessment of the significance of an input requires management judgment. Recurring basis fair value measurements: The following table presents the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Recurring Basis: Total Level 1 Level 2 Level 3 June 30, 2020 U.S. government agency securities $ 63,850 $ — $ 63,850 $ — State, county and municipals 166,498 — 166,498 — Mortgage-backed securities 196,896 — 196,896 — Corporate debt securities 83,565 — 80,435 3,130 Securities AFS $ 510,809 $ — $ 507,679 $ 3,130 Other investments (equity securities) $ 3,213 $ 3,213 $ — $ — December 31, 2019 U.S. government agency securities $ 16,460 $ — $ 16,460 $ — State, county and municipals 156,393 — 156,393 — Mortgage-backed securities 195,018 — 195,018 — Corporate debt securities 81,431 — 78,301 3,130 Securities AFS $ 449,302 $ — $ 446,172 $ 3,130 Other investments (equity securities) $ 3,375 $ 3,375 $ — $ — The following is a description of the valuation methodologies used by the Company for the securities AFS and equity securities measured at fair value on a recurring basis, noted in the tables above. Where quoted market prices on securities exchanges are available, the investments are classified as Level 1. Level 1 investments primarily include exchange-traded equity securities. If quoted market prices are not available, fair value is generally determined using prices obtained from independent pricing vendors who use pricing models (with typical inputs including benchmark yields, reported trades for similar securities, issuer spreads or relationship to other benchmark quoted securities), or discounted cash flows, and are classified as Level 2. Examples of these investments include U.S. government agency securities, mortgage-backed securities, obligations of state, county and municipals, and certain corporate debt securities. Finally, in certain cases where there is limited activity or less transparency around inputs to the estimated fair value, investments are classified within Level 3 of the hierarchy. Examples of these include private municipal bonds and corporate debt securities, which include trust preferred security investments. At June 30, 2020 and December 31, 2019, it was determined that carrying value was the best approximation of fair value for these Level 3 securities, based primarily on the internal analysis on these securities. The following table presents the changes in the Level 3 securities AFS measured at fair value on a recurring basis. (in thousands) Six Months Ended Year Ended Level 3 Fair Value Measurements: June 30, 2020 December 31, 2019 Balance at beginning of year $ 3,130 $ 8,490 Acquired balance — 300 Paydowns/Sales/Settlements — (5,660) Balance at end of period $ 3,130 $ 3,130 Nonrecurring basis fair value measurements: The following table presents the Company’s assets measured at fair value on a nonrecurring basis, aggregated by level in the fair value hierarchy within which those measurements fall. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Nonrecurring Basis: Total Level 1 Level 2 Level 3 June 30, 2020 Collateral dependent loans $ 7,776 $ — $ — $ 7,776 Other real estate owned (“OREO”) 1,000 — — 1,000 MSR asset 8,979 — — 8,979 December 31, 2019 Impaired loans $ 16,150 $ — $ — $ 16,150 OREO 1,000 — — 1,000 MSR asset 8,420 — — 8,420 The following is a description of the valuation methodologies used by the Company for the items noted in the table above. For individually evaluated impaired loans, the amount of impairment is based upon the present value of expected future cash flows discounted at the loan’s effective interest rate, the estimated fair value of the underlying collateral for collateral-dependent loans, or the estimated liquidity of the note. For OREO, the fair value is based upon the estimated fair value of the underlying collateral adjusted for the expected costs to sell. To estimate the fair value of the MSR asset, the underlying serviced loan pools are stratified by interest rate tranche and term of the loan, and a valuation model is used to calculate the present value of the expected future cash flows for each stratum. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as costs to service, a discount rate, ancillary income, default rates and losses, and prepayment speeds. Although some of these assumptions are based on observable market data, other assumptions are based on unobservable estimates of what market participants would use to measure fair value. Financial instruments: The carrying amounts and estimated fair values of the Company’s financial instruments are shown below. June 30, 2020 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 822,684 $ 822,684 $ 822,684 $ — $ — Certificates of deposit in other banks 17,809 17,825 — 17,825 — Securities AFS 510,809 510,809 — 507,679 3,130 Other investments, including equity securities 26,375 26,375 3,213 19,299 3,863 Loans held for sale 21,832 22,377 — 22,377 — Loans, net 2,792,371 2,878,986 — — 2,878,986 BOLI 78,953 78,953 78,953 — — MSR asset 7,165 8,979 — — 8,979 Financial liabilities: Deposits $ 3,537,805 $ 3,545,764 $ — $ — $ 3,545,764 Short-term borrowings — — — — — Long-term borrowings 417,826 417,905 — 375,707 42,198 December 31, 2019 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 182,059 $ 182,059 $ 182,059 $ — $ — Certificates of deposit in other banks 19,305 19,310 — 19,310 — Securities AFS 449,302 449,302 — 446,172 3,130 Other investments, including equity securities 24,072 24,072 3,375 16,759 3,938 Loans held for sale 2,706 2,753 — 2,753 — Loans, net 2,559,779 2,593,110 — — 2,593,110 BOLI 78,140 78,140 78,140 — — MSR asset 5,919 8,420 — — 8,420 Financial liabilities: Deposits $ 2,954,453 $ 2,956,229 $ — $ — $ 2,956,229 Long-term borrowings 67,629 66,816 — 25,075 41,741 The carrying value of certain assets and liabilities such as cash and cash equivalents, BOLI, nonmaturing deposits, and short-term borrowings, approximate their estimated fair value. For those financial instruments not previously disclosed, the following is a description of the valuation methodologies used. Certificates of deposits in other banks: Fair values are estimated using discounted cash flow analysis based on current interest rates being offered by instruments with similar terms and represents a Level 2 measurement. Other investments: The valuation methodologies utilized for exchange-traded equity securities are discussed under “Recurring basis fair value measurements” above. The carrying amount of Federal Reserve Bank and FHLB stock is a reasonably accepted fair value estimate given their restricted nature. Fair value is the redeemable (carrying) value based on the redemption provisions of the instruments which is considered a Level 2 measurement. The carrying amount of the remaining other investments (particularly common stocks of companies or other banks that are not publicly traded) approximates their fair value, determined primarily by analysis of company financial statements and recent capital issuances of the respective companies or banks, if any, and represents a Level 3 measurement. Loans held for sale: The fair value estimation process for the loans held for sale portfolio is segregated by loan type. The estimated fair value was based on what secondary markets are currently offering for portfolios with similar characteristics and represents a Level 2 measurement. Loans, net : For variable-rate loans that reprice frequently and with no significant change in credit risk or other optionality, fair values are based on carrying values. Fair values for all other loans are estimated by discounting contractual cash flows using estimated market discount rates, which reflect the credit and interest rate risk inherent in the loan. Collateral-dependent impaired loans are included in loans, net. The fair value of loans is considered to be a Level 3 measurement due to internally developed discounted cash flow measurements. Deposits : The fair value of deposits with no stated maturity (such as demand deposits, savings, interest and noninterest checking, and money market accounts) is, by definition, equal to the amount payable on demand at the reporting date. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market place on certificates of similar remaining maturities. Use of internal discounted cash flows provides a Level 3 fair value measurement. Long-term borrowings : The fair value of the FHLB advances is obtained from the FHLB which uses a discounted cash flow analysis based on current market rates of similar maturity debt securities and represents a Level 2 measurement. The PPPLF funding has a fixed rate of 0.35% for all participants; thus, carrying value approximates the estimated fair value and represents a Level 2 measurement. The fair values of the junior subordinated debentures and subordinated notes utilize a discounted cash flow analysis based on an estimate of current interest rates being offered by instruments with similar terms and credit quality. Since the market for these instruments is limited, the internal evaluation represents a Level 3 measurement. Lending-related commitments and derivative financial instruments : At June 30, 2020 and December 31, 2019, the estimated fair value of letters of credit, interest rate lock commitments on residential mortgage loans, outstanding mandatory commitments to sell residential mortgage loans into the secondary market, and mirror interest rate swap agreements were not significant. Limitations : Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Fair value estimates may not be realizable in an immediate settlement of the instrument. In some instances, there are no quoted market prices for the Company’s various

