Nicolet Bankshares (NIC) 10-K 24 Feb 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Feb. 23, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
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	NIC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 880
Entity Common Stock, Shares Outstanding		14,694,428
Documents Incorporated by Reference	Portions of the Proxy Statement (the “2023 Proxy Statement”) for the 2023 Annual Meeting of Shareholders to be held on May 15, 2023, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001174850
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Audit Information [Abstract]
Auditor Name	FORVIS, LLP (Formerly BKD, LLP)	FORVIS, LLP (Formerly BKD, LLP)	WIPFLI LLP
Auditor Location	Springfield, Missouri	Springfield, Missouri	Atlanta, Georgia
Auditor Firm ID	686	686	344

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and due from banks		$ 121,211,000	$ 209,349,000
Interest-earning deposits		33,512,000	385,943,000
Federal funds sold		0	0
Cash and cash equivalents	[1]	154,723,000	595,292,000
Certificates of deposit in other banks		12,518,000	21,920,000
Securities available for sale (“AFS”), at fair value		917,618,000	921,661,000
Securities held to maturity (“HTM”), at amortized cost		679,128,000	651,803,000
Other investments		65,286,000	44,008,000
Loans held for sale		1,482,000	6,447,000
Other assets held for sale		0	199,833,000
Loans		6,180,499,000	4,621,836,000
Allowance for credit losses - loans (“ACL-Loans”)		(61,829,000)	(49,672,000)
Loans, net		6,118,670,000	4,572,164,000
Premises and equipment, net		108,956,000	94,566,000
Bank owned life insurance (“BOLI”)		165,137,000	134,476,000
Goodwill and other intangibles, net		402,438,000	339,492,000
Accrued interest receivable and other assets		138,013,000	113,375,000
Total assets		8,763,969,000	7,695,037,000
Liabilities:
Noninterest-bearing demand deposits		2,361,816,000	1,975,705,000
Interest-bearing deposits		4,817,105,000	4,490,211,000
Total deposits		7,178,921,000	6,465,916,000
Short-term borrowings		317,000,000	0
Long-term borrowings		225,342,000	216,915,000
Other liabilities held for sale		0	51,586,000
Accrued interest payable and other liabilities		70,177,000	68,729,000
Total liabilities		7,791,440,000	6,803,146,000
Stockholders’ Equity:
Common stock		147,000	140,000
Additional paid-in capital		621,988,000	575,045,000
Retained earnings		407,864,000	313,604,000
Accumulated other comprehensive income (loss)		(57,470,000)	3,102,000
Total stockholders’ equity		972,529,000	891,891,000
Total liabilities and stockholders’ equity		$ 8,763,969,000	$ 7,695,037,000
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)		14,690,614	13,994,079
Common shares issued (in shares)		14,764,104	14,019,880
[1]Cash and cash equivalents at December 31, 2022 did not include any restricted cash. At both December 31, 2021 and December 31, 2020, cash and cash equivalents included restricted cash of $1.9 million pledged as collateral on interest rate swaps and no reserve balance was required with the Federal Reserve.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest income:
Loans, including loan fees	$ 243,680	$ 156,559	$ 136,372
Investment securities:
Taxable	21,383	9,934	8,118
Tax-exempt	4,418	2,157	2,101
Other interest income	4,437	2,909	2,611
Total interest income	273,918	171,559	149,202
Interest expense:
Deposits	21,752	10,448	16,641
Short-term borrowings	3,246	1	66
Long-term borrowings	8,959	3,155	3,157
Total interest expense	33,957	13,604	19,864
Net interest income	239,961	157,955	129,338
Provision for credit losses	11,500	14,900	10,300
Net interest income after provision for credit losses	228,461	143,055	119,038
Noninterest income:
Mortgage income, net	8,497	22,155	29,807
BOLI income	3,818	2,380	2,710
Asset gains (losses), net	3,130	4,181	(1,805)
Deferred compensation plan asset market valuations	(2,040)	609	590
LSR income, net	(1,366)	0	0
Other income	7,264	3,936	3,902
Total noninterest income	57,920	67,364	62,626
Noninterest expense:
Personnel	88,713	70,618	57,121
Occupancy, equipment and office	29,722	21,058	16,718
Business development and marketing	8,472	5,403	5,396
Data processing	14,518	11,990	10,495
Intangibles amortization	6,616	3,494	3,567
FDIC assessments	1,920	2,035	707
Merger-related expense	1,664	5,651	1,020
Other expense	9,019	9,048	5,695
Total noninterest expense	160,644	129,297	100,719
Income before income tax expense	125,737	81,122	80,945
Income tax expense	31,477	20,470	20,476
Net income	94,260	60,652	60,469
Less: Net income attributable to noncontrolling interest	0	0	347
Net income attributable to Nicolet Bankshares, Inc.	$ 94,260	$ 60,652	$ 60,122
Earnings per common share:
Basic (in dollars per share)	$ 6.78	$ 5.65	$ 5.82
Diluted (in dollars per share)	$ 6.56	$ 5.44	$ 5.70
Weighted average common shares outstanding:
Basic (in shares)	13,909,299	10,735,605	10,337,138
Diluted (in shares)	14,374,931	11,144,866	10,541,251
Trust services fee income
Noninterest income:
Fees and commissions	$ 7,947	$ 7,774	$ 6,463
Brokerage fee income
Noninterest income:
Fees and commissions	12,923	12,143	9,753
Service charges on deposit accounts
Noninterest income:
Fees and commissions	6,104	5,023	4,208
Card interchange income
Noninterest income:
Fees and commissions	$ 11,643	$ 9,163	$ 6,998

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 94,260	$ 60,652	$ 60,469
Unrealized gains (losses) on securities AFS:
Net unrealized holding gains (losses)	(83,219)	(13,495)	11,803
Net realized (gains) losses included in income	244	283	(395)
Income tax (expense) benefit	22,403	3,567	(3,079)
Total other comprehensive income (loss), net of tax	(60,572)	(9,645)	8,329
Comprehensive income (loss)	$ 33,688	$ 51,007	$ 68,798

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	County Bancorp, Inc.	Mackinac Financial Corporation	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Common Stock County Bancorp, Inc.	Common Stock Mackinac Financial Corporation	Additional Paid-In Capital	Additional Paid-In Capital County Bancorp, Inc.	Additional Paid-In Capital Mackinac Financial Corporation	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Non- controlling Interest
Beginning balance at Dec. 31, 2019	$ 516,990			$ (6,175)	$ 106			$ 312,733			$ 199,005	$ (6,175)	$ 4,418	$ 728
Comprehensive income:
Net income	60,469										60,122			347
Other comprehensive income (loss)	8,329												8,329
Stock-based compensation expense	5,700							5,700
Exercise of stock options, net	1,474				0			1,474
Issuance of common stock	581							581
Purchase and retirement of common stock	(42,088)				(6)			(42,082)
Purchase of noncontrolling interest	(5,876)							(5,016)						(860)
Distribution to noncontrolling interest	(215)													(215)
Ending balance at Dec. 31, 2020	539,189				100			273,390			252,952		12,747	0
Comprehensive income:
Net income	60,652										60,652			0
Other comprehensive income (loss)	(9,645)												(9,645)
Stock-based compensation expense	7,307							7,307
Exercise of stock options, net	1,837				1			1,836
Issuance of common stock in acquisitions, net of capitalized issuance costs		$ 175,155	$ 179,434			$ 24	$ 23		$ 175,131	$ 179,411
Issuance of common stock	545							545
Purchase and retirement of common stock	(62,583)				(8)			(62,575)
Ending balance at Dec. 31, 2021	891,891				140			575,045			313,604		3,102	0
Comprehensive income:
Net income	94,260										94,260			0
Other comprehensive income (loss)	(60,572)												(60,572)
Stock-based compensation expense	7,016							7,016
Exercise of stock options, net	2,531				1			2,530
Common stock issued in acquisitions	98,149				13			98,136
Issuance of common stock	751							751
Purchase and retirement of common stock	(61,497)				(7)			(61,490)
Ending balance at Dec. 31, 2022	$ 972,529				$ 147			$ 621,988			$ 407,864		$ (57,470)	$ 0

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
County Bancorp, Inc.
Common stock issued, capitalized Issuance costs	$ 397
Mackinac Financial Corporation
Common stock issued, capitalized Issuance costs	$ 392

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Cash Flows From Operating Activities:
Net income		$ 94,260		$ 60,652		$ 60,469
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion		21,930		13,857		10,685
Provision for credit losses		11,500		14,900		10,300
Provision for deferred taxes		(12,907)		6,332		3,127
Increase in cash surrender value of life insurance		(3,701)		(2,380)		(2,199)
Stock-based compensation expense		7,016		7,307		5,700
Assets (gains) losses, net		(3,130)		(4,181)		1,805
Gain on sale of loans held for sale, net		(4,888)		(20,468)		(29,966)
Proceeds from sale of loans held for sale		208,296		650,573		854,608
Origination of loans held for sale		(200,770)		(619,431)		(848,337)
Net change in accrued interest receivable and other assets		73		(10,531)		6,991
Net change in accrued interest payable and other liabilities		(283)		1,024		5,716
Net cash provided by (used in) operating activities		117,396		97,654		78,899
Cash Flows From Investing Activities:
Net (increase) decrease in certificates of deposit in other banks		9,411		10,968		9,167
Purchases of securities AFS		(8,623)		(299,746)		(170,518)
Purchases of securities HTM		(56,479)		(569,910)		0
Proceeds from sales of securities AFS		28,438		42,973		19,045
Proceeds from calls, paydowns, and maturities of investment securities AFS		104,063		167,024		94,818
Proceeds from calls, paydowns, and maturities of investment securities HTM		28,306		0		0
Net (increase) decrease in loans		(731,904)		(76,427)		(125,020)
Purchases of other investments		(24,999)		(13,432)		(4,360)
Proceeds from sales of other investments		13,138		10,203		0
Net (increase) decrease in premises and equipment		(12,234)		(12,791)		(10,791)
Net (increase) decrease in other real estate		13,150		2,743		343
Proceeds from redemption of BOLI		1,757		0		440
Net cash (paid) received in branch sale		147,833		0		0
Net cash (paid) received in business combination		(28,221)				(21,820)
Net cash (paid) received in business combination				367,797
Net cash provided by (used in) investing activities		(516,364)		(370,598)		(208,696)
Cash Flows From Financing Activities:
Net increase (decrease) in deposits		(147,520)		210,375		815,094
Net increase (decrease) in short-term borrowings		184,134		0		0
Proceeds from long-term borrowings		0		103,953		367,842
Repayments of long-term borrowings		(20,000)		(187,961)		(384,091)
Distribution to noncontrolling interest		0		0		(215)
Purchase of noncontrolling interest		0		0		(8,000)
Capitalized issuance costs, net		0		(789)		0
Purchase and retirement of common stock		(61,497)		(62,583)		(42,088)
Proceeds from issuance of common stock, net		3,282		2,382		2,055
Net cash provided by (used in) financing activities		(41,601)		65,377		750,597
Net increase (decrease) in cash and cash equivalents		(440,569)		(207,567)		620,800
Cash and cash equivalents:
Beginning cash and cash equivalents		595,292	[1]	802,859	[1]	182,059
Ending cash and cash equivalents	[1]	154,723		595,292		802,859
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest		37,433		10,882		23,485
Cash paid for taxes		33,560		24,341		21,969
Transfer of loans and bank premises to other real estate owned		612		8,177		2,608
Capitalized mortgage servicing rights		2,327		4,329		5,256
Acquisitions:
Fair value of assets acquired		1,121,000		2,968,000		160,000
Fair value of liabilities assumed		1,034,000		2,666,000		146,000
Net assets acquired		87,000		302,000		14,000
Common stock issued in acquisitions		$ 98,149		$ 355,378		$ 0
[1]Cash and cash equivalents at December 31, 2022 did not include any restricted cash. At both December 31, 2021 and December 31, 2020, cash and cash equivalents included restricted cash of $1.9 million pledged as collateral on interest rate swaps and no reserve balance was required with the Federal Reserve.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Cash Flows [Abstract]
Restricted cash pledged as collateral	$ 0	$ 1,900,000	$ 1,900,000