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
General	General In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the consolidated balance sheets, statements of income, comprehensive income, changes in stockholders’ equity and cash flows of Nicolet Bankshares, Inc. (the “Company” or “Nicolet”) and its subsidiaries, for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions and balances have been eliminated. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the entire year. These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been omitted or abbreviated. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Critical Accounting Policies and Estimates	Critical Accounting Policies and Estimates Preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, the allowance for credit losses, valuation of loans in acquisition transactions, useful lives for depreciation and amortization, fair value of financial instruments, other-than-temporary impairment calculations, valuation of deferred tax assets, uncertain income tax positions and contingencies. Estimates that are particularly susceptible to significant change for the Company include the determination of the allowance for credit losses, the determination and assessment of deferred tax assets and liabilities, and the valuation of loans acquired in acquisition transactions; therefore, these are critical accounting policies. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: external market factors such as market interest rates and employment rates, changes to operating policies and procedures, changes in applicable banking or tax regulations, and changes to deferred tax estimates. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period presented. There have been no material changes or developments with respect to the assumptions or methodologies that the Company uses when applying what management believes are critical accounting policies and developing critical accounting estimates as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, except as disclosed in Updates to Significant Accounting Policies and Recent Accounting Developments Adopted below.
Securities Available for Sale	Securities Available for Sale : Securities classified as AFS are those securities that the Company intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as AFS would be based on various factors, including significant movements in interest rates, changes in the maturity mix of the Company’s assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. The Company evaluates securities AFS in unrealized loss positions on a quarterly basis to determine whether the decline in fair value below the amortized costs basis (impairment) is due to credit-related factors or noncredit-related factors. In making this evaluation, management considers the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. Any impairment that is not credit-related is recognized in other comprehensive income, net of related deferred income taxes. Credit-related impairment is recognized as an allowance for credit losses (“ACL”) on the balance sheet based on the amount by which the amortized cost basis exceeds the fair value, with a corresponding charge to net income. Both the ACL and the charge to net income may be reversed if conditions change. However, if the Company intends to sell an impaired AFS security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount must be recognized in net income with a corresponding adjustment to the security's amortized cost basis rather than through the establishment of an ACL. See Note 5 for additional disclosures on AFS securities.
Loans - Originated and Acquired	Loans – Originated : Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are carried at their amortized cost basis, which is the unpaid principal balance outstanding, net of deferred loan fees and costs and any direct principal charge-offs. The Company made an accounting policy election to exclude accrued interest from the amortized cost basis of loans and report such accrued interest as part of accrued interest receivable and other assets on the consolidated balance sheets. Interest income is accrued on the unpaid principal balance using the simple interest method. The accrual of interest income on loans is discontinued when, in the opinion of management, there is reasonable doubt as to the borrower’s ability to meet payment of interest or principal when due. Loans are generally placed on nonaccrual status when contractually past due 90 days or more as to interest or principal, though may be placed in such status earlier based on the circumstances. Loans past due 90 days or more may continue on accrual only when they are well secured and/or in process of collection or renewal. When interest accrual is discontinued, all previously accrued but uncollected interest is reversed against current period interest income. Except in very limited circumstances, cash collections on nonaccrual loans are credited to the loan receivable balance and no interest income is recognized on those loans until the principal balance is paid in full. Accrual of interest may be resumed when the customer is current on all principal and interest payments and has been paying on a timely basis for a sustained period of time. See Note 6 for additional information and disclosures on loans. Loans – Acquired : Loans purchased in acquisition transactions are acquired loans, and are recorded at their estimated fair value at the acquisition date. Prior to January 1, 2020, as described in further detail in the Company’s 2019 Annual Report on Form 10-K, the Company initially classified acquired loans as either purchased credit impaired (“PCI”) loans (i.e., loans that reflect credit deterioration since origination and it is probable at acquisition that the Company will be unable to collect all contractually required payments) or purchased non-impaired loans (i.e., “performing acquired loans”). The Company estimated the fair value of PCI loans based on the amount and timing of expected principal, interest and other cash flows for each loan. The excess of the loan’s contractual principal and interest payments over all cash flows expected to be collected at acquisition was considered an amount that should not be accreted. These credit discounts (“nonaccretable marks”) were included in the determination of the initial fair value for acquired loans; therefore, no allowance for credit losses was recorded at the acquisition date. Differences between the estimated fair values and expected cash flows of acquired loans at the acquisition date that were not credit-based (“accretable marks”) were subsequently accreted to interest income over the estimated life of the loans. Subsequent to the acquisition date for PCI loans, increases in cash flows over those expected at the acquisition date resulted in a move of the discount from nonaccretable to accretable, while decreases in expected cash flows after the acquisition date were recognized through the provision for credit losses. Subsequent to January 1, 2020, acquired loans that have evidence of more-than-insignificant deterioration in credit quality since origination are considered purchased credit deteriorated (“PCD”) loans. At acquisition, an estimate of expected credit losses is made for PCD loans. This initial allowance for credit losses is allocated to individual PCD loans and added to the purchase price or acquisition date fair value to establish the initial amortized cost basis of the PCD loans. Any difference between the unpaid principal balance of PCD loans and the amortized cost basis is considered to relate to noncredit factors, resulting in a discount or premium that is amortized to interest income. For acquired loans not deemed PCD loans at acquisition, the difference between the initial fair value mark and the unpaid principal balance are recognized in interest income over the estimated life of the loans. In addition, an initial allowance for expected credit losses is estimated and recorded as provision expense at the acquisition date. The subsequent measurement of expected credit losses for all acquired loans is the same as the subsequent measurement of expected credit losses for originated loans. See Note 6 for additional information and disclosures on loans.
Allowance for Credit Losses - Loans	Allowance for Credit Losses - Loans : The ACL-Loans represents management’s estimate of expected credit losses in the Company’s loan portfolio at the balance sheet date. The Company estimates the ACL-Loans based on the amortized cost basis of the underlying loan and has made an accounting policy election to exclude accrued interest from the loan’s amortized cost basis and the related measurement of the ACL-Loans. Estimating the amount of the ACL-Loans is a function of a number of factors, including but not limited to changes in the loan portfolio, net charge-offs, trends in past due and nonaccrual loans, and the level of potential problem loans, all of which may be susceptible to significant change. Prior to January 1, 2020, as described in further detail in the Company’s 2019 Annual Report on Form 10-K, the Company used an incurred loss impairment model. This methodology assessed the overall appropriateness of the allowance for credit losses and included allocations for specifically identified impaired loans and loss factors for all remaining loans, with a component primarily based on historical loss rates and another component primarily based on other qualitative factors. Impaired loans were individually assessed and measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the fair value of the collateral if the loan was collateral dependent. Loans that were determined not to be impaired were collectively evaluated for impairment, stratified by type and allocated loss ranges based on the Company’s actual historical loss ratios for each strata, and adjustments were also provided for certain environmental and other qualitative factors. Subsequent to January 1, 2020, the Company uses a current expected credit loss model (“CECL”). This methodology also considers historical loss rates and other qualitative adjustments, as well as a new forward-looking component that considers reasonable and supportable forecasts over the expected life of each loan. To develop the ACL-Loans estimate under the CECL
Recent Accounting Developments Adopted	Recent Accounting Developments Adopted In August 2018, the FASB issued Accounting Standards Update (“ASU”) 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . This ASU modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The updated guidance was effective for annual reporting periods, including interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the updated guidance effective January 1, 2020, with no material impact on its consolidated financial statements as the new ASU only revises disclosure requirements. See Note 9 for fair value disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments intended to improve the financial reporting by requiring earlier recognition of credit losses on loans and certain other financial assets. Topic 326 replaces the incurred loss impairment model (which recognizes losses when a probable threshold is met) with a requirement to recognize lifetime expected credit losses immediately when a financial asset is originated or purchased. The measurement of lifetime expected credit losses is based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU was effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new accounting standard on January 1, 2020, as required, and recorded a cumulative-effect adjustment of $6 million to retained earnings. See Updates to Significant Accounting Policies above for changes to accounting policies and see Notes 5 and 6 for additional disclosures related to this new accounting pronouncement.
Reclassifications	Reclassifications Certain amounts in the 2019 consolidated financial statements have been reclassified to conform to the 2020 presentation.
Allowance for credit losses - Loans	The ACL-Loans represents management’s estimate of expected credit losses in the Company’s loan portfolio at the balance sheet date. To assess the appropriateness of the ACL-Loans, an allocation methodology is applied by Nicolet which focuses on evaluation of qualitative and environmental factors, including but not limited to: (i) evaluation of facts and issues related to specific loans; (ii) management’s ongoing review and grading of the loan portfolio; (iii) consideration of historical loan loss and delinquency experience on each portfolio segment; (iv) trends in past due and nonperforming loans; (v) the risk characteristics of the various loan segments; (vi) changes in the size and character of the loan portfolio; (vii) concentrations of loans to specific borrowers or industries; (viii) existing economic conditions; (ix) the fair value of underlying collateral; and (x) other qualitative and quantitative factors which could affect expected credit losses. Assessing these numerous factors involves significant judgment.Management allocates the ACL-Loans by pools of risk within each loan portfolio segment. The allocation methodology consists of the following components. First, a specific reserve is established for individually evaluated credit-deteriorated loans, which management defines as nonaccrual credit relationships over $250,000, all loans determined to be troubled debt restructurings (“restructured loans”), plus other loans with evidence of credit deterioration. The specific reserve in the ACL-Loans for these credit deteriorated loans is equal to the aggregate collateral or discounted cash flow shortfall. Second, management allocates the ACL-Loans with historical loss rates by loan segment. The loss factors are measured on a quarterly basis and applied to each loan segment based on current loan balances and projected for their expected remaining life. Next, management allocates the ACL-Loans using the qualitative factors mentioned above. Consideration is given to those current qualitative or environmental factors that are likely to cause estimated credit losses as of the evaluation date to differ from the historical loss experience of each loan segment. Lastly, management considers reasonable and supportable forecasts to assess the collectability of future cash flows.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per common share	Presented below are the calculations for basic and diluted earnings per common share. Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share data) 2020 2019 2020 2019 Net income attributable to Nicolet Bankshares, Inc. $ 13,478 $ 18,549 $ 24,033 $ 28,816 Weighted average common shares outstanding 10,417 9,374 10,467 9,418 Effect of dilutive common stock awards 103 318 192 293 Diluted weighted average common shares outstanding 10,520 9,692 10,659 9,711 Basic earnings per common share* $ 1.29 $ 1.98 $ 2.30 $ 3.06 Diluted earnings per common share* $ 1.28 $ 1.91 $ 2.25 $ 2.97 *Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year to date earnings per share data.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of weighted average assumption for stock option	The weighted average assumptions used in the Black-Scholes model for valuing stock option grants were as follows. Six Months Ended June 30, 2020 2019 Dividend yield — % — % Expected volatility 25 % 25 % Risk-free interest rate 1.67 % 2.37 % Expected average life 7 years 7 years Weighted average per share fair value of options $ 21.83 $ 19.23
Schedule of stock options outstanding	A summary of the Company’s stock option activity is summarized below. Stock Options Option Shares Weighted Weighted Average Aggregate Outstanding - December 31, 2019 1,443,733 $ 48.75 Granted 39,500 71.89 Exercise of stock options * (43,552) 23.07 Forfeited — — Outstanding - June 30, 2020 1,439,681 $ 50.16 7.1 $ 10,601 Exercisable - June 30, 2020 726,931 $ 44.59 6.4 $ 7,527 * The terms of the stock option agreements permit having a number of shares of stock withheld, the fair market value of which as of the date of exercise is sufficient to satisfy the exercise price and/or tax withholding requirements. For the six months ended June 30, 2020, 17,699 such shares were surrendered to the Company.
Schedule of restricted stock awards	A summary of the Company’s restricted stock activity is summarized below. Restricted Stock Weighted Average Grant Restricted Shares Outstanding - December 31, 2019 $ 44.94 22,521 Granted 55.52 10,450 Vested * 43.66 (13,615) Forfeited — — Outstanding - June 30, 2020 $ 51.55 19,356 * The terms of the restricted stock agreements permit the surrender of shares to the Company upon vesting in order to satisfy applicable tax withholding requirements at the minimum statutory withholding rate, and accordingly, 1,407 shares were surrendered during the six months ended June 30, 2020.

Securities Available for Sale (

Securities Available for Sale (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Securities, Available-for-sale [Abstract]
Schedule of amortized cost and fair value of securities available for sale	Amortized cost and fair value of securities available for sale are summarized as follows. June 30, 2020 (in thousands) Amortized Cost Gross Gross Fair Value Fair Value as % of Total U.S. government agency securities $ 63,512 $ 338 $ — $ 63,850 12 % State, county and municipals 162,239 4,261 2 166,498 33 % Mortgage-backed securities 188,819 8,087 10 196,896 39 % Corporate debt securities 78,036 5,529 — 83,565 16 % Total $ 492,606 $ 18,215 $ 12 $ 510,809 100 % December 31, 2019 (in thousands) Amortized Cost Gross Gross Fair Value Fair Value as % of Total U.S. government agency securities $ 16,516 $ 4 $ 60 $ 16,460 4 % State, county and municipals 155,501 1,049 157 156,393 35 % Mortgage-backed securities 193,223 2,492 697 195,018 43 % Corporate debt securities 78,009 3,422 — 81,431 18 % Total $ 443,249 $ 6,967 $ 914 $ 449,302 100 %
Schedule of unrealized losses and fair value	The following table presents gross unrealized losses and the related estimated fair value of securities AFS for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position. June 30, 2020 Less than 12 months 12 months or more Total ($ in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Number of State, county and municipals $ 882 $ 2 $ — $ — $ 882 $ 2 2 Mortgage-backed securities 1,329 1 762 9 2,091 10 23 Total $ 2,211 $ 3 $ 762 $ 9 $ 2,973 $ 12 25 December 31, 2019 Less than 12 months 12 months or more Total ($ in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Number of U.S. government agency securities $ 1,035 $ 2 $ 11,091 $ 58 $ 12,126 $ 60 6 State, county and municipals 22,451 132 7,605 25 30,056 157 56 Mortgage-backed securities 49,626 245 47,271 452 96,897 697 150 Total $ 73,112 $ 379 $ 65,967 $ 535 $ 139,079 $ 914 212
Schedule of amortized cost and fair value classified by contractual maturities	The amortized cost and fair value of securities AFS by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties; as this is particularly inherent in mortgage-backed securities, these securities are not included in the maturity categories below. June 30, 2020 (in thousands) Amortized Cost Fair Value Due in less than one year $ 28,148 $ 28,294 Due in one year through five years 217,289 224,722 Due after five years through ten years 42,898 44,561 Due after ten years 15,452 16,336 303,787 313,913 Mortgage-backed securities 188,819 196,896 Securities AFS $ 492,606 $ 510,809
Schedule of proceeds from sale of securities AFS	Proceeds and realized gains / losses from the sale of securities AFS were as follows. Six Months Ended June 30, (in thousands) 2020 2019 Gross gains $ 164 $ 152 Gross losses — (120) Gains (losses) on sales of securities AFS, net $ 164 $ 32 Proceeds from sales of securities AFS $ 9,232 $ 13,240

Loans, Allowance for Credit L_2

Loans, Allowance for Credit Losses - Loans, and Credit Quality (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Schedule of loan composition by portfolio segment	The loan composition is summarized as follows. June 30, 2020 December 31, 2019 (in thousands) Amount % of Amount % of Commercial & industrial $ 729,264 26 % $ 806,189 31 % Paycheck Protection Program (“PPP”) loans 329,157 12 — — Owner-occupied commercial real estate (“CRE”) 495,722 17 496,372 19 Agricultural 99,020 3 95,450 4 CRE investment 447,900 16 443,218 17 Construction & land development 107,277 4 92,970 4 Residential construction 51,332 2 54,403 2 Residential first mortgage 417,694 15 432,167 17 Residential junior mortgage 114,323 4 122,771 5 Retail & other 29,812 1 30,211 1 Loans 2,821,501 100 % 2,573,751 100 % Less allowance for credit losses - Loans (“ACL-Loans”) 29,130 13,972 Loans, net $ 2,792,371 $ 2,559,779 Allowance for credit losses - Loans to loans 1.03 % 0.54 %
Schedule of changes in allowance for credit losses by portfolio segment	A roll forward of the allowance for credit losses is summarized as follows. Six Months Ended Year Ended (in thousands) June 30, 2020 June 30, 2019 December 31, 2019 Beginning balance $ 13,972 $ 13,153 $ 13,153 Adoption of CECL 8,488 — — Initial PCD ACL 797 — — Total impact for adoption of CECL 9,285 — — Provision for credit losses 6,000 500 1,200 Charge-offs (216) (232) (927) Recoveries 89 150 546 Net (charge-offs) recoveries (127) (82) (381) Ending balance $ 29,130 $ 13,571 $ 13,972 The following table presents the balance and activity in the ACL-Loans by portfolio segment. Six Months Ended June 30, 2020 (in thousands) Commercial Owner- Agricultural CRE Construction & land Residential Residential Residential Retail Total ACL-Loans * Beginning balance $ 5,471 $ 3,010 $ 579 $ 1,600 $ 414 $ 368 $ 1,669 $ 517 $ 344 $ 13,972 Adoption of CECL 2,962 1,249 361 1,970 51 124 1,286 351 134 8,488 Initial PCD ACL 797 — — — — — — — — 797 Provision 1,010 919 399 1,542 325 21 1,348 294 142 6,000 Charge-offs (97) — — (20) — — — — (99) (216) Recoveries 60 — — — — — 4 15 10 89 Net (charge-offs) recoveries (37) — — (20) — — 4 15 (89) (127) Ending balance $ 10,203 $ 5,178 $ 1,339 $ 5,092 $ 790 $ 513 $ 4,307 $ 1,177 $ 531 $ 29,130 As % of ACL-Loans 35 % 18 % 4 % 17 % 3 % 2 % 15 % 4 % 2 % 100 % *The PPP loans are fully guaranteed by the SBA; thus, no ACL-Loans has been allocated to these loans. For comparison purposes, the following table presents the balance and activity in the ACL-Loans by portfolio segment for the prior year-end period. Year Ended December 31, 2019 (in thousands) Commercial Owner- Agricultural CRE Construction Residential Residential Residential Retail & ACL-Loans Beginning balance $ 5,271 $ 2,847 $ 422 $ 1,470 $ 510 $ 211 $ 1,646 $ 472 $ 304 $ 13,153 Provision (61) 254 157 130 (96) 383 9 86 338 1,200 Charge-offs (159) (93) — — — (226) (22) (80) (347) (927) Recoveries 420 2 — — — — 36 39 49 546 Net (charge-offs) recoveries 261 (91) — — — (226) 14 (41) (298) (381) Ending balance $ 5,471 $ 3,010 $ 579 $ 1,600 $ 414 $ 368 $ 1,669 $ 517 $ 344 $ 13,972 As % of ACL-Loans 39 % 22 % 4 % 11 % 3 % 3 % 12 % 4 % 2 % 100 %
Schedule of collateral dependent loans by portfolio segment	The following table presents collateral dependent loans by portfolio segment and collateral type, including those loans with and without a related allowance allocation as of June 30, 2020. June 30, 2020 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 3,688 $ 3,688 $ — $ 3,688 $ 1,231 PPP loans — — — — — — Owner-occupied CRE 2,524 — 2,524 339 2,185 148 Agricultural 600 835 1,435 1,435 — — CRE investment 975 — 975 975 — — Construction & land development 533 — 533 533 — — Residential construction — — — — — — Residential first mortgage — — — — — — Residential junior mortgage — — — — — — Retail & other — — — — — — Total loans $ 4,632 $ 4,523 $ 9,155 $ 3,282 $ 5,873 $ 1,379
Schedule of impaired loans by portfolio segment	The following table presents impaired loans and their respective allowance for credit loss allocations at December 31, 2019, as determined in accordance with historical accounting guidance. Total Impaired Loans – December 31, 2019 (in thousands) Recorded Unpaid Principal Related Average Recorded Interest Income Commercial & industrial $ 5,932 $ 7,950 $ 625 $ 5,405 $ 1,170 Owner-occupied CRE 3,430 4,016 — 3,677 256 Agricultural 2,134 2,172 116 2,311 37 CRE investment 2,426 2,790 — 2,497 364 Construction & land development 382 382 — 460 — Residential construction — — — — — Residential first mortgage 2,357 2,629 — 2,412 178 Residential junior mortgage 218 349 — 224 58 Retail & other 12 12 — 12 — Total $ 16,891 $ 20,300 $ 741 $ 16,998 $ 2,063
Schedule of past due loans by portfolio segment	The following tables present past due loans by portfolio segment. June 30, 2020 (in thousands) 30-89 Days Past 90 Days & Over or nonaccrual Current Total Commercial & industrial $ 162 $ 4,142 $ 724,960 $ 729,264 PPP loans — — 329,157 329,157 Owner-occupied CRE 71 3,005 492,646 495,722 Agricultural 35 1,711 97,274 99,020 CRE investment — 975 446,925 447,900 Construction & land development 196 533 106,548 107,277 Residential construction 549 — 50,783 51,332 Residential first mortgage 354 1,067 416,273 417,694 Residential junior mortgage — 565 113,758 114,323 Retail & other 85 — 29,727 29,812 Total loans $ 1,452 $ 11,998 $ 2,808,051 $ 2,821,501 Percent of total loans 0.1 % 0.4 % 99.5 % 100.0 % December 31, 2019 (in thousands) 30-89 Days Past 90 Days & Over or nonaccrual Current Total Commercial & industrial $ 1,729 $ 6,249 $ 798,211 $ 806,189 Owner-occupied CRE 112 3,311 492,949 496,372 Agricultural — 1,898 93,552 95,450 CRE investment — 1,073 442,145 443,218 Construction & land development 2,063 20 90,887 92,970 Residential construction 302 — 54,101 54,403 Residential first mortgage 2,736 1,090 428,341 432,167 Residential junior mortgage 217 480 122,074 122,771 Retail & other 110 1 30,100 30,211 Total loans $ 7,269 $ 14,122 $ 2,552,360 $ 2,573,751 Percent of total loans 0.3 % 0.5 % 99.2 % 100.0 %
Schedule of nonaccrual loans by portfolio segment	The following table presents nonaccrual loans by portfolio segment. The nonaccrual loans without a related allowance for credit losses have been reflected in the collateral dependent loans table above. June 30, 2020 December 31, 2019 (in thousands) Nonaccrual Loans % of Total Nonaccrual Loans % of Total Commercial & industrial $ 4,142 35 % $ 6,249 44 % PPP loans — — — — Owner-occupied CRE 3,005 25 3,311 23 Agricultural 1,711 14 1,898 14 CRE investment 975 8 1,073 8 Construction & land development 533 4 20 — Residential construction — — — — Residential first mortgage 1,067 9 1,090 8 Residential junior mortgage 565 5 480 3 Retail & other — — 1 — Nonaccrual loans $ 11,998 100 % $ 14,122 100 % Percent of total loans 0.4 % 0.5 %
Schedule of loans by loan risk categories by portfolio segment	The following table presents total loans by risk categories and year of origination. June 30, 2020 Amortized Cost Basis by Origination Year (in thousands) 2020 2019 2018 2017 2016 Prior Revolving Revolving to Term TOTAL Commercial & industrial (a) Grades 1-4 $ 397,577 $ 150,186 $ 109,524 $ 68,689 $ 28,748 $ 58,379 $ 183,671 $ — $ 996,774 Grade 5 229 5,398 7,778 625 1,524 2,777 16,707 — 35,038 Grade 6 51 23 796 5,698 1 35 4,136 — 10,740 Grade 7 1,732 1,215 1,112 1,382 545 6,057 3,826 — 15,869 Total $ 399,589 $ 156,822 $ 119,210 $ 76,394 $ 30,818 $ 67,248 $ 208,340 $ — $ 1,058,421 Owner-occupied CRE Grades 1-4 $ 36,065 $ 67,425 $ 82,360 $ 62,980 $ 49,060 $ 164,982 $ 1,499 $ — $ 464,371 Grade 5 — 574 1,646 6,572 379 7,086 488 — 16,745 Grade 6 — — — 1,736 — 734 — — 2,470 Grade 7 — 337 281 2,189 1,776 7,553 — — 12,136 Total $ 36,065 $ 68,336 $ 84,287 $ 73,477 $ 51,215 $ 180,355 $ 1,987 $ — $ 495,722 Agricultural Grades 1-4 $ 8,766 $ 5,484 $ 7,266 $ 9,697 $ 2,240 $ 29,722 $ 20,775 $ — $ 83,950 Grade 5 20 375 36 573 689 4,772 633 — 7,098 Grade 6 — — — 328 392 — — — 720 Grade 7 — — 34 115 1,200 5,824 79 — 7,252 Total $ 8,786 $ 5,859 $ 7,336 $ 10,713 $ 4,521 $ 40,318 $ 21,487 $ — $ 99,020 CRE investment Grades 1-4 $ 42,819 $ 76,688 $ 41,581 $ 69,179 $ 39,866 $ 158,663 $ 6,303 $ — $ 435,099 Grade 5 — — 106 1,307 388 6,396 45 — 8,242 Grade 6 — 104 — 913 654 — — — 1,671 Grade 7 — — — — 144 2,744 — — 2,888 Total $ 42,819 $ 76,792 $ 41,687 $ 71,399 $ 41,052 $ 167,803 $ 6,348 $ — $ 447,900 Construction & land development Grades 1-4 $ 25,720 $ 40,447 $ 19,330 $ 3,442 $ 2,261 $ 9,282 $ 1,799 $ — $ 102,281 Grade 5 — 219 2,699 45 — 26 — — 2,989 Grade 6 — 1,100 — — — — — — 1,100 Grade 7 — — — — — 907 — — 907 Total $ 25,720 $ 41,766 $ 22,029 $ 3,487 $ 2,261 $ 10,215 $ 1,799 $ — $ 107,277 Residential construction Grades 1-4 $ 14,455 $ 34,545 $ 1,459 $ 351 $ 19 $ 133 $ — $ — $ 50,962 Grade 5 — 314 — 56 — — — — 370 Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 14,455 $ 34,859 $ 1,459 $ 407 $ 19 $ 133 $ — $ — $ 51,332 Residential first mortgage Grades 1-4 $ 54,206 $ 71,663 $ 49,497 $ 53,126 $ 52,588 $ 128,667 $ 919 $ — $ 410,666 Grade 5 — 825 1,331 258 760 1,689 — — 4,863 Grade 6 — — — — — — — — — Grade 7 — 656 197 19 65 1,228 — — 2,165 Total $ 54,206 $ 73,144 $ 51,025 $ 53,403 $ 53,413 $ 131,584 $ 919 $ — $ 417,694 Residential junior mortgage Grades 1-4 $ 2,470 $ 5,261 $ 4,799 $ 1,642 $ 1,753 $ 3,203 $ 92,924 $ 1,669 $ 113,721 Grade 5 — — — — — 33 — — 33 Grade 6 — — — — — — — — — Grade 7 — — — 28 — 339 202 — 569 Total $ 2,470 $ 5,261 $ 4,799 $ 1,670 $ 1,753 $ 3,575 $ 93,126 $ 1,669 $ 114,323 Retail & other Grades 1-4 $ 5,090 $ 6,205 $ 2,403 $ 1,869 $ 941 $ 1,522 $ 11,782 $ — $ 29,812 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 5,090 $ 6,205 $ 2,403 $ 1,869 $ 941 $ 1,522 $ 11,782 $ — $ 29,812 Total loans $ 589,200 $ 469,044 $ 334,235 $ 292,819 $ 185,993 $ 602,753 $ 345,788 $ 1,669 $ 2,821,501 (a) For purposes of this table, the $329 million net carrying value of PPP loans were originated in 2020, have a Pass risk grade (Grades 1-4) and have been included with the Commercial & industrial loan category. The following tables present total loans by risk categories. June 30, 2020 (in thousands) Grades 1- 4 Grade 5 Grade 6 Grade 7 Total Commercial & industrial $ 667,617 $ 35,038 $ 10,740 $ 15,869 $ 729,264 PPP loans 329,157 — — — 329,157 Owner-occupied CRE 464,371 16,745 2,470 12,136 495,722 Agricultural 83,950 7,098 720 7,252 99,020 CRE investment 435,099 8,242 1,671 2,888 447,900 Construction & land development 102,281 2,989 1,100 907 107,277 Residential construction 50,962 370 — — 51,332 Residential first mortgage 410,666 4,863 — 2,165 417,694 Residential junior mortgage 113,721 33 — 569 114,323 Retail & other 29,812 — — — 29,812 Total loans $ 2,687,636 $ 75,378 $ 16,701 $ 41,786 $ 2,821,501 Percent of total 95.2 % 2.7 % 0.6 % 1.5 % 100.0 % December 31, 2019 (in thousands) Grades 1- 4 Grade 5 Grade 6 Grade 7 Total Commercial & industrial $ 765,073 $ 20,199 $ 7,663 $ 13,254 $ 806,189 Owner-occupied CRE 464,661 20,855 953 9,903 496,372 Agricultural 77,082 6,785 3,275 8,308 95,450 CRE investment 430,794 8,085 2,578 1,761 443,218 Construction & land development 90,523 2,213 15 219 92,970 Residential construction 53,286 1,117 — — 54,403 Residential first mortgage 424,044 4,677 668 2,778 432,167 Residential junior mortgage 122,249 35 — 487 122,771 Retail & other 30,210 — — 1 30,211 Total loans $ 2,457,922 $ 63,966 $ 15,152 $ 36,711 $ 2,573,751 Percent of total 95.5 % 2.5 % 0.6 % 1.4 % 100.0 %