NATURE OF BUSINESS AND SIGNIFIC

NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES	NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Nature of Banking Activities and Subsidiaries : Nicolet Bankshares, Inc. (the “Company” or “Nicolet”) was incorporated on April 5, 2000, to serve as the holding company and sole shareholder of Nicolet National Bank (the “Bank”). The Bank opened for business on November 1, 2000. Since its opening in late 2000, Nicolet has supplemented its organic growth with branch purchase and acquisition transactions. At December 31, 2022, the Company had three wholly owned subsidiaries, the Bank, Nicolet Advisory Services, LLC (“Nicolet Advisory”), and Nicolet Insurance Services, LLC (“Nicolet Insurance”). The consolidated income of the Company is derived principally from the Bank, which conducts lending (primarily commercial and agricultural-based loans, as well as residential and consumer loans) and deposit gathering (including other banking- and deposit-related products and services, such as ATMs, safe deposit boxes, check cashing, wires, and debit cards) to businesses, consumers and governmental units principally in its trade area of Wisconsin, Michigan and Minnesota, trust services, brokerage services (delivered through the Bank and Nicolet Advisory), and the support to deliver, fund and manage all such banking and wealth management services to its customer base. At December 31, 2022, the Bank wholly owns an investment subsidiary based in Nevada, a subsidiary that provides a web-based investment management platform for financial advisor trades and related activity, and an entity that owns the building in which Nicolet is headquartered, Nicolet Joint Ventures, LLC (the “JV”). The JV was owned 50% by a real estate development and investment firm (the “Firm”) through the JV until late 2020 when the Bank became the 100% owner and sole managing member of the JV. The Firm is considered a related party, as one of its principals is a Board member and shareholder of the Company. Nicolet Advisory is a registered investment advisor subsidiary that provides brokerage and investment advisory services to customers. In late 2020, to improve process efficiencies and organizational structure, the Company dissolved its wholly owned subsidiary, Brookfield Investment Partners, LLC, which provided limited investment services (transactional and strategy) to a few smaller banks, and Nicolet Advisory assumed those additional investment services contracts. Nicolet Insurance, acquired in 2021, was formed to facilitate the delivery of a crop insurance product associated with Nicolet’s agricultural lending. Principles of Consolidation : The consolidated financial statements of the Company include the accounts of its subsidiaries. The JV underlies the noncontrolling interest reflected in the consolidated financial statements until late 2020 when the Bank purchased the remaining interest. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and conform to general practices within the banking industry. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. Results of operations of companies purchased, if any, are included from the date of acquisition. Because the Company is not the primary beneficiary, the consolidated financial statements exclude the following wholly-owned variable interest entities: Mid-Wisconsin Statutory Trust, Baylake Capital Trust II, First Menasha Bancshares Statutory Trust I, First Menasha Bancshares Statutory Trust II, County Bancorp Statutory Trust II, County Bancorp Statutory Trust III, and Fox River Valley Trust I. Operating Segment : The Bank represents the primary operating segment (as discussed above). While the chief operating decision makers monitor the revenue streams of the various products and services, and evaluate costs, balance sheet positions and quality, all such products, services and activities are directly or indirectly related to the business of community banking, with no regular, formal or material segment delineations. Operations are managed and financial performance is evaluated on a company-wide basis, and accordingly, all the financial service operations are considered by management to be aggregated in one reportable operating segment. Use of Estimates : In preparing the accompanying consolidated financial statements in conformity with U.S. GAAP, the Company’s management is required to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the disclosures provided. Actual results may differ from these estimates. Material estimates that are particularly susceptible to significant change in the near-term include the fair value of securities available for sale, the determination of the allowance for credit losses, business combinations accounting and the fair value of assets acquired and liabilities assumed, goodwill, and income taxes. Business Combinations : The Company accounts for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations (“ASC 805”). The Company recognizes the full fair value of the assets acquired and liabilities assumed and immediately expenses transaction costs. If the amount of consideration exceeds the fair value of assets purchased less the fair value of liabilities assumed, goodwill is recorded. Alternatively, if the amount by which the fair value of assets purchased exceeds the fair value of liabilities assumed and consideration paid, a gain (“bargain purchase gain”) is recorded. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Results of operations of the acquired business are included in the statements of income from the effective date of the acquisition. Cash and Cash Equivalents : For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash and due from banks, interest-earning deposits in other banks with original maturities of less than 90 days, and federal funds sold. The Bank maintains amounts in due from banks which, at times, may exceed federally insured limits. Management monitors these correspondent relationships, and the Bank has not experienced any losses in such accounts. Securities Available for Sale : Securities are classified as AFS on the consolidated balance sheets at the time of purchase and include 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. Securities classified as AFS are carried at fair value, with unrealized gains or losses, net of related deferred income taxes, reported as increases or decreases in accumulated other comprehensive income. Realized gains or losses on sales of securities AFS (using the specific identification method) are included in the consolidated statements of income under asset gains (losses), net. Premiums and discounts are amortized or accreted into interest income over the estimated life of the related securities using the effective interest method. Management evaluates securities AFS in unrealized loss positions on a quarterly basis to determine whether the decline in fair value below the amortized cost 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 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 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. Securities Held to Maturity : Securities are classified as HTM on the consolidated balance sheets at the time of purchase and include those securities that the Company has both the positive intent and ability to hold to maturity. HTM securities are carried at amortized cost on the consolidated balance sheets. Premiums and discounts are amortized or accreted into interest income over the estimated life of the related securities using the effective interest method. Management evaluates securities HTM on a quarterly basis to determine whether an ACL is necessary. In making this determination, management considers the facts and circumstances of the underlying investment securities. The ACL for HTM securities, if deemed necessary, evaluates expected credit losses on HTM securities by security type, aggregated by similar risk characteristics, and considers historical credit loss information as adjusted for current conditions and supportable forecasts. Other Investments : Other investments include equity securities with readily determinable fair values, “restricted” equity securities, and private company securities. As a member of the Federal Reserve Bank System and the Federal Home Loan Bank (“FHLB”) System, the Bank is required to maintain an investment in the capital stock of these entities. These equity securities are “restricted” in that they can only be sold back to the respective institutions or another member institution at par. Therefore, they are less liquid than other exchange traded equity securities. As no ready market exists for these stocks, and they have no quoted market value, these investments are carried at cost. Also included are investments in other private companies that do not have quoted market prices, which are carried at cost less impairment charges, if any. Management’s evaluation of these other investments for impairment includes consideration of the financial condition and other available relevant information of the issuer. Loans Held for Sale : Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value as determined on an aggregate basis and generally consist of current production of certain fixed-rate residential first lien mortgages. The amount by which cost exceeds fair value is recorded as a valuation allowance and charged to earnings. Changes, if any, in the valuation allowance are included in earnings in the period in which the change occurs. As of December 31, 2022 and 2021, no valuation allowance was necessary. Loans held for sale may be sold servicing retained or servicing released, and are generally sold without recourse. The carrying value of mortgage loans sold with servicing retained is reduced by the amount allocated to the servicing right at the time of sale. Gains and losses on sales of mortgage loans held for sale are included in earnings in mortgage income, net. 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 amount outstanding, net of deferred loan fees and costs, and any direct principal charge-off. 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. A description of each segment of the loan portfolio, including the corresponding credit risk, is included below. Commercial and industrial loans consist primarily of commercial loans to small and mid-sized businesses within a diverse range of industries (manufacturing, wholesaling, paper, packaging, food production and processing, retail, service, and businesses supporting the general building industry). These loans are made for a wide variety of general corporate purposes, including working capital, equipment, and business expansion loans, with varying terms based upon the underlying purpose of the loan. Commercial and industrial loans are based primarily on the historical and projected cash flow of the underlying borrower, and secondarily on any underlying assets pledged by the borrower. The credit risk related to commercial and industrial loans is largely influenced by general economic conditions and the resulting impact on a borrower’s operations, or on the value of underlying collateral, if any. Credit risk is managed by employing sound underwriting guidelines, lending primarily to borrowers in local markets, formally reviewing the borrower’s financial condition on an ongoing basis, and generally require a guarantee (in full or part) from the primary business owners. Commercial bankers utilize SBA programs, where appropriate, as Nicolet is a preferred SBA lender. Owner-occupied CRE loans primarily consist of loans within a diverse range of industries secured by business real estate that is occupied by borrowers who operate their businesses out of the underlying collateral and who may also have commercial and industrial loans. The credit risk related to owner-occupied CRE loans is largely influenced by general economic conditions and the resulting impact on a borrower’s operations, or on the value of underlying collateral. Credit risk is managed by employing sound underwriting guidelines, lending primarily to borrowers in local markets, periodically evaluating the underlying collateral, formally reviewing the borrower’s financial performance on an ongoing basis, and generally require a guarantee (in full or part) from the primary business owners. Agricultural loans consist of loans secured by farmland and the related farming operations, primarily within the dairy industry. These loans support short-term needs (planting crops or buying feed), as well as longer term needs (fund cattle, equipment or real estate purchases and improvements) of our agricultural customers. The credit risk related to agricultural loans is largely influenced by the agricultural economy, including market prices for the cost of feed and the price of milk, and/or the underlying value of the farmland. Credit risk is managed by employing sound underwriting guidelines, regular personal contact with our agricultural customers, formally reviewing the borrower’s financial condition on an ongoing basis, and generally require a guarantee (in full or part) from the primary business owners. Agricultural bankers utilize FSA programs, where appropriate, as Nicolet is a preferred FSA lender. The CRE investment loan classification primarily includes commercial-based mortgage loans that are secured by non-owner occupied, nonfarm/nonresidential real estate properties, and multi-family residential properties. Lending in this segment is focused on loans that are secured by commercial income-producing properties as opposed to speculative real estate development. The credit risk related to CRE investment loans is influenced by the cash flows of the properties, including vacancy experience, credit capacity of the tenants occupying the real estate, and general economic conditions, all of which may impact the borrower’s operations or the value of underlying collateral. Credit risk is managed by employing sound underwriting guidelines, lending primarily to borrowers in local markets, periodically evaluating the underlying collateral, regularly reviewing the borrower’s financial condition, and generally require a guarantee (in full or part) from the principals. Construction and land development loans provide financing for the development of commercial income properties, multi-family residential development, and land designated for future development. The credit risk on construction loans depends largely upon the accuracy of the initial estimate of the property’s value at completion of construction and the estimated cost of construction. Nicolet controls the credit risk on these types of loans by making loans in familiar markets, reviewing the merits of individual projects, controlling loan structure, and monitoring the progress of projects through the analysis of construction advances. Credit risk is managed by employing sound underwriting guidelines, lending primarily to borrowers in local markets, periodically evaluating the underlying collateral, formally reviewing the borrower’s financial soundness and relationships on an ongoing basis, and generally require a guarantee (in full or part) from the principals. Residential real estate includes residential first mortgage loans and residential junior mortgage loans (home equity lines and term loans secured by junior mortgage liens). Residential real estate also includes residential construction loans. As part of its management of originating residential mortgage loans, Nicolet generally sells the majority of its long-term, fixed-rate residential first mortgage loans in the secondary market with the servicing rights retained, and retains the adjustable-rate mortgage loans in its loan portfolio. The Company may also retain a portion of the long-term, fixed rate residential mortgage loans that do not conform with secondary market standards, but do meet other specific underwriting guidelines. Credit risk for residential real estate loans largely depends upon factors affecting the borrower’s ability to repay as well as general economic trends. Residential real estate loan underwriting is subject to specific regulations, and Nicolet typically underwrites these loans to conform with those widely accepted standards. Residential real estate loans typically have longer terms and higher balances with lower yields, but generally carry lower risks of default. Retail loans include predominantly credit cards and other personal installment loans to individuals within Nicolet’s market areas. Retail loans are centrally underwritten utilizing the borrower’s financial history and information on the underlying collateral. Retail loans typically have shorter terms and lower balances with higher yields, but generally carry higher risks of default. Collection of these loans depends on the borrower’s financial stability, and is more likely to be affected by adverse personal circumstances. Loans – Acquired : Loans purchased in acquisition transactions are acquired loans, and are recorded at their estimated fair value on the acquisition date. 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. Allowance for Credit Losses - Loans : The ACL-Loans represents management’s estimate of expected credit losses over the lifetime of the loan based on loans 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. Actual credit losses, net of recoveries, are deducted from the ACL-Loans. Loans are charged-off when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the ACL-Loans. A provision for credit losses, which is a charge against income, is recorded to bring the ACL-Loans to a level that, in management’s judgment, is appropriate to absorb expected credit losses in the loan portfolio. The Company uses the current expected credit loss model (“CECL”) to estimate the ACL-Loans. This model considers historical loss rates and other qualitative adjustments, as well as a 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 and other credit-deteriorated 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. To assess the overall appropriateness of the ACL-Loans, management applies an allocation methodology which focuses on evaluation of qualitative and environmental factors, including but not limited to: evaluation of facts and issues related to specific loans; management’s ongoing review and grading of the loan portfolio; consideration of historical loan loss and delinquency experience on each portfolio segment; trends in past due and nonaccrual loans; the risk characteristics of the various loan segments; changes in the size and character of the loan portfolio; concentrations of loans to specific borrowers or industries; existing economic conditions; the fair value of underlying collateral; and 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 PCD and other credit-deteriorated loans, which management defines as nonaccrual credit relationships over $250,000, collateral dependent loans, and 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. Next, 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. Management also allocates the ACL-Loans using the qualitative and environmental factors mentioned above. Consideration is given to those current qualitative or environmental factors that are likely to cause estimated credit losses at 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. Allocations to the ACL-Loans may be made for specific loans but the entire ACL-Loans is available for any loan that, in management’s judgment, should be charged-off or for which an actual loss is realized. The allowance analysis is reviewed by the Board on a quarterly basis in compliance with internal and regulatory requirements. Credit-Related Financial Instruments : In the ordinary course of business the Company has entered into financial instruments consisting of commitments to extend credit, financial standby letters of credit, and performance standby letters of credit. Financial standby letters of credit are issued specifically to facilitate commerce and typically result in the commitment being drawn on when the underlying transaction is consummated between the customer and the third party, while performance standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party. Such financial instruments are recorded in the consolidated financial statements when they are funded. Allowance for Credit Losses - Unfunded Commitments : In addition to the ACL-Loans, the Company has established an allowance for unfunded commitments, included in accrued interest payable and other liabilities on the consolidated balance sheets, representing expected credit losses over the contractual period for which the Company is exposed to credit risk resulting from a contractual obligation to extend credit. The ACL-Unfunded Commitments is maintained at a level that management believes is sufficient to absorb losses arising from unfunded loan commitments, and is determined quarterly based on methodology similar to the methodology for determining the ACL-Loans. Transfers of Financial Assets : Transfers of financial assets, primarily in loan participation activities, are accounted for as sales only when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of the right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return assets. Premises and Equipment : Premises and equipment are stated at cost less accumulated depreciation and amortization. Premises and equipment from acquisitions were recorded at estimated fair value on the respective dates of acquisition. Depreciation is computed on a straight-line basis over the estimated useful lives of the related assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the estimated useful lives of the improvements or the terms of the related leases. Maintenance and repairs are expensed as incurred. Estimated useful lives of new premises and equipment generally range as follows: Building and improvements 25 – 40 years Leasehold improvements 5 – 15 years Furniture and equipment 3 – 10 years Operating Leases : The Company accounts for its operating leases in accordance with ASC 842, Leases , which requires lessees to record almost all leases on the balance sheet as a right-of-use (“ROU”) asset and lease liability. The operating lease ROU asset represents the right to use an underlying asset during the lease term (included in accrued interest receivable and other assets accrued interest payable and other liabilities Other Real Estate Owned (“OREO”) : OREO acquired through partial or total satisfaction of loans or bank facilities no longer in use are carried at fair value less estimated costs to sell. Any write-down in the carrying value of loans or vacated bank premises at the time of transfer to OREO is charged to the ACL-Loans or to write-down of assets, respectively. OREO properties acquired in conjunction with acquisition transactions were recorded at fair value on the date of acquisition. Any subsequent write-downs to reflect current fair value, as well as gains or losses on disposition and revenues and expenses incurred to hold and maintain such properties, are treated as period costs. Goodwill and Other Intangibles : Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired. Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis or more frequently if certain events or circumstances occur. Other intangibles include core deposit intangibles (which represent the value of acquired customer core deposit bases) and customer list intangibles. The core deposit intangibles have an estimated finite life, are amortized on an accelerated basis over a 10-year period, and are subject to periodic impairment evaluation. The customer list intangibles have finite lives, are amortized on a straight-line basis to expense over their initial weighted average life of approximately 12 years as of acquisition, and are subject to periodic impairment evaluation. 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. Mortgage Servicing Rights (“MSRs”) : The Company sells originated residential mortgages into the secondary market and retains the right to service the loans sold. A mortgage servicing right asset (liability) is capitalized upon sale of such loans with the offsetting effect recorded as a gain (loss) on sale of loans in earnings (included in mortgage income, net), representing the then-current estimated fair value of future net cash flows expected to be realized for performing the servicing activities. MSRs when purchased (including MSRs purchased in acquisitions) are initially recorded at their then-estimated fair value. As the Company has not elected to measure any class of servicing assets under the fair value method, the Company utilizes the amortization method. MSRs are amortized in proportion to and over the period of estimated net servicing income, with the amortization charged to earnings (included in mortgage income, net). MSRs are carried at the lower of initial capitalized amount, net of accumulated amortization, or estimated fair value, and are included in other assets in the consolidated balance sheets. Loan servicing fee income for servicing loans is typically based on a c