Goodwill and Other Intangible_2

Goodwill and Other Intangibles and Mortgage Servicing Rights (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill and intangible assets	A summary of goodwill and other intangibles was as follows. Six Months Ended Year Ended (in thousands) June 30, 2020 December 31, 2019 Goodwill $ 151,198 $ 151,198 Core deposit intangibles 9,278 10,897 Customer list intangibles 3,618 3,872 Other intangibles 12,896 14,769 Goodwill and other intangibles, net $ 164,094 $ 165,967
Schedule of goodwill	A summary of goodwill was as follows. During 2019, goodwill increased due to the Choice acquisition. See Note 2 for additional information on the Company's acquisitions. Six Months Ended Year Ended (in thousands) June 30, 2020 December 31, 2019 Goodwill: Goodwill at beginning of year $ 151,198 $ 107,366 Acquisition — 44,594 Impairment — (762) Goodwill at end of period $ 151,198 $ 151,198
Schedule of other intangible assets	Six Months Ended Year Ended (in thousands) June 30, 2020 December 31, 2019 Core deposit intangibles: Gross carrying amount $ 30,715 $ 30,715 Accumulated amortization (21,437) (19,818) Net book value $ 9,278 $ 10,897 Additions during the period $ — $ 1,700 Amortization during the period $ 1,619 $ 3,365 Customer list intangibles: Gross carrying amount $ 5,523 $ 5,523 Accumulated amortization (1,905) (1,651) Net book value $ 3,618 $ 3,872 Additions during the period $ — $ — Amortization during the period $ 254 $ 507
Schedule of mortgage servicing rights	A summary of the changes in the mortgage servicing rights asset was as follows. Six Months Ended Year Ended (in thousands) June 30, 2020 December 31, 2019 Mortgage servicing rights ("MSR") asset: MSR asset at beginning of year $ 5,919 $ 3,749 Capitalized MSR 2,250 2,876 MSR asset acquired — 160 Amortization during the period (604) (866) MSR asset at end of period $ 7,565 $ 5,919 Valuation allowance at beginning of year $ — $ — Additions (400) — Valuation allowance at end of period $ (400) $ — MSR asset, net $ 7,165 $ 5,919 Fair value of MSR asset at end of period $ 8,979 $ 8,420 Residential mortgage loans serviced for others $ 1,010,118 $ 847,756 Net book value of MSR asset to loans serviced for others 0.71 % 0.70 %
Schedule of estimated future amortization expense for amortizing intangible assets and the MSR asset	The following table shows the estimated future amortization expense for amortizing intangible assets and the MSR asset. The projections are based on existing asset balances, the current interest rate environment and prepayment speeds as of June 30, 2020. The actual amortization expense the Company recognizes in any given period may be significantly different depending upon acquisition or sale activities, changes in interest rates, prepayment speeds, market conditions, regulatory requirements and events or circumstances that indicate the carrying amount of an asset may not be recoverable. (in thousands) Core deposit Customer list MSR asset Year ending December 31, 2020 (remaining six months) $ 1,374 $ 253 $ 653 2021 2,453 507 1,139 2022 1,987 507 1,131 2023 1,490 483 1,365 2024 1,010 449 658 2025 573 449 658 Thereafter 391 970 1,961 Total $ 9,278 $ 3,618 $ 7,565

Short and Long-Term Borrowings

Short and Long-Term Borrowings (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of components of long-term borrowings	The components of long-term borrowings (borrowing with an original maturity greater than one year) were as follows. (in thousands) June 30, 2020 December 31, 2019 PPP Liquidity Facility (“PPPLF”) $ 335,981 $ — FHLB advances 39,030 25,061 Junior subordinated debentures 30,815 30,575 Subordinated notes 12,000 11,993 Total long-term borrowings $ 417,826 $ 67,629
Schedule of junior subordinated debentures	Junior Subordinated Debentures June 30, 2020 December 31, 2019 (in thousands) Maturity Par Unamortized Carrying Carrying 2004 Nicolet Bankshares Statutory Trust (1) 7/15/2034 $ 6,186 $ — $ 6,186 $ 6,186 2005 Mid-Wisconsin Financial Services, Inc. (2) 12/15/2035 10,310 (3,072) 7,238 7,138 2006 Baylake Corp. (3) 9/30/2036 16,598 (3,765) 12,833 12,715 2004 First Menasha Bancshares, Inc. (4) 3/17/2034 5,155 (597) 4,558 4,536 Total $ 38,249 $ (7,434) $ 30,815 $ 30,575 (1) The interest rate is 8.00% fixed. (2) The debentures, assumed in April 2013 as the result of an acquisition, have a floating rate of the three-month LIBOR plus 1.43%, adjusted quarterly. The interest rates were 1.74% and 3.32% as of June 30, 2020 and December 31, 2019, respectively. (3) The debentures, assumed in April 2016 as a result of an acquisition, have a floating rate of the three-month LIBOR plus 1.35%, adjusted quarterly. The interest rates were 1.66% and 3.31% as of June 30, 2020 and December 31, 2019, respectively. (4) The debentures, assumed in April 2017 as the result of an acquisition, have a floating rate of the three-month LIBOR plus 2.79%, adjusted quarterly. The interest rates were 3.09% and 4.69% as of June 30, 2020 and December 31, 2019, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	The following table presents the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Recurring Basis: Total Level 1 Level 2 Level 3 June 30, 2020 U.S. government agency securities $ 63,850 $ — $ 63,850 $ — State, county and municipals 166,498 — 166,498 — Mortgage-backed securities 196,896 — 196,896 — Corporate debt securities 83,565 — 80,435 3,130 Securities AFS $ 510,809 $ — $ 507,679 $ 3,130 Other investments (equity securities) $ 3,213 $ 3,213 $ — $ — December 31, 2019 U.S. government agency securities $ 16,460 $ — $ 16,460 $ — State, county and municipals 156,393 — 156,393 — Mortgage-backed securities 195,018 — 195,018 — Corporate debt securities 81,431 — 78,301 3,130 Securities AFS $ 449,302 $ — $ 446,172 $ 3,130 Other investments (equity securities) $ 3,375 $ 3,375 $ — $ —
Schedule of changes in the Level 3 securities AFS measured at fair value on a recurring basis	The following table presents the changes in the Level 3 securities AFS measured at fair value on a recurring basis. (in thousands) Six Months Ended Year Ended Level 3 Fair Value Measurements: June 30, 2020 December 31, 2019 Balance at beginning of year $ 3,130 $ 8,490 Acquired balance — 300 Paydowns/Sales/Settlements — (5,660) Balance at end of period $ 3,130 $ 3,130
Schedule of assets measured at fair value on a nonrecurring basis	The following table presents the Company’s assets measured at fair value on a nonrecurring basis, aggregated by level in the fair value hierarchy within which those measurements fall. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Nonrecurring Basis: Total Level 1 Level 2 Level 3 June 30, 2020 Collateral dependent loans $ 7,776 $ — $ — $ 7,776 Other real estate owned (“OREO”) 1,000 — — 1,000 MSR asset 8,979 — — 8,979 December 31, 2019 Impaired loans $ 16,150 $ — $ — $ 16,150 OREO 1,000 — — 1,000 MSR asset 8,420 — — 8,420
Schedule of estimated fair values of financial instruments	The carrying amounts and estimated fair values of the Company’s financial instruments are shown below. June 30, 2020 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 822,684 $ 822,684 $ 822,684 $ — $ — Certificates of deposit in other banks 17,809 17,825 — 17,825 — Securities AFS 510,809 510,809 — 507,679 3,130 Other investments, including equity securities 26,375 26,375 3,213 19,299 3,863 Loans held for sale 21,832 22,377 — 22,377 — Loans, net 2,792,371 2,878,986 — — 2,878,986 BOLI 78,953 78,953 78,953 — — MSR asset 7,165 8,979 — — 8,979 Financial liabilities: Deposits $ 3,537,805 $ 3,545,764 $ — $ — $ 3,545,764 Short-term borrowings — — — — — Long-term borrowings 417,826 417,905 — 375,707 42,198 December 31, 2019 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 182,059 $ 182,059 $ 182,059 $ — $ — Certificates of deposit in other banks 19,305 19,310 — 19,310 — Securities AFS 449,302 449,302 — 446,172 3,130 Other investments, including equity securities 24,072 24,072 3,375 16,759 3,938 Loans held for sale 2,706 2,753 — 2,753 — Loans, net 2,559,779 2,593,110 — — 2,593,110 BOLI 78,140 78,140 78,140 — — MSR asset 5,919 8,420 — — 8,420 Financial liabilities: Deposits $ 2,954,453 $ 2,956,229 $ — $ — $ 2,956,229 Long-term borrowings 67,629 66,816 — 25,075 41,741

Basis of Presentation (Details)

Basis of Presentation (Details) - Accounting Standards Update 2016-13 $ in Thousands	Jan. 01, 2020USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment of adoption of ASU 2016-13	$ (6,175)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment of adoption of ASU 2016-13	$ (6,175)

Acquisitions (Details)

Acquisitions (Details) $ / shares in Units, $ in Thousands	May 18, 2020USD ($)	Nov. 08, 2019USD ($)$ / sharesshares	Jun. 30, 2020USD ($)Branch	Dec. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Nov. 07, 2019	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Acquisition			$ 0	$ 44,594
Assets			4,541,228	3,577,260
Deposits			3,537,805	2,954,453
Equity			532,853	$ 516,990	$ 511,740		$ 412,148	$ 399,593	$ 387,352
Commerce Financial Holdings, Inc.
Business Acquisition [Line Items]
Common stock surrendered	$ 100
Commerce Financial Holdings, Inc.
Business Acquisition [Line Items]
Termination costs	$ 500
Merger Agreement | Choice Bancorp Inc.
Business Acquisition [Line Items]
Common stock issued for consideration (in shares) | shares		1,184,102
Number of common stock for each outstanding share of common stock		0.00497
Value of common stock issued for consideration		$ 79,800
Price per share for stock issued in consideration (in dollars per share) | $ / shares		$ 67.39
Value of cash consideration		$ 1,700
Direct stock issuance costs for the merger charged against additional paid in capital		200
Amount of addition in assets		457,000
Amount of addition in loans		348,000
Amount of addition in deposits		289,000
Acquisition		45,000
Merger Agreement | Choice Bancorp Inc. | Core deposit intangibles
Business Acquisition [Line Items]
Intangible assets assumed		$ 1,700
Choice Bancorp Inc.
Business Acquisition [Line Items]
Percentage of assets represented by acquiree						0.12
Advantage Community Bancshares, Inc.
Business Acquisition [Line Items]
Assets			160,000
Loans			89,000
Deposits			135,000
Equity			$ 21,000
Number Of Branches | Branch			4

Earnings per Common Share - Cal

Earnings per Common Share - Calculations for basic and diluted earnings (loss) per common share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income attributable to Nicolet Bankshares, Inc.	$ 13,478	$ 18,549	$ 24,033	$ 28,816
Weighted average common shares outstanding (in shares)	10,417,226	9,374,348	10,466,590	9,417,676
Effect of dilutive common stock awards (in shares)	103,000	318,000	192,000	293,000
Diluted weighted average common shares outstanding (in shares)	10,519,739	9,692,378	10,659,318	9,710,827
Basic earnings per common share (in dollars per share)	$ 1.29	$ 1.98	$ 2.30	$ 3.06
Diluted earnings per common share (in dollars per share)	$ 1.28	$ 1.91	$ 2.25	$ 2.97

Earnings per Common Share - Nar

Earnings per Common Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Shares excluded from calculation of earnings per common share (in shares)	0.2	0.1	0.1	0.1

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares were available for grant under two plans (in shares)	1,400,000
Shares surrendered to the Company (in shares)	17,699
Numbers of shares surrendered (in shares)	1,407
Stock-based employee compensation	$ 2.6	$ 2.2
Unrecognized compensation cost	$ 11.6
Remaining vesting period over which cost expected to be recognized	3 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 1.9	5
Tax benefit for impact of share based compensation	$ 0.3	0.9
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grant (in shares)	10,450
Restricted Stock | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation	$ 0.4	$ 0.3
Restricted stock grant (in shares)	7,950	4,257

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted average assumptions (Details) - Stock Incentive Plan - Stock Options - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected volatility	25.00%	25.00%
Risk-free interest rate	1.67%	2.37%
Expected average life (in years)	7 years	7 years
Weighted average per share fair value of options (in usd per share)	$ 21.83	$ 19.23

Stock-Based Compensation - Acti

Stock-Based Compensation - Activity of stock incentive plans for options (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Option Shares Outstanding
Forfeited (in shares)	(17,699)
Stock Incentive Plan | Stock Options
Option Shares Outstanding
Beginning balance outstanding (in shares)	1,443,733
Granted (in shares)	39,500
Exercise of stock options (in shares)	(43,552)
Forfeited (in shares)	0
Ending balance outstanding (in shares)	1,439,681
Exercisable (in shares)	726,931
Weighted Average Exercise Price
Beginning balance outstanding (in usd per share) | $ / shares	$ 48.75
Granted (in usd per share) | $ / shares	71.89
Exercise of stock options (in usd per share) | $ / shares	23.07
Forfeited (in usd per share) | $ / shares	0
Ending balance outstanding (in usd per share) | $ / shares	50.16
Exercisable (in usd per share) | $ / shares	$ 44.59
Weighted average remaining life outstanding (in years)	7 years 1 month 6 days
Weighted average remaining life exercisable (in years)	6 years 4 months 24 days
Aggregate intrinsic value outstanding | $	$ 10,601
Aggregate intrinsic value exercisable | $	$ 7,527

Stock-Based Compensation - Ac_2

Stock-Based Compensation - Activity of restricted stock awards (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Weighted-Average Grant Date Fair Value
Beginning balance outstanding (in usd per share) | $ / shares	$ 44.94
Granted (in usd per share) | $ / shares	55.52
Vested (in usd per share) | $ / shares	43.66
Forfeited (in usd per share) | $ / shares	0
Ending balance outstanding (in usd per share) | $ / shares	$ 51.55
Restricted Shares Outstanding
Beginning balance outstanding (in shares) | shares	22,521
Granted (in shares) | shares	10,450
Vested (in shares) | shares	(13,615)
Forfeited (in shares) | shares	0
Ending balance outstanding (in shares) | shares	19,356

Securities Available for Sale -

Securities Available for Sale - Amortized costs and fair values of debt securities available for sale (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 492,606	$ 443,249
Gross Unrealized Gains	18,215	6,967
Gross Unrealized Losses	12	914
Fair Value	$ 510,809	$ 449,302
Fair Value as % of Total	100.00%	100.00%
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 63,512	$ 16,516
Gross Unrealized Gains	338	4
Gross Unrealized Losses	0	60
Fair Value	$ 63,850	$ 16,460
Fair Value as % of Total	12.00%	4.00%
State, county and municipals
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 162,239	$ 155,501
Gross Unrealized Gains	4,261	1,049
Gross Unrealized Losses	2	157
Fair Value	$ 166,498	$ 156,393
Fair Value as % of Total	33.00%	35.00%
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 188,819	$ 193,223
Gross Unrealized Gains	8,087	2,492
Gross Unrealized Losses	10	697
Fair Value	$ 196,896	$ 195,018
Fair Value as % of Total	39.00%	43.00%
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 78,036	$ 78,009
Gross Unrealized Gains	5,529	3,422
Gross Unrealized Losses	0	0
Fair Value	$ 83,565	$ 81,431
Fair Value as % of Total	16.00%	18.00%

Securities Available for Sale_2

Securities Available for Sale - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2020
Debt Securities, Available-for-sale [Abstract]
Securities AFS pledged as collateral	$ 166,000,000	$ 156,000,000
Debt Securities, Available-for-sale [Line Items]
Allowance for credit loss on securities AFS		0
Other-than-temporary impairment losses charged to earnings	0
Available-for-sale Securities
Debt Securities, Available-for-sale [Line Items]
Interest receivable	$ 2,200,000	$ 2,100,000

Securities Available for Sale_3

Securities Available for Sale - Gross unrealized losses and the related fair value of securities available for sale (Details) $ in Thousands	Jun. 30, 2020USD ($)Security	Dec. 31, 2019USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	$ 2,211	$ 73,112
Less than 12 months, unrealized losses	3	379
12 months or more, fair value	762	65,967
12 months or more, unrealized losses	9	535
Total, fair value	2,973	139,079
Total, unrealized losses	$ 12	$ 914
Total, number of securities | Security	25	212
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value		$ 1,035
Less than 12 months, unrealized losses		2
12 months or more, fair value		11,091
12 months or more, unrealized losses		58
Total, fair value		12,126
Total, unrealized losses		$ 60
Total, number of securities | Security		6
State, county and municipals
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	$ 882	$ 22,451
Less than 12 months, unrealized losses	2	132
12 months or more, fair value	0	7,605
12 months or more, unrealized losses	0	25
Total, fair value	882	30,056
Total, unrealized losses	$ 2	$ 157
Total, number of securities | Security	2	56
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	$ 1,329	$ 49,626
Less than 12 months, unrealized losses	1	245
12 months or more, fair value	762	47,271
12 months or more, unrealized losses	9	452
Total, fair value	2,091	96,897
Total, unrealized losses	$ 10	$ 697
Total, number of securities | Security	23	150

Securities Available for Sale_4

Securities Available for Sale - Amortized cost and fair values of securities available for sale at by contractual maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Amortized Cost
Due in less than one year	$ 28,148
Due in one year through five years	217,289
Due after five years through ten years	42,898
Due after ten years	15,452
Single maturity date, amortized cost	303,787
Amortized Cost	492,606	$ 443,249
Fair Value
Due in less than one year	28,294
Due in one year through five years	224,722
Due after five years through ten years	44,561
Due after ten years	16,336
Single maturity date, fair value	313,913
Fair Value	510,809	449,302
Mortgage-backed securities
Amortized Cost
Without single maturity date, amortized cost	188,819
Amortized Cost	188,819	193,223
Fair Value
Without single maturity date, fair value	196,896
Fair Value	$ 196,896	$ 195,018

Securities Available for Sale_5

Securities Available for Sale - Proceeds from the sale of securities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Debt Securities, Available-for-sale [Abstract]
Gross gains	$ 164	$ 152
Gross losses	0	(120)
Gains (losses) on sales of securities AFS, net	164	32
Proceeds from sales of securities AFS	$ 9,232	$ 13,240

Loans, Allowance for Credit L_3

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Summary of loan composition (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 2,821,501	$ 2,573,751
Less allowance for credit losses - Loans (“ACL-Loans”)	29,130	13,972	$ 13,571	$ 13,153
Loans, net	$ 2,792,371	$ 2,559,779
Percent of total	100.00%	100.00%
Allowance for credit losses - Loans to loans	1.03%	0.54%
Retail & other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 29,812	$ 30,211
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 531	$ 344		304
Percent of total	1.00%	1.00%
Commercial portfolio segment | Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 729,264	$ 806,189
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 10,203	$ 5,471		5,271
Percent of total	26.00%	31.00%
Commercial portfolio segment | Paycheck Protection Program (“PPP”) loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 329,157	$ 0
Percent of total	12.00%	0.00%
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 495,722	$ 496,372
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 5,178	$ 3,010		2,847
Percent of total	17.00%	19.00%
Commercial portfolio segment | Agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 99,020	$ 95,450
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 1,339	$ 579		422
Percent of total	3.00%	4.00%
Commercial real estate portfolio segment | CRE investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 447,900	$ 443,218
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 5,092	$ 1,600		1,470
Percent of total	16.00%	17.00%
Commercial real estate portfolio segment | Construction & land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 107,277	$ 92,970
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 790	$ 414		510
Percent of total	4.00%	4.00%
Residential | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 51,332	$ 54,403
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 513	$ 368		211
Percent of total	2.00%	2.00%
Residential | Residential first mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 417,694	$ 432,167
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 4,307	$ 1,669		1,646
Percent of total	15.00%	17.00%
Residential | Residential junior mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 114,323	$ 122,771
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 1,177	$ 517		$ 472
Percent of total	4.00%	5.00%

Loans, Allowance for Credit L_4

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Narrative (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)Loan	Dec. 31, 2019USD ($)Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Material loans criteria for ALLL adequacy calculation	$ 250,000
Number of loans classified as troubled debt | Loan	5	5
Troubled debt restructuring current outstanding balance	$ 1,100,000	$ 1,100,000
Pre-modification balance	1,700,000	1,400,000
Financing receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest receivable	$ 9,000,000	$ 7,000,000

Loans, Allowance for Credit L_5

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Summary of allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance			$ 13,972	$ 13,153	$ 13,153
Provision for credit losses	$ 3,000	$ 300	6,000	500	1,200
Charge-offs			(216)	(232)	(927)
Recoveries			89	150	546
Net (charge-offs) recoveries			(127)	(82)	(381)
Ending balance	$ 29,130	$ 13,571	29,130	$ 13,571	13,972
Adoption of CECL
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance			8,488
Ending balance					8,488
Initial PCD ACL
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance			797
Ending balance					797
Total impact for adoption of CECL
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance			$ 9,285
Ending balance					$ 9,285