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Completed Acquisitions: Charter Bankshares, Inc. (“Charter”): On August 26, 2022, Nicolet completed its merger with Charter, pursuant to the Agreement and Plan of Merger dated March 29, 2022 (the “Charter Merger Agreement”), at which time Charter merged with and into Nicolet, and Charter Bank, the wholly owned bank subsidiary of Charter, was merged with and into the Bank. Pursuant to the Charter Merger Agreement, each share of Charter common stock issued and outstanding immediately prior to the effective time of the merger was converted into the right to receive 15.458 shares of Nicolet common stock and $475 in cash. As a result, Nicolet issued approximately 1.26 million shares of Nicolet common stock for stock consideration of $98 million and cash consideration of $39 million, or a total purchase price of $137 million. With the Charter merger, Nicolet expanded into Western Wisconsin and Minnesota. A summary of the assets acquired and liabilities assumed in the Charter transaction, as of the acquisition date, including the preliminary purchase price allocation was as follows. (In millions, except share data) Acquired from Charter Fair Value Adjustments Estimated Fair Value Assets Acquired: Cash and cash equivalents $ 10 $ — $ 10 Investment securities 218 — 218 Loans 848 (21) 827 ACL-Loans (9) 7 (2) Premises and equipment 9 1 10 BOLI 29 — 29 Core deposit intangible — 19 19 Other assets 5 5 10 Total assets $ 1,110 $ 11 $ 1,121 Liabilities Assumed: Deposits $ 869 $ 1 $ 870 Borrowings 161 — 161 Other liabilities 3 — 3 Total liabilities $ 1,033 $ 1 $ 1,034 Net assets acquired $ 87 Purchase Price: Nicolet common stock issued (in shares) 1,262,360 Value of Nicolet common stock consideration $ 98 Cash consideration paid 39 Total purchase price $ 137 Preliminary goodwill $ 50 The Company purchased loans through the acquisition of Charter for which there was, at the date of acquisition, more than insignificant deterioration of credit quality since origination (purchased credit deteriorated loans or “PCD” loans). The carrying amount of these loans at acquisition was as follows. (In thousands) August 26, 2022 Purchase price of PCD loans at acquisition $ 24,031 Allowance for credit losses on PCD loans at acquisition 1,709 Par value of PCD acquired loans at acquisition $ 25,740 The Company accounted for the Charter acquisition under the acquisition method of accounting, and thus, the financial position and results of operations of Charter 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. The estimated fair value was determined with the assistance of third party valuations, appraisals, and third party advisors. Due to the timing of the merger, the purchase price allocation and estimated fair value measurements remain preliminary. Goodwill arising as a result of the Charter acquisition is not deductible for tax purposes. Management will continue to review the estimated fair values and expects to finalize its analysis of the acquired assets and assumed liabilities in the transaction over the next few months, within one year of the merger. Therefore, adjustments to the purchase price allocation and estimated fair value may occur. County Bancorp, Inc. (“County”): On December 3, 2021, Nicolet completed its merger with County, pursuant to the terms of the Agreement and Plan of Merger dated June 22, 2021 (the “County Merger Agreement”), at which time County merged with and into Nicolet, and Investors Community Bank, the wholly owned bank subsidiary of County, was merged with and into the Bank. Pursuant to the County Merger Agreement, each share of County common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive, at the election of the shareholder, either cash of $37.18 or 0.48 shares of Nicolet common stock, subject to proration procedures such that 1,237,000 shares of County common stock were exchanged for cash, and the remaining shares were exchanged for Nicolet common stock. As a result, Nicolet issued approximately 2.4 million shares of Nicolet common stock for stock consideration of $176 million and cash consideration of $48 million, or a total purchase price of $224 million. With the County merger, Nicolet became the premier agriculture lender throughout Wisconsin. A summary of the assets acquired and liabilities assumed in the County transaction, as of the acquisition date, including the purchase price allocation was as follows. (In millions, except share data) Acquired from County Fair Value Adjustments Estimated Fair Value Assets Acquired: Cash and cash equivalents $ 20 $ — $ 20 Investment securities 301 (1) 300 Loans 1,015 (1) 1,014 ACL-Loans (11) 8 (3) Premises and equipment 21 (4) 17 BOLI 33 — 33 Core deposit intangible — 7 7 Loan servicing rights 20 — 20 Other assets 6 (2) 4 Total assets $ 1,405 $ 7 $ 1,412 Liabilities Assumed: Deposits $ 1,027 $ 3 $ 1,030 Borrowings 218 1 219 Other liabilities 8 — 8 Total liabilities $ 1,253 $ 4 $ 1,257 Net assets acquired $ 155 Purchase Price: Nicolet common stock issued (in shares) 2,366,243 Value of Nicolet common stock consideration $ 176 Cash consideration paid 48 Total purchase price $ 224 Write-off prior investment in County (1) Goodwill $ 70 The Company purchased loans through the acquisition of County for which there was, at the date of acquisition, more than insignificant deterioration of credit quality since origination (PCD loans). The carrying amount of these loans at acquisition was as follows. (In thousands) December 3, 2021 Purchase price of PCD loans at acquisition $ 64,720 Allowance for credit losses on PCD loans at acquisition 3,490 Par value of PCD acquired loans at acquisition $ 68,210 The Company accounted for the County acquisition under the acquisition method of accounting, and thus, the financial position and results of operations of County 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. The estimated fair value was determined with the assistance of third party valuations, appraisals, and third party advisors. Goodwill arising as a result of the County acquisition is not deductible for tax purposes. Mackinac Financial Corporation (“Mackinac”): On September 3, 2021, Nicolet completed its merger with Mackinac, pursuant to the terms of the Agreement and Plan of Merger dated April 12, 2021 (the “Mackinac Merger Agreement”), at which time Mackinac merged with and into Nicolet, and mBank, the wholly owned bank subsidiary of Mackinac, was merged with and into the Bank. Pursuant to the Mackinac Merger Agreement, Mackinac shareholders received fixed consideration of 0.22 shares of Nicolet common stock and $4.64 in cash for each share of Mackinac common stock owned (approximating 20% in cash and 80% in stock), resulting in the issuance of 2.3 million shares of Nicolet common stock for stock consideration of $180 million and cash consideration of $49 million, or a total purchase price of $229 million. The Mackinac merger expands Nicolet prominently into Northern Michigan and the Upper Peninsula of Michigan, and adds to Nicolet’s presence in upper northeastern Wisconsin. A summary of the assets acquired and liabilities assumed in the Mackinac transaction, as of the acquisition date, including the purchase price allocation was as follows. (In millions, except share data) Acquired from Mackinac Fair Value Adjustments Estimated Fair Value Assets Acquired: Cash and cash equivalents $ 448 $ — $ 448 Investment securities 104 — 104 Loans 930 10 940 ACL-Loans (6) 4 (2) Premises and equipment 24 (3) 21 BOLI 16 — 16 Goodwill 20 (20) — Other intangibles 4 3 7 Other assets 25 (3) 22 Total assets $ 1,565 $ (9) $ 1,556 Liabilities Assumed: Deposits $ 1,365 $ 1 $ 1,366 Borrowings 28 1 29 Other liabilities 13 1 14 Total liabilities $ 1,406 $ 3 $ 1,409 Net assets acquired $ 147 Purchase Price: Nicolet common stock issued (in shares) 2,337,230 Value of Nicolet common stock consideration $ 180 Cash consideration paid 49 Total purchase price $ 229 Write-off prior investment in Mackinac (2) Goodwill $ 84 The Company purchased loans through the acquisition of Mackinac for which there was, at the date of acquisition, more than insignificant deterioration of credit quality since origination (PCD loans). The carrying amount of these loans at acquisition was as follows. (In thousands) September 3, 2021 Purchase price of PCD loans at acquisition $ 10,605 Allowance for credit losses on PCD loans at acquisition 1,896 Par value of PCD acquired loans at acquisition $ 12,501 The Company accounted for the Mackinac acquisition under the acquisition method of accounting, and thus, the financial position and results of operations of Mackinac 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. The estimated fair value was determined with the assistance of third party valuations, appraisals, and third party advisors. Goodwill arising as a result of the Mackinac acquisition is not deductible for tax purposes. Summary Unaudited Pro Forma Information: The following unaudited pro forma information is presented for illustrative purposes only, and gives effect to the acquisitions of County and Mackinac as if the acquisitions had occurred on January 1, 2020, the beginning of the earliest period presented. The pro forma information should not be relied upon as being indicative of the historical results of operations the companies would have had if the acquisitions had occurred before such periods or the future results of operations that the companies will experience as a result of the mergers. The pro forma information, although helpful in illustrating the financial characteristics of the combined company under one set of assumptions, does not reflect the benefits of expected cost savings, opportunities to earn additional revenue, the impact of restructuring and merger-related expenses, or other factors that may result as a consequence of the mergers and, accordingly, does not attempt to predict or suggest future results. Years Ended (In thousands, except per share data) December 31, 2021 December 31, 2020 Total revenue, net of interest expense $ 320,307 $ 308,325 Net income $ 87,860 $ 77,641 Diluted earnings per common share $ 5.91 $ 5.21 Advantage Community Bancshares, Inc. (“Advantage”) : On August 21, 2020, Nicolet completed its merger with Advantage, pursuant to the terms of the definitive merger agreement dated March 2, 2020, whereby Advantage merged with and into Nicolet, and Advantage Community Bank, the wholly owned bank subsidiary of Advantage, was merged with and into the Bank. Advantage’s four branches in Dorchester, Edgar, Mosinee, and Wausau opened as Nicolet National Bank branches on August 24, 2020, expanding our presence in Central Wisconsin and the Wausau area. Due to the small size of the transaction, terms of the all-cash deal were not disclosed.