Loans, Allowance for Credit L_6

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Summary of changes in ACL-Loans by portfolio segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
ACL-Loans
Beginning balance			$ 13,972	$ 13,153	$ 13,153
Provision	$ 3,000	$ 300	6,000	500	1,200
Charge-offs			(216)	(232)	(927)
Recoveries			89	150	546
Net (charge-offs) recoveries			(127)	(82)	(381)
Ending balance	29,130	$ 13,571	$ 29,130	13,571	$ 13,972
As % of ACL-Loans			100.00%		100.00%
Retail & other
ACL-Loans
Beginning balance			$ 344	304	$ 304
Provision			142		338
Charge-offs			(99)		(347)
Recoveries			10		49
Net (charge-offs) recoveries			(89)		(298)
Ending balance	531		$ 531		$ 344
As % of ACL-Loans			2.00%		2.00%
Commercial portfolio segment | Commercial & industrial
ACL-Loans
Beginning balance			$ 5,471	5,271	$ 5,271
Provision			1,010		(61)
Charge-offs			(97)		(159)
Recoveries			60		420
Net (charge-offs) recoveries			(37)		261
Ending balance	10,203		$ 10,203		$ 5,471
As % of ACL-Loans			35.00%		39.00%
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”)
ACL-Loans
Beginning balance			$ 3,010	2,847	$ 2,847
Provision			919		254
Charge-offs			0		(93)
Recoveries			0		2
Net (charge-offs) recoveries			0		(91)
Ending balance	5,178		$ 5,178		$ 3,010
As % of ACL-Loans			18.00%		22.00%
Commercial portfolio segment | Agricultural
ACL-Loans
Beginning balance			$ 579	422	$ 422
Provision			399		157
Charge-offs			0		0
Recoveries			0		0
Net (charge-offs) recoveries			0		0
Ending balance	1,339		$ 1,339		$ 579
As % of ACL-Loans			4.00%		4.00%
Commercial real estate portfolio segment | CRE investment
ACL-Loans
Beginning balance			$ 1,600	1,470	$ 1,470
Provision			1,542		130
Charge-offs			(20)		0
Recoveries			0		0
Net (charge-offs) recoveries			(20)		0
Ending balance	5,092		$ 5,092		$ 1,600
As % of ACL-Loans			17.00%		11.00%
Commercial real estate portfolio segment | Construction & land development
ACL-Loans
Beginning balance			$ 414	510	$ 510
Provision			325		(96)
Charge-offs			0		0
Recoveries			0		0
Net (charge-offs) recoveries			0		0
Ending balance	790		$ 790		$ 414
As % of ACL-Loans			3.00%		3.00%
Residential | Residential first mortgage
ACL-Loans
Beginning balance			$ 1,669	1,646	$ 1,646
Provision			1,348		9
Charge-offs			0		(22)
Recoveries			4		36
Net (charge-offs) recoveries			4		14
Ending balance	4,307		$ 4,307		$ 1,669
As % of ACL-Loans			15.00%		12.00%
Residential | Residential junior mortgage
ACL-Loans
Beginning balance			$ 517	472	$ 472
Provision			294		86
Charge-offs			0		(80)
Recoveries			15		39
Net (charge-offs) recoveries			15		(41)
Ending balance	1,177		$ 1,177		$ 517
As % of ACL-Loans			4.00%		4.00%
Residential | Residential construction
ACL-Loans
Beginning balance			$ 368	$ 211	$ 211
Provision			21		383
Charge-offs			0		(226)
Recoveries			0		0
Net (charge-offs) recoveries			0		(226)
Ending balance	$ 513		$ 513		$ 368
As % of ACL-Loans			2.00%		3.00%
Adoption of CECL
ACL-Loans
Beginning balance			$ 8,488
Ending balance					$ 8,488
Adoption of CECL | Retail & other
ACL-Loans
Beginning balance			134
Ending balance					134
Adoption of CECL | Commercial portfolio segment | Commercial & industrial
ACL-Loans
Beginning balance			2,962
Ending balance					2,962
Adoption of CECL | Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”)
ACL-Loans
Beginning balance			1,249
Ending balance					1,249
Adoption of CECL | Commercial portfolio segment | Agricultural
ACL-Loans
Beginning balance			361
Ending balance					361
Adoption of CECL | Commercial real estate portfolio segment | CRE investment
ACL-Loans
Beginning balance			1,970
Ending balance					1,970
Adoption of CECL | Commercial real estate portfolio segment | Construction & land development
ACL-Loans
Beginning balance			51
Ending balance					51
Adoption of CECL | Residential | Residential first mortgage
ACL-Loans
Beginning balance			1,286
Ending balance					1,286
Adoption of CECL | Residential | Residential junior mortgage
ACL-Loans
Beginning balance			351
Ending balance					351
Adoption of CECL | Residential | Residential construction
ACL-Loans
Beginning balance			124
Ending balance					124
Initial PCD ACL
ACL-Loans
Beginning balance			797
Ending balance					797
Initial PCD ACL | Retail & other
ACL-Loans
Beginning balance			0
Ending balance					0
Initial PCD ACL | Commercial portfolio segment | Commercial & industrial
ACL-Loans
Beginning balance			797
Ending balance					797
Initial PCD ACL | Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”)
ACL-Loans
Beginning balance			0
Ending balance					0
Initial PCD ACL | Commercial portfolio segment | Agricultural
ACL-Loans
Beginning balance			0
Ending balance					0
Initial PCD ACL | Commercial real estate portfolio segment | CRE investment
ACL-Loans
Beginning balance			0
Ending balance					0
Initial PCD ACL | Commercial real estate portfolio segment | Construction & land development
ACL-Loans
Beginning balance			0
Ending balance					0
Initial PCD ACL | Residential | Residential first mortgage
ACL-Loans
Beginning balance			0
Ending balance					0
Initial PCD ACL | Residential | Residential junior mortgage
ACL-Loans
Beginning balance			0
Ending balance					0
Initial PCD ACL | Residential | Residential construction
ACL-Loans
Beginning balance			$ 0
Ending balance					$ 0

Loans, Allowance for Credit L_7

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Collateral dependent loans by portfolio segment (Details) $ in Thousands	Jun. 30, 2020USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 9,155
Without an Allowance	3,282
With an Allowance	5,873
Allowance Allocation	1,379
Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,632
Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,523
Retail & other
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Without an Allowance	0
With an Allowance	0
Allowance Allocation	0
Retail & other | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Retail & other | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Commercial portfolio segment | Commercial & industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,688
Without an Allowance	0
With an Allowance	3,688
Allowance Allocation	1,231
Commercial portfolio segment | Commercial & industrial | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Commercial portfolio segment | Commercial & industrial | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,688
Commercial portfolio segment | PPP loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Without an Allowance	0
With an Allowance	0
Allowance Allocation	0
Commercial portfolio segment | PPP loans | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Commercial portfolio segment | PPP loans | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	2,524
Without an Allowance	339
With an Allowance	2,185
Allowance Allocation	148
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”) | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	2,524
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”) | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Commercial portfolio segment | Agricultural
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	1,435
Without an Allowance	1,435
With an Allowance	0
Allowance Allocation	0
Commercial portfolio segment | Agricultural | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	600
Commercial portfolio segment | Agricultural | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	835
Commercial real estate portfolio segment | CRE investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	975
Without an Allowance	975
With an Allowance	0
Allowance Allocation	0
Commercial real estate portfolio segment | CRE investment | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	975
Commercial real estate portfolio segment | CRE investment | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Commercial real estate portfolio segment | Construction & land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	533
Without an Allowance	533
With an Allowance	0
Allowance Allocation	0
Commercial real estate portfolio segment | Construction & land development | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	533
Commercial real estate portfolio segment | Construction & land development | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Residential | Residential construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Without an Allowance	0
With an Allowance	0
Allowance Allocation	0
Residential | Residential construction | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Residential | Residential construction | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Residential | Residential first mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Without an Allowance	0
With an Allowance	0
Allowance Allocation	0
Residential | Residential first mortgage | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Residential | Residential first mortgage | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Residential | Residential junior mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Without an Allowance	0
With an Allowance	0
Allowance Allocation	0
Residential | Residential junior mortgage | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Residential | Residential junior mortgage | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 0

Loans, Allowance for Credit L_8

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Impaired loans by portfolio segment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 16,891
Unpaid Principal Balance	20,300
Related Allowance	741
Average Recorded Investment	16,998
Interest Income Recognized	2,063
Retail & other
Financing Receivable, Impaired [Line Items]
Recorded Investment	12
Unpaid Principal Balance	12
Related Allowance	0
Average Recorded Investment	12
Interest Income Recognized	0
Commercial portfolio segment | Commercial & industrial
Financing Receivable, Impaired [Line Items]
Recorded Investment	5,932
Unpaid Principal Balance	7,950
Related Allowance	625
Average Recorded Investment	5,405
Interest Income Recognized	1,170
Commercial portfolio segment | Owner-occupied CRE
Financing Receivable, Impaired [Line Items]
Recorded Investment	3,430
Unpaid Principal Balance	4,016
Related Allowance	0
Average Recorded Investment	3,677
Interest Income Recognized	256
Commercial portfolio segment | Agricultural
Financing Receivable, Impaired [Line Items]
Recorded Investment	2,134
Unpaid Principal Balance	2,172
Related Allowance	116
Average Recorded Investment	2,311
Interest Income Recognized	37
Commercial real estate portfolio segment | CRE investment
Financing Receivable, Impaired [Line Items]
Recorded Investment	2,426
Unpaid Principal Balance	2,790
Related Allowance	0
Average Recorded Investment	2,497
Interest Income Recognized	364
Commercial real estate portfolio segment | Construction & land development
Financing Receivable, Impaired [Line Items]
Recorded Investment	382
Unpaid Principal Balance	382
Related Allowance	0
Average Recorded Investment	460
Interest Income Recognized	0
Residential | Residential construction
Financing Receivable, Impaired [Line Items]
Recorded Investment	0
Unpaid Principal Balance	0
Related Allowance	0
Average Recorded Investment	0
Interest Income Recognized	0
Residential | Residential first mortgage
Financing Receivable, Impaired [Line Items]
Recorded Investment	2,357
Unpaid Principal Balance	2,629
Related Allowance	0
Average Recorded Investment	2,412
Interest Income Recognized	178
Residential | Residential junior mortgage
Financing Receivable, Impaired [Line Items]
Recorded Investment	218
Unpaid Principal Balance	349
Related Allowance	0
Average Recorded Investment	224
Interest Income Recognized	$ 58

Loans, Allowance for Credit L_9

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Summary of loans by past due status (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Current	$ 2,808,051	$ 2,552,360
Total	$ 2,821,501	$ 2,573,751
Percent of current loans	99.50%	99.20%
Percent of total loans	100.00%	100.00%
30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	$ 1,452	$ 7,269
Percent past due	0.10%	0.30%
90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	$ 11,998	$ 14,122
Percent past due	0.40%	0.50%
Retail & other
Financing Receivable, Past Due [Line Items]
Current	$ 29,727	$ 30,100
Total	29,812	30,211
Retail & other | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	85	110
Retail & other | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	0	1
Commercial portfolio segment | Commercial & industrial
Financing Receivable, Past Due [Line Items]
Current	724,960	798,211
Total	729,264	806,189
Commercial portfolio segment | Commercial & industrial | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	162	1,729
Commercial portfolio segment | Commercial & industrial | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	4,142	6,249
Commercial portfolio segment | PPP loans
Financing Receivable, Past Due [Line Items]
Current	329,157
Total	329,157	0
Commercial portfolio segment | PPP loans | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	0
Commercial portfolio segment | PPP loans | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	0
Commercial portfolio segment | Owner-occupied CRE
Financing Receivable, Past Due [Line Items]
Current	492,646	492,949
Total	495,722	496,372
Commercial portfolio segment | Owner-occupied CRE | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	71	112
Commercial portfolio segment | Owner-occupied CRE | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	3,005	3,311
Commercial portfolio segment | Agricultural
Financing Receivable, Past Due [Line Items]
Current	97,274	93,552
Total	99,020	95,450
Commercial portfolio segment | Agricultural | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	35	0
Commercial portfolio segment | Agricultural | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	1,711	1,898
Commercial real estate portfolio segment | CRE investment
Financing Receivable, Past Due [Line Items]
Current	446,925	442,145
Total	447,900	443,218
Commercial real estate portfolio segment | CRE investment | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	0	0
Commercial real estate portfolio segment | CRE investment | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	975	1,073
Commercial real estate portfolio segment | Construction & land development
Financing Receivable, Past Due [Line Items]
Current	106,548	90,887
Total	107,277	92,970
Commercial real estate portfolio segment | Construction & land development | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	196	2,063
Commercial real estate portfolio segment | Construction & land development | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	533	20
Residential | Residential construction
Financing Receivable, Past Due [Line Items]
Current	50,783	54,101
Total	51,332	54,403
Residential | Residential construction | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	549	302
Residential | Residential construction | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	0	0
Residential | Residential first mortgage
Financing Receivable, Past Due [Line Items]
Current	416,273	428,341
Total	417,694	432,167
Residential | Residential first mortgage | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	354	2,736
Residential | Residential first mortgage | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	1,067	1,090
Residential | Residential junior mortgage
Financing Receivable, Past Due [Line Items]
Current	113,758	122,074
Total	114,323	122,771
Residential | Residential junior mortgage | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Past due loans	0	217
Residential | Residential junior mortgage | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Past due loans	$ 565	$ 480