SECURITIES AND OTHER INVESTMENT

SECURITIES AND OTHER INVESTMENTS	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
SECURITIES AND OTHER INVESTMENTS	SECURITIES AND OTHER INVESTMENTS Securities Securities are classified as AFS or HTM on the consolidated balance sheets at the time of purchase. AFS securities include those securities that the Company intends to hold for an indefinite period of time, but not necessarily to maturity, and are carried at fair value on the consolidated balance sheets. HTM securities include those securities which the Company has both the positive intent and ability to hold to maturity, and are carried at amortized cost on the consolidated balance sheets. The amortized cost and fair value of securities available for sale and held to maturity are summarized as follows. December 31, 2022 (in thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Securities AFS: U.S. Treasury securities $ 192,116 $ — $ 8,286 $ 183,830 U.S. government agency securities 2,133 — 33 2,100 State, county and municipals 433,733 123 35,668 398,188 Mortgage-backed securities 227,650 10 26,728 200,932 Corporate debt securities 140,712 3 8,147 132,568 $ 996,344 $ 136 $ 78,862 $ 917,618 Securities HTM: U.S. Treasury securities $ 497,648 $ — $ 35,722 $ 461,926 U.S. government agency securities 8,744 46 — 8,790 State, county and municipals 34,874 — 3,349 31,525 Mortgage-backed securities 137,862 — 16,751 121,111 $ 679,128 $ 46 $ 55,822 $ 623,352 December 31, 2021 (in thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Securities AFS: U.S. Treasury securities $ 191,507 $ — $ 1,235 $ 190,272 U.S. government agency securities 999 6 — 1,005 State, county and municipals 311,717 3,222 2,202 312,737 Mortgage-backed securities 270,017 3,090 1,845 271,262 Corporate debt securities 143,172 3,459 246 146,385 $ 917,412 $ 9,777 $ 5,528 $ 921,661 Securities HTM: U.S. Treasury securities $ 496,939 $ — $ 2,738 $ 494,201 U.S. government agency securities 11,871 — 2 11,869 State, county and municipals 42,876 10 173 42,713 Mortgage-backed securities 100,117 89 595 99,611 $ 651,803 $ 99 $ 3,508 $ 648,394 All mortgage-backed securities included in the tables above were issued by U.S. government agencies and corporations. Securities with a fair value of $883 million and $277 million as of December 31, 2022 and 2021, respectively, were pledged as collateral to secure public deposits and borrowings, as applicable, and for liquidity or other purposes as required by regulation. Accrued interest on securities totaled $6 million and $5 million at December 31, 2022 and 2021, respectively, and is included in accrued interest receivable and other assets on the consolidated balance sheets. The following tables present gross unrealized losses and the related estimated fair value of investment securities for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time the individual securities have been in a continuous unrealized loss position. December 31, 2022 Less than 12 months 12 months or more Total ($ in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Number of Securities Securities AFS: U.S. Treasury securities $ 448 $ 14 $ 183,382 $ 8,272 $ 183,830 $ 8,286 9 U.S. government agency securities 2,083 32 17 1 2,100 33 9 State, county and municipals 277,546 18,041 86,569 17,627 364,115 35,668 812 Mortgage-backed securities 102,108 11,320 95,614 15,408 197,722 26,728 376 Corporate debt securities 114,887 6,186 12,938 1,961 127,825 8,147 90 $ 497,072 $ 35,593 $ 378,520 $ 43,269 $ 875,592 $ 78,862 1,296 Securities HTM: U.S. Treasury securities $ — $ — $ 461,926 $ 35,722 $ 461,926 $ 35,722 6 State, county and municipals 17,591 1,594 11,654 1,755 29,245 3,349 58 Mortgage-backed securities 68,108 8,029 53,003 8,722 121,111 16,751 106 $ 85,699 $ 9,623 $ 526,583 $ 46,199 $ 612,282 $ 55,822 170 December 31, 2021 Less than 12 months 12 months or more Total ($ in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Number of Securities Securities AFS: U.S. Treasury securities $ 190,272 $ 1,235 $ — $ — $ 190,272 $ 1,235 8 U.S. government agency securities 160 — — — 160 — 3 State, county and municipals 103,950 2,119 1,777 83 105,727 2,202 132 Mortgage-backed securities 137,561 1,616 6,068 229 143,629 1,845 159 Corporate debt securities 23,267 246 — — 23,267 246 13 $ 455,210 $ 5,216 $ 7,845 $ 312 $ 463,055 $ 5,528 315 Securities HTM: U.S. Treasury securities $ 494,201 $ 2,738 $ — $ — $ 494,201 $ 2,738 6 U.S. government agency securities 11,737 2 — — 11,737 2 3 State, county and municipals 30,898 173 — — 30,898 173 46 Mortgage-backed securities 69,333 595 — — 69,333 595 72 $ 606,169 $ 3,508 $ — $ — $ 606,169 $ 3,508 127 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. As of December 31, 2022, 2021, and 2020, no allowance for credit losses on securities AFS was recognized. The Company evaluated the securities HTM and determined no allowance for credit losses was necessary at December 31, 2022 and 2021. The U.S. Treasury and U.S. government agency securities are guaranteed by the U.S. government. For the state, county and municipal securities, management considered issuer bond ratings, historical loss rates by bond ratings, whether issuers continue to make timely principal and interest payments per the contractual terms of the investment securities, internal forecasts, and whether or not such investment securities provide insurance, other credit enhancement, or are pre-refunded by the issuers. For the mortgage-backed securities, all such securities were issued by U.S. government agencies and corporations, which are currently explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. The amortized cost and fair value of investment securities 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. As of December 31, 2022 Securities AFS Securities HTM (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in less than one year $ 222,169 $ 218,033 $ 1,774 $ 1,748 Due in one year through five years 172,291 163,466 513,181 476,365 Due after five years through ten years 229,760 203,039 22,600 20,485 Due after ten years 144,474 132,148 3,711 3,643 768,694 716,686 541,266 502,241 Mortgage-backed securities 227,650 200,932 137,862 121,111 Total $ 996,344 $ 917,618 $ 679,128 $ 623,352 Proceeds and realized gains / losses from the sale of securities AFS were as follows. Years Ended December 31, (in thousands) 2022 2021 2020 Gross gains $ 28 $ 5 $ 395 Gross losses (272) (288) — Gains (losses) on sales of securities AFS, net $ (244) $ (283) $ 395 Proceeds from sales of securities AFS * $ 28,438 $ 42,973 $ 19,045 * Includes proceeds of $21 million recognized on the sale of securities AFS upon acquisition of Charter for which no gain or loss was recognized in the income statement as the investment securities were marked to fair value through purchase accounting. Other Investments Other investments include “restricted” equity securities, equity securities with readily determinable fair values, and private company securities. The carrying value of other investments are summarized as follows. (in thousands) December 31, 2022 December 31, 2021 Federal Reserve Bank stock $ 32,219 $ 20,973 FHLB stock 18,625 10,545 Equity securities with readily determinable fair values 4,376 5,660 Other investments 10,066 6,830 Total other investments $ 65,286 $ 44,008

LOANS, ALLOWANCE FOR LOAN LOSSE

LOANS, ALLOWANCE FOR LOAN LOSSES, AND CREDIT QUALITY	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY	LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY Loans : The loan composition was as follows. December 31, 2022 December 31, 2021 (in thousands) Amount % of Total Amount % of Total Commercial & industrial $ 1,304,819 21 % $ 1,042,256 23 % Owner-occupied commercial real estate (“CRE”) 954,599 15 787,189 17 Agricultural 1,088,607 18 794,728 17 Commercial 3,348,025 54 2,624,173 57 CRE investment 1,149,949 19 818,061 18 Construction & land development 318,600 5 213,035 5 Commercial real estate 1,468,549 24 1,031,096 23 Commercial-based loans 4,816,574 78 3,655,269 80 Residential construction 114,392 2 70,353 1 Residential first mortgage 1,016,935 16 713,983 15 Residential junior mortgage 177,332 3 131,424 3 Residential real estate 1,308,659 21 915,760 19 Retail & other 55,266 1 50,807 1 Retail-based loans 1,363,925 22 966,567 20 Loans 6,180,499 100 % 4,621,836 100 % Less ACL-Loans 61,829 49,672 Loans, net $ 6,118,670 $ 4,572,164 ACL-Loans to loans 1.00 % 1.07 % Commercial and industrial loans included $0.2 million and $25 million of PPP loans at December 31, 2022 and December 31, 2021, respectively. Accrued interest on loans totaled $15 million and $11 million at December 31, 2022 and December 31, 2021, respectively, and is included in accrued interest receivable and other assets 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 - loans was as follows. Years Ended December 31, (in thousands) 2022 2021 2020 Beginning balance $ 49,672 $ 32,173 $ 13,972 Adoption of CECL — — 8,488 Initial PCD ACL — — 797 Total impact for adoption of CECL — — 9,285 ACL on PCD loans acquired 1,937 5,159 — Provision for credit losses 10,950 12,500 10,300 Charge-offs (1,033) (513) (1,689) Recoveries 303 353 305 Net (charge-offs) recoveries (730) (160) (1,384) Ending balance $ 61,829 $ 49,672 $ 32,173 The following table presents the balance and activity in the ACL-Loans by portfolio segment. Year Ended December 31, 2022 (in thousands) Commercial Owner- Agricultural CRE Construction & land Residential Residential Residential Retail Total ACL-Loans * Beginning balance $ 12,613 $ 7,222 $ 9,547 $ 8,462 $ 1,812 $ 900 $ 6,844 $ 1,340 $ 932 $ 49,672 ACL on PCD loans 1,408 384 — 38 2 — 93 12 — 1,937 Provision 2,415 2,087 215 4,075 758 512 96 493 299 10,950 Charge-offs (190) (555) — — — — (65) — (223) (1,033) Recoveries 104 — — 169 — — 8 1 21 303 Net (charge-offs) recoveries (86) (555) — 169 — — (57) 1 (202) (730) Ending balance $ 16,350 $ 9,138 $ 9,762 $ 12,744 $ 2,572 $ 1,412 $ 6,976 $ 1,846 $ 1,029 $ 61,829 As % of ACL-Loans 26 % 15 % 16 % 21 % 4 % 2 % 11 % 3 % 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, 2021 (in thousands) Commercial Owner- Agricultural CRE Construction & land Residential Residential Residential Retail Total ACL-Loans * Beginning balance $ 11,644 $ 5,872 $ 1,395 $ 5,441 $ 984 $ 421 $ 4,773 $ 1,086 $ 557 $ 32,173 ACL on PCD loans 723 1,045 2,585 415 103 — 272 13 3 5,159 Provision 196 305 5,615 2,608 725 479 1,892 237 443 12,500 Charge-offs (242) — (48) (4) — — (113) — (106) (513) Recoveries 292 — — 2 — — 20 4 35 353 Net (charge-offs) recoveries 50 — (48) (2) — — (93) 4 (71) (160) Ending balance $ 12,613 $ 7,222 $ 9,547 $ 8,462 $ 1,812 $ 900 $ 6,844 $ 1,340 $ 932 $ 49,672 As % of ACL-Loans 25 % 14 % 19 % 17 % 4 % 2 % 14 % 3 % 2 % 100 % Allowance for Credit Losses-Unfunded Commitments : In addition to the ACL-Loans, the Company has established an ACL-Unfunded Commitments of $3.0 million at December 31, 2022 and $2.4 million at December 31, 2021, classified in accrued interest payable and other liabilities on the consolidated balance sheets. Provision for Credit Losses : The provision for credit losses is determined by the Company as the amount to be added to the ACL loss accounts for various types of financial instruments (including loans, investment securities, and off-balance sheet credit exposures) after net charge-offs have been deducted to bring the ACL to a level that, in management’s judgment, is necessary to absorb expected credit losses over the lives of the respective financial instruments. The following table presents the components of the provision for credit losses. Years Ended December 31, (in thousands) 2022 2021 2020 Provision for credit losses on: Loans $ 10,950 $ 12,500 $ 10,300 Unfunded commitments 550 2,400 — Investment securities — — — Total provision for credit losses $ 11,500 $ 14,900 $ 10,300 Collateral Dependent Loans : 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. December 31, 2022 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 3,475 $ 3,475 $ 1,927 $ 1,548 $ 595 Owner-occupied CRE 4,907 — 4,907 4,699 208 53 Agricultural 13,758 6,458 20,216 14,358 5,858 261 CRE investment 2,713 — 2,713 979 1,734 212 Construction & land development 670 — 670 670 — — Residential construction — — — — — — Residential first mortgage 91 — 91 91 — — Residential junior mortgage — — — — — — Retail & other — — — — — — Total loans $ 22,139 $ 9,933 $ 32,072 $ 22,724 $ 9,348 $ 1,121 December 31, 2021 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 2,296 $ 2,296 $ 1,842 $ 454 $ 258 Owner-occupied CRE 3,537 — 3,537 1,315 2,222 552 Agricultural 19,637 8,518 28,155 25,310 2,845 841 CRE investment 3,000 — 3,000 1,684 1,316 407 Construction & land development 1,038 — 1,038 655 383 211 Residential construction — — — — — — Residential first mortgage 473 — 473 473 — — Residential junior mortgage — — — — — — Retail & other — — — — — — Total loans $ 27,685 $ 10,814 $ 38,499 $ 31,279 $ 7,220 $ 2,269 Past Due and Nonaccrual Loans : The following tables present past due loans by portfolio segment. December 31, 2022 (in thousands) 30-89 Days Past 90 Days & Over Current Total Commercial & industrial $ 210 $ 3,328 $ 1,301,281 $ 1,304,819 Owner-occupied CRE 833 5,647 948,119 954,599 Agricultural 20 20,416 1,068,171 1,088,607 CRE investment — 3,832 1,146,117 1,149,949 Construction & land development — 771 317,829 318,600 Residential construction — — 114,392 114,392 Residential first mortgage 3,628 3,780 1,009,527 1,016,935 Residential junior mortgage 236 224 176,872 177,332 Retail & other 261 82 54,923 55,266 Total loans $ 5,188 $ 38,080 $ 6,137,231 $ 6,180,499 Percent of total loans 0.1 % 0.6 % 99.3 % 100.0 % December 31, 2021 (in thousands) 30-89 Days Past 90 Days & Over Current Total Commercial & industrial $ 94 $ 1,908 $ 1,040,254 $ 1,042,256 Owner-occupied CRE — 4,220 782,969 787,189 Agricultural 108 28,367 766,253 794,728 CRE investment 114 4,119 813,828 818,061 Construction & land development — 1,071 211,964 213,035 Residential construction 246 — 70,107 70,353 Residential first mortgage 2,592 4,132 707,259 713,983 Residential junior mortgage 23 243 131,158 131,424 Retail & other 115 94 50,598 50,807 Total loans $ 3,292 $ 44,154 $ 4,574,390 $ 4,621,836 Percent of total loans 0.1 % 0.9 % 99.0 % 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. Total Nonaccrual Loans (in thousands) December 31, 2022 % to Total December 31, 2021 % to Total Commercial & industrial $ 3,328 9 % $ 1,908 4 % Owner-occupied CRE 5,647 15 4,220 10 Agricultural 20,416 53 28,367 64 CRE investment 3,832 10 4,119 9 Construction & land development 771 2 1,071 3 Residential construction — — — — Residential first mortgage 3,780 10 4,132 9 Residential junior mortgage 224 1 243 1 Retail & other 82 — 94 — Nonaccrual loans $ 38,080 100 % $ 44,154 100 % Percent of total loans 0.6 % 0.9 % Credit Quality Information : The following tables present total loans by risk categories and year of origination. Loans acquired from Charter, Mackinac and County have been included in the December 31, 2022 and December 31, 2021 tables based upon the actual origination date. December 31, 2022 Amortized Cost Basis by Origination Year (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Revolving to Term TOTAL Commercial & industrial Grades 1-4 $ 317,394 $ 226,065 $ 101,374 $ 68,884 $ 50,189 $ 77,589 $ 360,978 $ — $ 1,202,473 Grade 5 9,938 5,902 10,811 1,530 3,986 4,562 20,617 — 57,346 Grade 6 1,459 2,283 629 511 402 11,653 14,047 — 30,984 Grade 7 556 293 3,211 2,990 775 1,070 5,121 — 14,016 Total $ 329,347 $ 234,543 $ 116,025 $ 73,915 $ 55,352 $ 94,874 $ 400,763 $ — $ 1,304,819 Owner-occupied CRE Grades 1-4 $ 151,391 $ 190,313 $ 105,156 $ 100,606 $ 91,479 $ 252,574 $ 6,734 $ — $ 898,253 Grade 5 5,241 3,192 4,287 2,163 4,791 14,632 348 — 34,654 Grade 6 — — 763 2,361 — 877 — — 4,001 Grade 7 227 706 6,344 616 — 9,798 — — 17,691 Total $ 156,859 $ 194,211 $ 116,550 $ 105,746 $ 96,270 $ 277,881 $ 7,082 $ — $ 954,599 Agricultural Grades 1-4 $ 275,208 $ 145,272 $ 85,413 $ 25,463 $ 19,687 $ 130,849 $ 249,033 $ — $ 930,925 Grade 5 13,295 18,178 2,694 1,992 517 43,927 21,199 — 101,802 Grade 6 115 1,457 28 33 — 5,258 429 — 7,320 Grade 7 7,165 2,632 720 1,977 4,611 19,948 11,507 — 48,560 Total $ 295,783 $ 167,539 $ 88,855 $ 29,465 $ 24,815 $ 199,982 $ 282,168 $ — $ 1,088,607 CRE investment Grades 1-4 $ 205,930 $ 229,252 $ 192,527 $ 134,301 $ 79,649 $ 248,595 $ 11,383 $ — $ 1,101,637 Grade 5 567 1,649 3,578 4,266 3,086 24,897 — — 38,043 Grade 6 — — — 1,170 2,396 2,483 206 — 6,255 Grade 7 — — 121 299 245 3,140 209 — 4,014 Total $ 206,497 $ 230,901 $ 196,226 $ 140,036 $ 85,376 $ 279,115 $ 11,798 $ — $ 1,149,949 Construction & land development Grades 1-4 $ 104,804 $ 140,727 $ 12,188 $ 9,747 $ 23,811 $ 13,138 $ 13,235 $ — $ 317,650 Grade 5 37 — — 14 — 95 — — 146 Grade 6 — — — — — — — — — Grade 7 33 — — — — 771 — — 804 Total $ 104,874 $ 140,727 $ 12,188 $ 9,761 $ 23,811 $ 14,004 $ 13,235 $ — $ 318,600 Residential construction Grades 1-4 $ 92,417 $ 16,774 $ 966 $ 123 $ 336 $ 229 $ 3,547 $ — $ 114,392 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 92,417 $ 16,774 $ 966 $ 123 $ 336 $ 229 $ 3,547 $ — $ 114,392 Residential first mortgage Grades 1-4 $ 318,628 $ 272,011 $ 147,857 $ 68,975 $ 31,208 $ 162,153 $ 2,080 $ 3 $ 1,002,915 Grade 5 1,494 758 997 1,803 2,272 465 — — 7,789 Grade 6 — — — 711 — — — — 711 Grade 7 154 329 188 349 197 4,303 — — 5,520 Total $ 320,276 $ 273,098 $ 149,042 $ 71,838 $ 33,677 $ 166,921 $ 2,080 $ 3 $ 1,016,935 Residential junior mortgage Grades 1-4 $ 10,119 $ 4,580 $ 5,207 $ 3,151 $ 1,573 $ 3,409 $ 142,784 $ 5,762 $ 176,585 Grade 5 — — — — — 143 165 — 308 Grade 6 — — — — — — — — — Grade 7 — 206 — — — 24 209 — 439 Total $ 10,119 $ 4,786 $ 5,207 $ 3,151 $ 1,573 $ 3,576 $ 143,158 $ 5,762 $ 177,332 Retail & other Grades 1-4 $ 12,318 $ 8,957 $ 4,221 $ 3,188 $ 1,035 $ 24,950 $ 492 $ — $ 55,161 Grade 5 — 23 — — — — — — 23 Grade 6 — — — — — — — — — Grade 7 — 23 22 2 30 5 — — 82 Total $ 12,318 $ 9,003 $ 4,243 $ 3,190 $ 1,065 $ 24,955 $ 492 $ — $ 55,266 Total loans $ 1,528,490 $ 1,271,582 $ 689,302 $ 437,225 $ 322,275 $ 1,061,537 $ 864,323 $ 5,765 $ 6,180,499 December 31, 2021 Amortized Cost Basis by Origination Year (in thousands) 2021 2020 2019 2018 2017 Prior Revolving Revolving to Term TOTAL Commercial & industrial Grades 1-4 $ 282,369 $ 146,131 $ 99,702 $ 69,478 $ 50,557 $ 71,247 $ 288,115 $ — $ 1,007,599 Grade 5 1,685 1,905 4,369 5,809 4,860 2,097 8,408 — 29,133 Grade 6 598 54 16 687 67 91 391 — 1,904 Grade 7 — 440 692 337 976 743 432 — 3,620 Total $ 284,652 $ 148,530 $ 104,779 $ 76,311 $ 56,460 $ 74,178 $ 297,346 $ — $ 1,042,256 Owner-occupied CRE Grades 1-4 $ 154,578 $ 94,300 $ 105,226 $ 92,128 $ 75,583 $ 202,816 $ 6,945 $ — $ 731,576 Grade 5 7,753 3,019 6,529 2,543 2,515 13,905 656 — 36,920 Grade 6 — — 1,642 — 20 805 — — 2,467 Grade 7 — 3,124 1,914 — 3,526 6,672 990 — 16,226 Total $ 162,331 $ 100,443 $ 115,311 $ 94,671 $ 81,644 $ 224,198 $ 8,591 $ — $ 787,189 Agricultural Grades 1-4 $ 128,404 $ 87,844 $ 28,416 $ 22,887 $ 36,298 $ 86,104 $ 235,743 $ — $ 625,696 Grade 5 14,796 4,183 2,391 915 3,912 48,373 26,778 — 101,348 Grade 6 38 38 36 — 86 1,049 85 — 1,332 Grade 7 3,284 3,971 3,490 4,201 7,215 31,672 12,519 — 66,352 Total $ 146,522 $ 96,036 $ 34,333 $ 28,003 $ 47,511 $ 167,198 $ 275,125 $ — $ 794,728 CRE investment Grades 1-4 $ 192,274 $ 139,127 $ 136,306 $ 56,148 $ 65,026 $ 162,991 $ 11,289 $ — $ 763,161 Grade 5 11,081 3,001 6,497 3,945 6,726 17,527 — — 48,777 Grade 6 — — — — — — — — — Grade 7 — — 456 141 1,352 3,943 231 — 6,123 Total $ 203,355 $ 142,128 $ 143,259 $ 60,234 $ 73,104 $ 184,461 $ 11,520 $ — $ 818,061 Construction & land development Grades 1-4 $ 81,891 $ 72,415 $ 12,547 $ 19,511 $ 1,184 $ 11,274 $ 10,943 $ — $ 209,765 Grade 5 640 — 521 919 — 119 — — 2,199 Grade 6 — — — — — — — — — Grade 7 — — — — 17 1,054 — — 1,071 Total $ 82,531 $ 72,415 $ 13,068 $ 20,430 $ 1,201 $ 12,447 $ 10,943 $ — $ 213,035 Residential construction Grades 1-4 $ 58,352 $ 9,998 $ 155 $ 344 $ 1,072 $ 380 $ — $ — $ 70,301 Grade 5 — — 52 — — — — — 52 Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 58,352 $ 9,998 $ 207 $ 344 $ 1,072 $ 380 $ — $ — $ 70,353 Residential first mortgage Grades 1-4 $ 256,082 $ 152,932 $ 168,705 $ 22,568 $ 20,147 $ 82,479 $ 1,840 $ 4 $ 704,757 Grade 5 713 529 3,094 — — 1,508 — — 5,844 Grade 6 — — — — — — — — — Grade 7 — — 560 225 73 2,524 — — 3,382 Total $ 256,795 $ 153,461 $ 172,359 $ 22,793 $ 20,220 $ 86,511 $ 1,840 $ 4 $ 713,983 Residential junior mortgage Grades 1-4 $ 3,194 $ 3,139 $ 3,021 $ 1,501 $ 512 $ 1,969 $ 115,817 $ 1,426 $ 130,579 Grade 5 — — 29 — — — 439 — 468 Grade 6 — — — — — — — — — Grade 7 — — 172 — 23 44 138 — 377 Total $ 3,194 $ 3,139 $ 3,222 $ 1,501 $ 535 $ 2,013 $ 116,394 $ 1,426 $ 131,424 Retail & other Grades 1-4 $ 13,676 $ 6,886 $ 5,826 $ 2,053 $ 1,882 $ 20,102 $ 275 $ — $ 50,700 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — 24 2 19 — 62 — — 107 Total $ 13,676 $ 6,910 $ 5,828 $ 2,072 $ 1,882 $ 20,164 $ 275 $ — $ 50,807 Total loans $ 1,211,408 $ 733,060 $ 592,366 $ 306,359 $ 283,629 $ 771,550 $ 722,034 $ 1,430 $ 4,621,836 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 monitored by the loan review function to help 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: Loans are considered troubled debt restructurings if concessions have been granted to borrowers who are experiencing financial difficulties. The following table presents the loan composition of nonaccrual and performing TDRs. December 31, 2022 December 31, 2021 (in thousands) Performing Nonaccrual Total Performing Nonaccrual Total Commercial & industrial $ — $ 261 $ 261 $ — $ 197 $ 197 Owner-occupied CRE — 2,377 2,377 3,466 2,888 6,354 Agricultural — 15,037 15,037 — 16,835 16,835 CRE investment — 293 293 918 — 918 Construction & land development — 75 75 — 308 308 Residential first mortgage — 12 12 913 15 928 Residential junior mortgage — — — 146 — 146 Total $ — $ 18,055 $ 18,055 $ 5,443 $ 20,243 $ 25,686 The following table presents the number of loans modified in a TDR, pre-modification loan balance, and post-modification loan balance by loan composition. December 31, 2022 December 31, 2021 ($ in thousands) Number of Loans Pre-Modification Balance Current Balance Number of Loans Pre-Modification Balance Current Balance Commercial & industrial 3 $ 349 $ 261 2 $ 200 $ 197 Owner-occupied CRE 4 5,471 2,377 6 6,913 6,354 Agricultural 29 17,405 15,037 31 17,228 16,835 CRE investment 1 296 293 1 919 918 Construction & land development 1 533 75 1 533 308 Residential first mortgage 1 17 12 2 931 928 Residential junior mortgage — — — 1 166 146 Total 39 $ 24,071 $ 18,055 44 $ 26,890 $ 25,686 TDR concessions may include payment schedule modifications, interest rate concessions, maturity date extensions, bankruptcies, or some combination of these concessions. There were no loans which were classified as troubled debt restructurings during the previous twelve months that subsequently defaulted during 2022. As of December 31, 2022, there were no commitments to lend additional funds to debtors whose terms have been modified in troubled debt restructurings.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT Premises and equipment, less accumulated depreciation and amortization, is summarized as follows. (in thousands) December 31, 2022 December 31, 2021 Land $ 14,841 $ 10,806 Land improvements 5,361 3,896 Building and improvements 89,630 79,754 Leasehold improvements 7,079 6,514 Furniture and equipment 35,717 30,741 152,628 131,711 Less accumulated depreciation and amortization 43,672 37,145 Premises and equipment, net $ 108,956 $ 94,566 Depreciation and amortization expense was $7.6 million in 2022, $5.0 million in 2021, and $4.4 million in 2020. The Company and certain of its subsidiaries are obligated under non-cancelable operating leases for facilities, certain of which provide for rental adjustments based upon increases in cost of living adjustments and other indices. Rent expense under leases totaled $2.2 million in 2022, $1.3 million in 2021, and $1.0 million in 2020. Nicolet leases space under non-cancelable operating lease agreements for certain bank branch facilities with remaining lease terms of 1 to 8 years. Certain lease arrangements contain extension options which typically range from 5 to 10 years at the then fair market rental rates. The lease asset and liability considers renewal options when they are reasonably certain of being exercised. A summary of net lease cost and selected other information related to operating leases was as follows. Years Ended ($ in thousands) December 31, 2022 December 31, 2021 December 31, 2020 Net lease cost: Operating lease cost $ 1,778 $ 1,018 $ 834 Variable lease cost 448 234 169 Net lease cost $ 2,226 $ 1,252 $ 1,003 Selected other operating lease information: Weighted average remaining lease term (years) 5.4 6.3 5.1 Weighted average discount rate 2.3 % 1.5 % 2.0 % The following table summarizes the maturity of remaining lease liabilities. Years Ending December 31, (in thousands) 2023 $ 2,437 2024 2,200 2025 1,876 2026 1,688 2027 1,519 Thereafter 1,417 Total future minimum lease payments 11,137 Less: amount representing interest (252) Present value of net future minimum lease payments $ 10,885