Loans, Allowance for Credit _10

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Nonaccrual loans by portfolio segment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 11,998	$ 14,122
Percent of total	100.00%	100.00%
Percent of total loans	0.40%	0.50%
Retail & other
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 0	$ 1
Percent of total	0.00%	0.00%
Commercial portfolio segment | Commercial & industrial
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 4,142	$ 6,249
Percent of total	35.00%	44.00%
Commercial portfolio segment | PPP loans
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 0	$ 0
Percent of total	0.00%	0.00%
Commercial portfolio segment | Owner-occupied CRE
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 3,005	$ 3,311
Percent of total	25.00%	23.00%
Commercial portfolio segment | Agricultural
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 1,711	$ 1,898
Percent of total	14.00%	14.00%
Commercial real estate portfolio segment | CRE investment
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 975	$ 1,073
Percent of total	8.00%	8.00%
Commercial real estate portfolio segment | Construction & land development
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 533	$ 20
Percent of total	4.00%	0.00%
Residential | Residential construction
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 0	$ 0
Percent of total	0.00%	0.00%
Residential | Residential first mortgage
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 1,067	$ 1,090
Percent of total	9.00%	8.00%
Residential | Residential junior mortgage
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 565	$ 480
Percent of total	5.00%	3.00%

Loans, Allowance for Credit _11

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Summary of loans by loan risk categories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	$ 589,200
Origination Year - 2019	469,044
Origination Year - 2018	334,235
Origination Year - 2017	292,819
Origination Year - 2016	185,993
Origination Year - Prior	602,753
Revolving	345,788
Revolving to Term	1,669
Total	$ 2,821,501	$ 2,573,751
Percent of total	100.00%	100.00%
Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 2,687,636	$ 2,457,922
Percent of total	95.20%	95.50%
Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 75,378	$ 63,966
Percent of total	2.70%	2.50%
Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 16,701	$ 15,152
Percent of total	0.60%	0.60%
Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 41,786	$ 36,711
Percent of total	1.50%	1.40%
Retail & other
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	$ 5,090
Origination Year - 2019	6,205
Origination Year - 2018	2,403
Origination Year - 2017	1,869
Origination Year - 2016	941
Origination Year - Prior	1,522
Revolving	11,782
Revolving to Term	0
Total	29,812	$ 30,211
Retail & other | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	5,090
Origination Year - 2019	6,205
Origination Year - 2018	2,403
Origination Year - 2017	1,869
Origination Year - 2016	941
Origination Year - Prior	1,522
Revolving	11,782
Revolving to Term	0
Total	29,812	30,210
Retail & other | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	0	0
Retail & other | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	0	0
Retail & other | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	0	1
Commercial portfolio segment | Commercial & industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	399,589
Origination Year - 2019	156,822
Origination Year - 2018	119,210
Origination Year - 2017	76,394
Origination Year - 2016	30,818
Origination Year - Prior	67,248
Revolving	208,340
Revolving to Term	0
Total	1,058,421
Commercial portfolio segment | Commercial & industrial | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	397,577
Origination Year - 2019	150,186
Origination Year - 2018	109,524
Origination Year - 2017	68,689
Origination Year - 2016	28,748
Origination Year - Prior	58,379
Revolving	183,671
Revolving to Term	0
Total	996,774
Commercial portfolio segment | Commercial & industrial | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	229
Origination Year - 2019	5,398
Origination Year - 2018	7,778
Origination Year - 2017	625
Origination Year - 2016	1,524
Origination Year - Prior	2,777
Revolving	16,707
Revolving to Term	0
Total	35,038
Commercial portfolio segment | Commercial & industrial | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	51
Origination Year - 2019	23
Origination Year - 2018	796
Origination Year - 2017	5,698
Origination Year - 2016	1
Origination Year - Prior	35
Revolving	4,136
Revolving to Term	0
Total	10,740
Commercial portfolio segment | Commercial & industrial | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	1,732
Origination Year - 2019	1,215
Origination Year - 2018	1,112
Origination Year - 2017	1,382
Origination Year - 2016	545
Origination Year - Prior	6,057
Revolving	3,826
Revolving to Term	0
Total	15,869
Commercial portfolio segment | Commercial & industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	729,264	806,189
Commercial portfolio segment | Commercial & industrial | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Total	667,617	765,073
Commercial portfolio segment | Commercial & industrial | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Total	35,038	20,199
Commercial portfolio segment | Commercial & industrial | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Total	10,740	7,663
Commercial portfolio segment | Commercial & industrial | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Total	15,869	13,254
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	36,065
Origination Year - 2019	68,336
Origination Year - 2018	84,287
Origination Year - 2017	73,477
Origination Year - 2016	51,215
Origination Year - Prior	180,355
Revolving	1,987
Revolving to Term	0
Total	495,722	496,372
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”) | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	36,065
Origination Year - 2019	67,425
Origination Year - 2018	82,360
Origination Year - 2017	62,980
Origination Year - 2016	49,060
Origination Year - Prior	164,982
Revolving	1,499
Revolving to Term	0
Total	464,371	464,661
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”) | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	574
Origination Year - 2018	1,646
Origination Year - 2017	6,572
Origination Year - 2016	379
Origination Year - Prior	7,086
Revolving	488
Revolving to Term	0
Total	16,745	20,855
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”) | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	1,736
Origination Year - 2016	0
Origination Year - Prior	734
Revolving	0
Revolving to Term	0
Total	2,470	953
Commercial portfolio segment | Owner-occupied commercial real estate (“CRE”) | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	337
Origination Year - 2018	281
Origination Year - 2017	2,189
Origination Year - 2016	1,776
Origination Year - Prior	7,553
Revolving	0
Revolving to Term	0
Total	12,136	9,903
Commercial portfolio segment | Agricultural
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	8,786
Origination Year - 2019	5,859
Origination Year - 2018	7,336
Origination Year - 2017	10,713
Origination Year - 2016	4,521
Origination Year - Prior	40,318
Revolving	21,487
Revolving to Term	0
Total	99,020	95,450
Commercial portfolio segment | Agricultural | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	8,766
Origination Year - 2019	5,484
Origination Year - 2018	7,266
Origination Year - 2017	9,697
Origination Year - 2016	2,240
Origination Year - Prior	29,722
Revolving	20,775
Revolving to Term	0
Total	83,950	77,082
Commercial portfolio segment | Agricultural | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	20
Origination Year - 2019	375
Origination Year - 2018	36
Origination Year - 2017	573
Origination Year - 2016	689
Origination Year - Prior	4,772
Revolving	633
Revolving to Term	0
Total	7,098	6,785
Commercial portfolio segment | Agricultural | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	328
Origination Year - 2016	392
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	720	3,275
Commercial portfolio segment | Agricultural | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	34
Origination Year - 2017	115
Origination Year - 2016	1,200
Origination Year - Prior	5,824
Revolving	79
Revolving to Term	0
Total	7,252	8,308
Commercial portfolio segment | PPP loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total	329,157	0
Commercial portfolio segment | PPP loans | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Total	329,157
Commercial portfolio segment | PPP loans | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
Commercial portfolio segment | PPP loans | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
Commercial portfolio segment | PPP loans | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
Commercial real estate portfolio segment | CRE investment
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	42,819
Origination Year - 2019	76,792
Origination Year - 2018	41,687
Origination Year - 2017	71,399
Origination Year - 2016	41,052
Origination Year - Prior	167,803
Revolving	6,348
Revolving to Term	0
Total	447,900	443,218
Commercial real estate portfolio segment | CRE investment | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	42,819
Origination Year - 2019	76,688
Origination Year - 2018	41,581
Origination Year - 2017	69,179
Origination Year - 2016	39,866
Origination Year - Prior	158,663
Revolving	6,303
Revolving to Term	0
Total	435,099	430,794
Commercial real estate portfolio segment | CRE investment | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	106
Origination Year - 2017	1,307
Origination Year - 2016	388
Origination Year - Prior	6,396
Revolving	45
Revolving to Term	0
Total	8,242	8,085
Commercial real estate portfolio segment | CRE investment | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	104
Origination Year - 2018	0
Origination Year - 2017	913
Origination Year - 2016	654
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	1,671	2,578
Commercial real estate portfolio segment | CRE investment | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	144
Origination Year - Prior	2,744
Revolving	0
Revolving to Term	0
Total	2,888	1,761
Commercial real estate portfolio segment | Construction & land development
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	25,720
Origination Year - 2019	41,766
Origination Year - 2018	22,029
Origination Year - 2017	3,487
Origination Year - 2016	2,261
Origination Year - Prior	10,215
Revolving	1,799
Revolving to Term	0
Total	107,277	92,970
Commercial real estate portfolio segment | Construction & land development | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	25,720
Origination Year - 2019	40,447
Origination Year - 2018	19,330
Origination Year - 2017	3,442
Origination Year - 2016	2,261
Origination Year - Prior	9,282
Revolving	1,799
Revolving to Term	0
Total	102,281	90,523
Commercial real estate portfolio segment | Construction & land development | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	219
Origination Year - 2018	2,699
Origination Year - 2017	45
Origination Year - 2016	0
Origination Year - Prior	26
Revolving	0
Revolving to Term	0
Total	2,989	2,213
Commercial real estate portfolio segment | Construction & land development | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	1,100
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	1,100	15
Commercial real estate portfolio segment | Construction & land development | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	907
Revolving	0
Revolving to Term	0
Total	907	219
Residential | Residential construction
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	14,455
Origination Year - 2019	34,859
Origination Year - 2018	1,459
Origination Year - 2017	407
Origination Year - 2016	19
Origination Year - Prior	133
Revolving	0
Revolving to Term	0
Total	51,332	54,403
Residential | Residential construction | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	14,455
Origination Year - 2019	34,545
Origination Year - 2018	1,459
Origination Year - 2017	351
Origination Year - 2016	19
Origination Year - Prior	133
Revolving	0
Revolving to Term	0
Total	50,962	53,286
Residential | Residential construction | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	314
Origination Year - 2018	0
Origination Year - 2017	56
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	370	1,117
Residential | Residential construction | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	0	0
Residential | Residential construction | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	0	0
Residential | Residential first mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	54,206
Origination Year - 2019	73,144
Origination Year - 2018	51,025
Origination Year - 2017	53,403
Origination Year - 2016	53,413
Origination Year - Prior	131,584
Revolving	919
Revolving to Term	0
Total	417,694	432,167
Residential | Residential first mortgage | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	54,206
Origination Year - 2019	71,663
Origination Year - 2018	49,497
Origination Year - 2017	53,126
Origination Year - 2016	52,588
Origination Year - Prior	128,667
Revolving	919
Revolving to Term	0
Total	410,666	424,044
Residential | Residential first mortgage | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	825
Origination Year - 2018	1,331
Origination Year - 2017	258
Origination Year - 2016	760
Origination Year - Prior	1,689
Revolving	0
Revolving to Term	0
Total	4,863	4,677
Residential | Residential first mortgage | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	0	668
Residential | Residential first mortgage | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	656
Origination Year - 2018	197
Origination Year - 2017	19
Origination Year - 2016	65
Origination Year - Prior	1,228
Revolving	0
Revolving to Term	0
Total	2,165	2,778
Residential | Residential junior mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	2,470
Origination Year - 2019	5,261
Origination Year - 2018	4,799
Origination Year - 2017	1,670
Origination Year - 2016	1,753
Origination Year - Prior	3,575
Revolving	93,126
Revolving to Term	1,669
Total	114,323	122,771
Residential | Residential junior mortgage | Grades 1- 4
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	2,470
Origination Year - 2019	5,261
Origination Year - 2018	4,799
Origination Year - 2017	1,642
Origination Year - 2016	1,753
Origination Year - Prior	3,203
Revolving	92,924
Revolving to Term	1,669
Total	113,721	122,249
Residential | Residential junior mortgage | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	33
Revolving	0
Revolving to Term	0
Total	33	35
Residential | Residential junior mortgage | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	0
Origination Year - 2016	0
Origination Year - Prior	0
Revolving	0
Revolving to Term	0
Total	0	0
Residential | Residential junior mortgage | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
Origination Year - 2020	0
Origination Year - 2019	0
Origination Year - 2018	0
Origination Year - 2017	28
Origination Year - 2016	0
Origination Year - Prior	339
Revolving	202
Revolving to Term	0
Total	$ 569	$ 487