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS	GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS Goodwill and other intangibles are periodically reviewed for impairment. Factors management considered in this review included the overall financial performance of the Company, as well as changes in the Company’s common stock price relative to its book value per common share. Management also regularly monitors economic factors for potential impairment indications on the value of our franchise, stability of deposits, and wealth client base, underlying our goodwill and other intangibles. Management concluded no impairment was indicated for 2022 or 2021. A summary of goodwill and other intangibles was as follows. (in thousands) December 31, 2022 December 31, 2021 Goodwill $ 367,387 $ 317,189 Core deposit intangibles 32,701 19,445 Customer list intangibles 2,350 2,858 Other intangibles 35,051 22,303 Goodwill and other intangibles, net $ 402,438 $ 339,492 Goodwill : Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis or more frequently if certain events or circumstances occur. During 2022, goodwill increased due to the acquisition of Charter, while during 2021 goodwill increased due to the acquisitions of Mackinac and County. (in thousands) December 31, 2022 December 31, 2021 Goodwill: Goodwill at beginning of year $ 317,189 $ 163,151 Acquisitions 49,970 154,038 Purchase accounting adjustment 228 — Goodwill at end of year $ 367,387 $ 317,189 Other intangibles : Other intangible assets, consisting of core deposit intangibles and customer list intangibles, are amortized over their estimated finite lives. During 2022, core deposit intangibles increased due to the acquisition of Charter, while during 2021, core deposit intangibles increased due to the acquisitions of Mackinac and County. (in thousands) December 31, 2022 December 31, 2021 Core deposit intangibles: Gross carrying amount $ 60,724 $ 41,360 Accumulated amortization (28,023) (21,915) Net book value $ 32,701 $ 19,445 Additions during the period $ 19,364 $ 13,595 Amortization during the period $ 6,108 $ 2,987 Customer list intangibles: Gross carrying amount $ 5,523 $ 5,523 Accumulated amortization (3,173) (2,665) Net book value $ 2,350 $ 2,858 Amortization during the period $ 508 $ 507 Mortgage servicing rights : A summary of the changes in the MSR asset was as follows. (in thousands) December 31, 2022 December 31, 2021 MSR asset: MSR asset at beginning of year $ 13,636 $ 10,230 Capitalized MSR 2,327 4,329 MSR asset acquired — 1,322 Amortization during the period (2,883) (2,245) MSR asset at end of year $ 13,080 $ 13,636 Valuation allowance at beginning of year $ (1,200) $ (1,000) Additions — (500) Reversals 700 300 Valuation allowance at end of year $ (500) $ (1,200) MSR asset, net $ 12,580 $ 12,436 Fair value of MSR asset at end of period $ 17,215 $ 15,599 Residential mortgage loans serviced for others $ 1,637,109 $ 1,583,577 Net book value of MSR asset to loans serviced for others 0.77 % 0.79 % 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 stratification based on the risk characteristics of the underlying loans (predominantly loan type and note interest rate). Loan servicing rights : The Company acquired an LSR asset in connection with its acquisition of County on December 3, 2021. The LSR asset will be amortized over the estimated remaining loan service period as the Company does not expect to add new loans to this servicing portfolio. A summary of the changes in the LSR asset was as follows. (in thousands) December 31, 2022 December 31, 2021 LSR asset: LSR asset at beginning of year $ 20,055 $ — LSR asset acquired — 20,055 Amortization during the period (9,016) — LSR asset at end of year $ 11,039 $ 20,055 Agricultural loans serviced for others $ 538,392 $ 793,655 The following table shows the estimated future amortization expense for amortizing intangible assets and servicing assets. The projections are based on existing asset balances, the current interest rate environment and prepayment speeds as of December 31, 2022. 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 LSR asset Years Ending December 31, 2023 $ 7,589 $ 483 $ 2,402 $ 2,208 2024 6,298 449 2,657 1,962 2025 5,161 449 1,913 1,717 2026 3,983 249 1,414 1,472 2027 3,218 166 1,413 1,227 Thereafter 6,452 554 3,281 2,453 Total $ 32,701 $ 2,350 $ 13,080 $ 11,039

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
OTHER REAL ESTATE OWNED	OTHER REAL ESTATE OWNED A summary of OREO, which is included in other assets in the consolidated balance sheets, for the periods indicated was as follows. Years Ended December 31, (in thousands) 2022 2021 Balance at beginning of period $ 11,955 $ 3,608 Transfer in loans at net realizable value 183 334 Transfer in former bank branch properties at net realizable value 25 7,843 Sales proceeds (13,150) (2,743) Net gain from sales 3,206 597 Write-downs (244) (28) Acquired balance, net — 2,344 Balance at end of period $ 1,975 $ 11,955

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2022
Deposits [Abstract]
DEPOSITS	DEPOSITS The deposit composition was as follows. December 31, 2022 December 31, 2021 (in thousands) Amount % of Total Amount % of Total Noninterest-bearing demand $ 2,361,816 33 % $ 1,975,705 31 % Interest-bearing demand 1,279,850 18 % 1,272,858 20 % Money market 1,707,619 24 % 1,561,966 24 % Savings 931,417 13 % 803,197 12 % Time 898,219 12 % 852,190 13 % Total deposits $ 7,178,921 100 % $ 6,465,916 100 % At December 31, 2022, the scheduled maturities of time deposits were as follows. Years Ending December 31, (in thousands) 2023 $ 464,568 2024 288,059 2025 112,284 2026 20,321 2027 12,217 Thereafter 770 Total time deposits $ 898,219

SHORT AND LONG-TERM BORROWINGS

SHORT AND LONG-TERM BORROWINGS	12 Months Ended
	Dec. 31, 2022
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 contractual maturity of one year or less. At December 31, 2022, short-term borrowings included $317 million of short-term FHLB advances, comprised of $117 million due in January 2023 at a weighted average rate of 4.29% and $200 million due in September 2023 at a weighted average rate of 4.30%. The Company did not have any short-term borrowings outstanding at December 31, 2021. Long-Term Borrowings: Long-term borrowings include any borrowing with an original contractual maturity greater than one year. The components of long-term borrowings were as follows. (in thousands) December 31, 2022 December 31, 2021 FHLB advances $ 33,000 $ 25,000 Junior subordinated debentures 39,720 38,885 Subordinated notes 152,622 153,030 Total long-term borrowings $ 225,342 $ 216,915 FHLB Advances : The FHLB advances bear fixed rates, require interest-only monthly payments, and have maturity dates through March 2030. The weighted average rate of the FHLB advances was 1.09% and 0.59% at December 31, 2022 and 2021, respectively. The FHLB advances are collateralized by a blanket lien on qualifying residential first and junior mortgage loans which had a pledged balance of $665 million and $522 million at December 31, 2022 and 2021, respectively. In addition, $500 million of U.S. Treasury Notes were pledged to the FHLB at December 31, 2022, compared to none at December 31, 2021. The following table shows the maturity schedule of the FHLB advances as of December 31, 2022. Maturing in: (in thousands) 2023 $ — 2024 — 2025 5,000 2026 — 2027 — Thereafter 28,000 $ 33,000 Junior Subordinated Debentures : Each of the junior subordinated debentures was issued to an underlying statutory trust (the “statutory trusts”), which issued trust preferred securities and common securities and used the proceeds from the issuance of the common and the trust preferred securities to purchase the junior subordinated debentures of the Company. The debentures represent the sole asset of the statutory trusts. All of the common securities of the statutory trusts are owned by the Company. The statutory trusts are not included in the consolidated financial statements. The net effect of all the documents entered into with respect to the trust preferred securities is that the Company, through payments on its debentures, is liable for the distributions and other payments required on the trust preferred securities. 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 debenture. All the junior subordinated debentures are currently callable and may be redeemed in part or in full, at par, plus any accrued but unpaid interest. At December 31, 2022 and 2021, $38 million and $37 million, respectively, of trust preferred securities qualify as Tier 1 capital. Subordinated Notes (the “Notes”) : In July 2021, the Company completed the private placement of $100 million in fixed-to-floating rate subordinated notes due in 2031, with a fixed annual rate of 3.125% for the first five years, and will reset quarterly thereafter to the then current three-month Secured Overnight Financing Rate (“SOFR”) plus 237.5 basis points. The Notes, due in 2031, are redeemable beginning July 15, 2026 and quarterly thereafter on any interest payment date. In December 2021, Nicolet assumed two subordinated note issuances at a premium as the result of the County acquisition. One issuance was $30 million in fixed-to-floating rate subordinated notes due in 2028, with a fixed annual interest rate of 5.875% for the first five years, and will reset quarterly thereafter to the then current three-month LIBOR plus 2.88%. The second issuance was $22 million in fixed-to-floating rate subordinated notes due in 2030, with a fixed annual interest rate of 7.00% for the first five years, and will reset quarterly thereafter to the then current SOFR plus 687.5 basis points. The Notes due in 2028 are redeemable beginning June 1, 2023, and quarterly thereafter on any interest payment date, while the Notes due in 2030 are redeemable beginning June 30, 2025, and quarterly thereafter on any interest payment date. All Notes qualify as Tier 2 capital for regulatory purposes. The following table shows the breakdown of junior subordinated debentures and subordinated notes. As of 12/31/2022 As of 12/31/2021 (in thousands) Maturity Interest Par Unamortized Premium /(Discount) / Debt Issue Costs (1) Carrying Interest Carrying Junior Subordinated Debentures: Mid-Wisconsin Statutory Trust I (2) 12/15/2035 6.20 % $ 10,310 $ (2,576) $ 7,734 1.63 % $ 7,537 Baylake Capital Trust II (3) 9/30/2036 6.08 % 16,598 (3,174) 13,424 1.57 % 13,187 First Menasha Statutory Trust (4) 3/17/2034 7.53 % 5,155 (487) 4,668 3.01 % 4,624 County Bancorp Statutory Trust II (5) 9/15/2035 6.30 % 6,186 (909) 5,277 1.73 % 5,061 County Bancorp Statutory Trust III (6) 6/15/2036 6.46 % 6,186 (967) 5,219 1.89 % 5,121 Fox River Valley Capital Trust (7) 5/30/2033 6.40 % 3,610 (212) 3,398 6.40 % 3,355 Total $ 48,045 $ (8,325) $ 39,720 $ 38,885 Subordinated Notes: Subordinated Notes due 2031 7/15/2031 3.13 % $ 100,000 $ (733) $ 99,267 3.13 % $ 99,057 County Subordinated Notes due 2028 6/1/2028 5.88 % 30,000 119 30,119 5.88 % 30,402 County Subordinated Notes due 2030 6/30/2030 7.00 % 22,400 836 23,236 7.00 % 23,571 Total $ 152,400 $ 222 $ 152,622 $ 153,030 1. Represents the remaining unamortized premium or discount on debt issuances assumed in acquisitions, and represents the unamortized debt issue costs for the debt issued directly by Nicolet. 2. The debentures, assumed in April 2013 as the result of an acquisition, have a floating rate of three-month LIBOR plus 1.43%, adjusted quarterly. 3. The debentures, assumed in April 2016 as a result of an acquisition, have a floating rate of three-month LIBOR plus 1.35%, adjusted quarterly. 4. The debentures, assumed in April 2017 as the result of an acquisition, have a floating rate of three-month LIBOR plus 2.79%, adjusted quarterly. 5. The debentures, assumed in December 2021 as the result of an acquisition, have a floating rate of three-month LIBOR plus 1.53%, adjusted quarterly. 6. The debentures, assumed in December 2021 as the result of an acquisition, have a floating rate of three-month LIBOR plus 1.69%, adjusted quarterly. 7. The debentures, assumed in December 2021 as the result of an acquisition, have a floating rate of 5-year LIBOR plus 3.40%, which resets every five years.

EMPLOYEE AND DIRECTOR BENEFIT P

EMPLOYEE AND DIRECTOR BENEFIT PLANS	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
EMPLOYEE AND DIRECTOR BENEFIT PLANS	EMPLOYEE AND DIRECTOR BENEFIT PLANS Nonqualified deferred compensation plans : The Company sponsors two deferred compensation plans, one for certain key management employees and another for directors. Under the management plan, employees designated by the Board of Directors may elect to defer compensation and the Company may at its discretion make nonelective contributions on behalf of one or more eligible plan participants. Upon retirement, termination of employment or at their election, the employee shall become entitled to receive the deferred amounts plus earnings thereon. The liability for the cumulative employee and employer contributions, including earnings thereon, at December 31, 2022 and 2021 totaled approximately $12.1 million and $12.7 million, respectively, and is included in other liabilities on the consolidated balance sheets. The Company recorded discretionary contributions of $2.4 million to selected participants during 2022, with approximately half vesting over a two year period (of which, one-third vested immediately and one-third vests on each of the first and second anniversaries of the initial grant) and the remainder vested immediately. In comparison, the Company recorded discretionary contributions of $5.7 million to selected participants during 2021, which vested immediately. The expense related to these discretionary contributions is recognized over the vesting period of the related grant. Under the director plan, participating directors may defer up to 100% of their Board compensation towards the purchase of Company common stock at market prices on a quarterly basis that is held in a Rabbi Trust and distributed when each such participating director ends his or her board service. During 2022 and 2021, the director plan purchased 1,898 and 1,018 shares of Company common stock valued at approximately $154,000 and $73,000, respectively. Common stock valued at approximately $366,000 (and representing 4,737 shares) was distributed to past directors during 2021 and no common stock was distributed during 2022. The common stock outstanding and the related director deferred compensation liability are offsetting components of the Company’s equity in the amount of $1.2 million at December 31, 2022 and $1.1 million at December 31, 2021 representing 29,660 shares and 27,762 shares, respectively. Nicolet 401(k) plan: The Company sponsors a 401(k) savings plan under which eligible employees may choose to save up to 100% of salary compensation on either a pre-tax or after-tax basis, subject to certain IRS limits. Under the plan, the Company matches 100% of participating employee contributions up to 6% of the participant’s eligible compensation. The Company contribution vests over five years. The Company can make additional annual discretionary profit sharing contributions, as determined by the Board of Directors. During 2022, 2021 and 2020, the Company’s 401(k) expense was approximately $4.0 million (including a $1.0 million profit sharing contribution), $2.5 million (including a $0.5 million profit sharing contribution), and $2.2 million (including a $0.5 million profit sharing contribution), respectively. Employee stock purchase plan: The Company sponsors an employee stock purchase plan under which eligible employees may purchase Nicolet common stock at a 10% discount, utilizing payroll deductions that range from a minimum of $20 to a maximum of $400 per payroll, during offering periods (currently quarterly).