Goodwill and Other Intangible_3

Goodwill and Other Intangibles and Mortgage Servicing Rights - Narrative (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charge on goodwill	$ 0	$ 762,000
Mortgage Servicing Rights
Finite-Lived Intangible Assets [Line Items]
Valuation allowance recorded during the period	$ 400,000	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangibles and Mortgage Servicing Rights - Goodwill and other intangibles (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 151,198	$ 151,198	$ 107,366
Other intangibles	12,896	14,769
Goodwill and other intangibles, net	164,094	165,967
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Other intangibles	9,278	10,897
Customer list intangibles:
Finite-Lived Intangible Assets [Line Items]
Other intangibles	$ 3,618	$ 3,872

Goodwill and Other Intangible_5

Goodwill and Other Intangibles and Mortgage Servicing Rights - Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Goodwill:
Goodwill at beginning of year	$ 151,198	$ 107,366
Acquisition	0	44,594
Impairment	0	(762)
Goodwill at end of period	$ 151,198	$ 151,198

Goodwill and Other Intangible_6

Goodwill and Other Intangibles and Mortgage Servicing Rights - Other intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Net book value	$ 12,896		$ 12,896		$ 14,769
Amortization during the period	880	$ 969	1,873	$ 2,022
Core deposit intangibles:
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	30,715		30,715		30,715
Accumulated amortization	(21,437)		(21,437)		(19,818)
Net book value	9,278		9,278		10,897
Additions during the period			0		1,700
Amortization during the period			1,619		3,365
Customer list intangibles:
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,523		5,523		5,523
Accumulated amortization	(1,905)		(1,905)		(1,651)
Net book value	$ 3,618		3,618		3,872
Additions during the period			0		0
Amortization during the period			$ 254		$ 507

Goodwill and Other Intangible_7

Goodwill and Other Intangibles and Mortgage Servicing Rights - Mortgage servicing rights (Details) - Mortgage Servicing Rights - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Mortgage servicing rights ("MSR") asset:
MSR asset at beginning of year	$ 5,919,000	$ 3,749,000
Capitalized MSR	2,250,000	2,876,000
MSR asset acquired	0	160,000
Amortization during the period	(604,000)	(866,000)
MSR asset at end of period	7,565,000	5,919,000
Valuation Allowance:
Valuation allowance at beginning of year	0	0
Additions	(400,000)	0
Valuation allowance at end of period	(400,000)	0
MSR asset, net	7,165,000	5,919,000
Fair value of MSR asset at end of period	8,979,000	8,420,000
Residential mortgage loans serviced for others	$ 1,010,118,000	$ 847,756,000
Net book value of MSR asset to loans serviced for others	0.71%	0.70%

Goodwill and Other Intangible_8

Goodwill and Other Intangibles and Mortgage Servicing Rights - Estimated future amortization expense (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Net book value	$ 12,896	$ 14,769
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
2020 (remaining six months)	1,374
2021	2,453
2022	1,987
2023	1,490
2024	1,010
2025	573
Thereafter	391
Net book value	9,278	10,897
Customer list intangibles
Finite-Lived Intangible Assets [Line Items]
2020 (remaining six months)	253
2021	507
2022	507
2023	483
2024	449
2025	449
Thereafter	970
Net book value	3,618	$ 3,872
MSR asset
Finite-Lived Intangible Assets [Line Items]
2020 (remaining six months)	653
2021	1,139
2022	1,131
2023	1,365
2024	658
2025	658
Thereafter	1,961
Net book value	$ 7,565

Short and Long-Term Borrowing_2

Short and Long-Term Borrowings - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2015	Dec. 31, 2019
Debt Instrument
Short-term borrowings	$ 0		$ 0
Trust preferred securities qualify as Tier 1 capital	$ 29,700,000		$ 29,400,000
FHLB advances
Debt Instrument
FHLB weighted average interest rate	0.93%		1.57%
Subordinated notes
Debt Instrument
Term of loan		10 years
Aggregate amount of subordinated notes		$ 12,000,000
Interest rate		5.00%
PPP Liquidity Facility (“PPPLF”) | Minimum
Debt Instrument
Term of loan	2 years
PPP Liquidity Facility (“PPPLF”) | Maximum
Debt Instrument
Term of loan	5 years
PPP Liquidity Facility (“PPPLF”) | Weighted Average [Member]
Debt Instrument
Term of loan	2 years

Short and Long-Term Borrowing_3

Short and Long-Term Borrowings - Long-term Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument
Long-term borrowings	$ 417,826	$ 67,629
PPP Liquidity Facility (“PPPLF”)
Debt Instrument
Long-term borrowings	335,981	0
FHLB advances
Debt Instrument
Long-term borrowings	39,030	25,061
Junior subordinated debentures
Debt Instrument
Long-term borrowings	30,815	30,575
Subordinated notes
Debt Instrument
Long-term borrowings	$ 12,000	$ 11,993

Short and Long-Term Borrowing_4

Short and Long-Term Borrowings - Junior Subordinated Debentures (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Junior Subordinated Debentures
Carrying Value	$ 417,826,000	$ 67,629,000
Junior subordinated debentures
Junior Subordinated Debentures
Par	38,249,000
Unamortized Discount	(7,434,000)
Carrying Value	30,815,000	30,575,000
Junior subordinated debentures | 2005 Mid-Wisconsin Financial Services, Inc.
Junior Subordinated Debentures
Par	10,310,000
Unamortized Discount	(3,072,000)
Carrying Value	$ 7,238,000	$ 7,138,000
Effective percentage	1.74%	3.32%
Junior subordinated debentures | 2006 Baylake Corp.
Junior Subordinated Debentures
Par	$ 16,598,000
Unamortized Discount	(3,765,000)
Carrying Value	$ 12,833,000	$ 12,715,000
Effective percentage	1.66%	3.31%
Junior subordinated debentures | 2004 First Menasha Bancshares, Inc.
Junior Subordinated Debentures
Par	$ 5,155,000
Unamortized Discount	(597,000)
Carrying Value	$ 4,558,000	$ 4,536,000
Effective percentage	3.09%	4.69%
Junior subordinated debentures | 2004 Nicolet Bankshares Statutory Trust
Junior Subordinated Debentures
Par	$ 6,186,000
Unamortized Discount	0
Carrying Value	$ 6,186,000	$ 6,186,000
Stated interest rate	8.00%
Junior subordinated debentures | London Interbank Offered Rate (LIBOR) | 2005 Mid-Wisconsin Financial Services, Inc.
Junior Subordinated Debentures
Floating interest rate	1.43%
Junior subordinated debentures | London Interbank Offered Rate (LIBOR) | 2006 Baylake Corp.
Junior Subordinated Debentures
Floating interest rate	1.35%
Junior subordinated debentures | London Interbank Offered Rate (LIBOR) | 2004 First Menasha Bancshares, Inc.
Junior Subordinated Debentures
Floating interest rate	2.79%

Fair Value Measurements - Measu

Fair Value Measurements - Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	$ 510,809	$ 449,302
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	63,850	16,460
State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	166,498	156,393
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	196,896	195,018
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	83,565	81,431
Recurring basis fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	510,809	449,302
Recurring basis fair value measurements | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	63,850	16,460
Recurring basis fair value measurements | State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	166,498	156,393
Recurring basis fair value measurements | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	196,896	195,018
Recurring basis fair value measurements | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	83,565	81,431
Recurring basis fair value measurements | Other investments (equity securities)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	3,213	3,375
Recurring basis fair value measurements | Fair Value Measurements Using Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 1 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 1 | State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 1 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 1 | Other investments (equity securities)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	3,213	3,375
Recurring basis fair value measurements | Fair Value Measurements Using Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	507,679	446,172
Recurring basis fair value measurements | Fair Value Measurements Using Level 2 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	63,850	16,460
Recurring basis fair value measurements | Fair Value Measurements Using Level 2 | State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	166,498	156,393
Recurring basis fair value measurements | Fair Value Measurements Using Level 2 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	196,896	195,018
Recurring basis fair value measurements | Fair Value Measurements Using Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	80,435	78,301
Recurring basis fair value measurements | Fair Value Measurements Using Level 2 | Other investments (equity securities)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	3,130	3,130
Recurring basis fair value measurements | Fair Value Measurements Using Level 3 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 3 | State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 3 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring basis fair value measurements | Fair Value Measurements Using Level 3 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	3,130	3,130
Recurring basis fair value measurements | Fair Value Measurements Using Level 3 | Other investments (equity securities)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 0	$ 0

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Level 3 assets measured at fair value on a recurring basis (Details) - Available-for-sale Securities - Level 3 - Recurring basis fair value measurements - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Level 3 Fair Value Measurements:
Balance at beginning of year	$ 3,130	$ 8,490
Acquired balance	0	300
Paydowns/Sales/Settlements	0	(5,660)
Balance at end of period	$ 3,130	$ 3,130

Fair Value Measurements - Mea_2

Fair Value Measurements - Measured at Fair Value on Nonrecurring Basis (Details) - Measured at Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 7,776
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure		$ 16,150
Other real estate owned (“OREO”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	1,000	1,000
MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	8,979	8,420
Fair Value Measurements Using Level 1 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Fair Value Measurements Using Level 1 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Fair Value Measurements Using Level 1 | Other real estate owned (“OREO”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Fair Value Measurements Using Level 1 | MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Fair Value Measurements Using Level 2 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Fair Value Measurements Using Level 2 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Fair Value Measurements Using Level 2 | Other real estate owned (“OREO”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Fair Value Measurements Using Level 2 | MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Fair Value Measurements Using Level 3 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	7,776
Fair Value Measurements Using Level 3 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure		16,150
Fair Value Measurements Using Level 3 | Other real estate owned (“OREO”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	1,000	1,000
Fair Value Measurements Using Level 3 | MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 8,979	$ 8,420

Fair Value Measurements - Summa

Fair Value Measurements - Summary of carrying amounts and estimated fair values of financial instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial assets:
Securities AFS	$ 510,809	$ 449,302
Carrying Amount
Financial assets:
Cash and cash equivalents	822,684	182,059
Certificates of deposit in other banks	17,809	19,305
Securities AFS	510,809	449,302
Other investments, including equity securities	26,375	24,072
Loans held for sale	21,832	2,706
Loans, net	2,792,371	2,559,779
BOLI	78,953	78,140
MSR asset	7,165	5,919
Financial liabilities:
Deposits	3,537,805	2,954,453
Short-term borrowings	0
Long-term borrowings	417,826	67,629
Estimated Fair Value
Financial assets:
Cash and cash equivalents	822,684	182,059
Certificates of deposit in other banks	17,825	19,310
Securities AFS	510,809	449,302
Other investments, including equity securities	26,375	24,072
Loans held for sale	22,377	2,753
Loans, net	2,878,986	2,593,110
BOLI	78,953	78,140
MSR asset	8,979	8,420
Financial liabilities:
Deposits	3,545,764	2,956,229
Short-term borrowings	0
Long-term borrowings	417,905	66,816
Estimated Fair Value | Level 1
Financial assets:
Cash and cash equivalents	822,684	182,059
Certificates of deposit in other banks	0	0
Securities AFS	0	0
Other investments, including equity securities	3,213	3,375
Loans held for sale	0	0
Loans, net	0	0
BOLI	78,953	78,140
MSR asset	0	0
Financial liabilities:
Deposits	0	0
Short-term borrowings	0
Long-term borrowings	0	0
Estimated Fair Value | Level 2
Financial assets:
Cash and cash equivalents	0	0
Certificates of deposit in other banks	17,825	19,310
Securities AFS	507,679	446,172
Other investments, including equity securities	19,299	16,759
Loans held for sale	22,377	2,753
Loans, net	0	0
BOLI	0	0
MSR asset	0	0
Financial liabilities:
Deposits	0	0
Short-term borrowings	0
Long-term borrowings	375,707	25,075
Estimated Fair Value | Level 3
Financial assets:
Cash and cash equivalents	0	0
Certificates of deposit in other banks	0	0
Securities AFS	3,130	3,130
Other investments, including equity securities	3,863	3,938
Loans held for sale	0	0
Loans, net	2,878,986	2,593,110
BOLI	0	0
MSR asset	8,979	8,420
Financial liabilities:
Deposits	3,545,764	2,956,229
Short-term borrowings	0
Long-term borrowings	$ 42,198	$ 41,741