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
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. The Company’s stock-based compensation plans at December 31, 2022 are described below. 2011 Long-Term Incentive Plan (“2011 LTIP”) : The Company’s 2011 LTIP, as subsequently amended with shareholder approval, has reserved 3,000,000 shares of the Company’s common stock for potential stock-based awards. This plan provides for certain stock-based awards such as, but not limited to, stock options, stock appreciation rights and restricted common stock, as well as cash performance awards. As of December 31, 2022, approximately 0.7 million shares were available for grant under this plan. Stock option grants generally will expire ten years after the date of grant, have an exercise price equal to the Company’s closing stock price on the date of grant, and will become exercisable based upon vesting terms determined by the committee. Restricted stock grants generally are issued at the Company’s closing stock price on the date of grant, are restricted as to transfer, but are not restricted as to dividend payments or voting rights, and the transfer restrictions lapse over time, depending upon vesting terms provided for in the grant and contingent upon continued employment. A Black-Scholes model is utilized to estimate the fair value of stock option grants. The weighted average assumptions used in the model for valuing stock option grants were as follows. 2022 2021 2020 Dividend yield — % — % — % Expected volatility 30 % 30 % 25 % Risk-free interest rate 3.03 % 1.19 % 1.35 % Expected average life 7 years 7 years 7 years Weighted average per share fair value of options $ 30.99 $ 26.33 $ 20.55 A summary of the Company’s stock option activity is summarized below. Stock Options Option Shares Weighted Average Weighted Average Remaining Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding – December 31, 2019 1,443,733 $ 48.75 Granted 54,500 69.44 Exercise of stock options * (60,773) 26.51 Forfeited — — Outstanding – December 31, 2020 1,437,460 $ 50.47 6.6 $ 23,840 Granted 450,000 77.99 Exercise of stock options * (53,214) 34.40 Forfeited (1,000) 48.85 Outstanding – December 31, 2021 1,833,246 $ 57.69 6.6 $ 51,426 Granted 132,929 81.04 Exercise of stock options * (82,611) 41.84 Forfeited (30,500) 75.08 Outstanding – December 31, 2022 1,853,064 $ 59.79 5.9 $ 37,526 Exercisable – December 31, 2022 1,267,935 $ 51.83 4.8 $ 35,461 *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, and accordingly 7,957 shares, 10,354 shares, and 18,952 shares were surrendered during 2022, 2021, and 2020, respectively. Intrinsic value represents the amount by which the fair value of the underlying stock exceeds the exercise price of the stock options. The intrinsic value of options exercised in 2022, 2021, and 2020 was approximately $3.9 million, $2.2 million, and $2.5 million, respectively. The following options were outstanding at December 31, 2022. Number of Shares Weighted Average Weighted Average Outstanding Exercisable Outstanding Exercisable Outstanding Exercisable $23.80 – $40.00 154,585 154,585 $ 32.21 $ 32.21 2.9 2.9 $40.01 – $50.00 751,450 751,450 48.85 48.85 4.4 4.4 $50.01 – $65.00 163,500 151,400 56.44 56.41 5.1 5.0 $65.01 – $75.00 277,100 135,800 71.02 70.67 7.3 7.0 $75.01 – $94.90 506,429 74,700 79.37 78.77 8.7 8.4 1,853,064 1,267,935 $ 59.79 $ 51.83 5.9 4.8 A summary of the Company’s restricted stock activity is summarized below. Restricted Stock Restricted Shares Weighted Average Grant Outstanding – December 31, 2019 22,521 $ 44.94 Granted 19,672 60.29 Vested * (23,268) 50.90 Forfeited — — Outstanding – December 31, 2020 18,925 $ 53.57 Granted 33,153 75.83 Vested * (25,831) 64.53 Forfeited (446) 41.44 Outstanding – December 31, 2021 25,801 $ 71.42 Granted 72,948 76.81 Vested * (24,659) 72.64 Forfeited (600) 56.01 Outstanding – December 31, 2022 73,490 $ 76.49 *The terms of the restricted stock agreements permit the surrender of shares to the Company upon vesting in order to satisfy applicable tax withholding at the minimum statutory withholding rate, and accordingly 2,249 shares, 3,215 shares, and 4,733 shares were surrendered during 2022, 2021, and 2020, respectively.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY The Board of Directors has authorized the repurchase of Nicolet’s outstanding common stock through its common stock repurchase program. During 2022, $61 million was utilized to repurchase and cancel approximately 672,000 common shares at a weighted average price of $91.54, while during 2021, $61 million was utilized to repurchase and cancel approximately 793,000 common shares at a weighted average price of $77.50. As of December 31, 2022, there remained $48 million authorized under the repurchase program to be utilized from time-to-time to repurchase common shares in the open market, through block transactions or in private transactions. On August 26, 2022, in connection with its acquisition of Charter, the Company issued 1,262,360 shares of its common stock for stock consideration valued at $98 million plus cash consideration of $39 million. On September 3, 2021, in connection with its acquisition of Mackinac, the Company issued 2,337,230 shares of its common stock for stock consideration valued at $180 million plus cash consideration of $49 million. Approximately $0.4 million in direct stock issuance costs for the merger were incurred and charged against additional paid-in capital.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The current and deferred amounts of income tax expense were as follows. Years Ended December 31, (in thousands) 2022 2021 2020 Current $ 44,384 $ 14,138 $ 29,764 Deferred (12,907) 6,332 (9,288) Income tax expense $ 31,477 $ 20,470 $ 20,476 The differences between the income tax expense recognized and the amount computed by applying the statutory federal income tax rate of 21% to the income before income tax expense, less noncontrolling interest, for the years ended as indicated are included in the following table. Years Ended December 31, (in thousands) 2022 2021 2020 Tax on pretax income, less noncontrolling interest, at statutory rates $ 26,405 $ 17,023 $ 16,926 State income taxes, net of federal effect 7,847 5,064 5,030 Tax-exempt interest income (1,037) (517) (513) Increase in cash surrender value life insurance (1,040) (570) (738) Stock-based employee compensation (1,101) (618) (839) Executive compensation 82 163 272 Other, net 321 (75) 338 Income tax expense $ 31,477 $ 20,470 $ 20,476 The net deferred tax asset includes the following amounts of deferred tax assets and liabilities. (in thousands) December 31, 2022 December 31, 2021 Deferred tax assets: ACL-Loans $ 22,379 $ 14,650 Net operating loss carryforwards 2,721 3,800 Compensation 10,274 9,194 Other 1,759 2,605 Other real estate 672 1,364 Basis difference on acquired securities 3,172 — Unrealized loss on securities AFS 21,011 — Total deferred tax assets 61,988 31,613 Deferred tax liabilities: Premises and equipment (3,000) (3,860) Prepaid expenses (801) (1,110) Basis difference on acquired securities — (1,678) Core deposit and other intangibles (8,817) (5,278) Purchase accounting adjustments to liabilities (1,595) (1,725) MSR and LSR assets (6,570) (8,726) Other (513) (2,462) Unrealized gain on securities AFS — (1,392) Total deferred tax liabilities (21,296) (26,231) Net deferred tax assets $ 40,692 $ 5,382 A valuation allowance is required if it is more likely than not that some portion of the deferred tax asset will not be realized. At December 31, 2022 and 2021, no valuation allowance was determined to be necessary. At December 31, 2022, the Company had a federal and state net operating loss carryforward of $8.9 million and $13.8 million, respectively. The entire federal and state net operating loss carryforwards were the result of the Company’s acquisitions. The federal and state net operating loss carryovers resulting from the acquisitions have been included in the IRC section 382 limitation calculation and are being limited to the overall amount expected to be realized.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, financial guarantees, and standby letters of credit. Such commitments may involve, to varying degrees, elements of credit risk in excess of amounts recognized on the consolidated balance sheets. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and issuing letters of credit as they do for on-balance sheet instruments. See Note 1 for the Company’s accounting policy on commitments, contingencies, and the allowance for credit losses-unfunded commitments and see Note 4 for information on the allowance for credit losses-unfunded commitments. A summary of the contract or notional amount of the Company’s exposure to off-balance sheet risk was as follows. (in thousands) December 31, 2022 December 31, 2021 Commitments to extend credit $ 1,850,601 $ 1,433,881 Financial standby letters of credit 26,530 13,562 Performance standby letters of credit 9,375 7,336 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commercial-related commitments to extend credit represented 80% of the total year-end commitments for both 2022 and 2021, respectively, and were predominantly commercial lines of credit that carry a term of one year or less. The commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Financial and performance standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Financial standby letters of credit are issued specifically to facilitate commerce and typically result in the commitment being drawn on when the underlying transaction is consummated between the customer and the third party, while performance standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party. Both of these guarantees are primarily issued to support public and private borrowing arrangements and, generally, have terms of one year or less. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company holds collateral, which may include accounts receivable, inventory, property, equipment, and income-producing properties, supporting those commitments if deemed necessary. In the event the customer does not perform in accordance with the terms of the agreement with the third-party, the Company would be required to fund the commitment. The maximum potential amount of future payments the Company could be required to make is represented by the contractual amount. If the commitment is funded, the Company would be entitled to seek recovery from the customer. Interest rate lock commitments to originate residential mortgage loans held for sale and forward commitments to sell residential mortgage loans held for sale are considered derivative instruments (“mortgage derivatives”) and the contractual amounts were $9 million and $9 million, respectively, at December 31, 2022. In comparison, interest rate lock commitments to originate residential mortgage loans held for sale and forward commitments to sell residential mortgage loans held for sale totaled $50 million and $1 million, respectively, at December 31, 2021. The net fair value of these mortgage derivatives combined was a net gain of $0.1 million at both December 31, 2022 and December 31, 2021. The Company has federal funds lines available with other financial institutions where funds may be borrowed on a short-term basis at the market rate in effect at the time of the borrowing. Federal funds lines of $195 million were available at both December 31, 2022 and December 31, 2021. Nicolet is party to various pending and threatened claims and legal proceedings arising in the normal course of business activities, some of which may involve claims for substantial amounts. Although Nicolet has developed policies and procedures to minimize legal noncompliance and the impact of claims and other proceedings and endeavored to procure reasonable amounts of insurance coverage, litigation and regulatory actions present an ongoing risk. With respect to all such claims, Nicolet continuously assesses its potential liability based on the allegations and evidence available. If the facts indicate that it is probable that Nicolet will incur a loss and the amount of such loss can be reasonably estimated, Nicolet will establish an accrual for the probable loss. For matters where a loss is not probable, or the amount of the loss cannot be reasonably estimated, Nicolet does not establish an accrual. Nicolet believes it has meritorious defenses to any pending claims and intends to defend itself vigorously. That aside, Nicolet also acknowledges that final resolution of legal claims can be unpredictable. Various factors can exacerbate this unpredictability, for example, when the damages being sought are unsubstantiated or indeterminate, when discovery is not complete, when the proceeding is not yet in its final stages, when the claims present a novel or unsettled issue of law, when there are significant facts in dispute, when there are a large number of parties (including where it is uncertain how liability, if any, will be shared among multiple defendants), or when there is a wide range of potential results. Although uncertain, based on the most recent information available, advice of counsel and available insurance coverage, if applicable, management believes that any liability resulting from such proceedings would not have a material adverse effect on the consolidated financial statements as of December 31, 2022. It is possible, however, that future developments could result in an unfavorable outcome for or resolution of any one or more of the legal proceedings in which Nicolet is a defendant, which may be material to Nicolet’s business or consolidated results of operations or financial condition for a particular fiscal period or periods.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company conducts transactions, in the normal course of business, with its directors and executive officers, including companies in which they have a beneficial interest. The Company is required to disclose material related party transactions, other than certain compensation arrangements, entered into in the normal course of business. The Company has granted loans to its directors, executive officers, and their related interests. These loans were made on substantially the same terms, including rates and collateral, as those prevailing at the time made for comparable transactions with other unrelated persons. A summary of the loans to related parties was as follows. (in thousands) December 31, 2022 Balance at beginning of year $ 112,917 New loans 20,713 Repayments (21,131) Changes due to status of executive officers and directors (1,792) Balance at end of year $ 110,707 Nicolet has an active common stock repurchase program that allows for the repurchase of common stock in the open market, through block transactions, or in private transactions. During 2021, Nicolet repurchased common stock in a private transaction from one former executive, Ann K. Lawson, including 2,193 shares for $0.2 million (or an average cost per share of $76.14). This private transaction was made in conjunction with a large stock option exercise by the executive. As described in Note 1, the Company had a 50% ownership in a joint venture with the Firm in connection with the Company’s headquarters facility. The Firm was considered a related party, as one of its principals is a Board member and shareholder of the Company. Effective December 31, 2020, the Bank purchased the 50% ownership interest from the Firm for $8 million, to improve efficiencies in process and organizational structure, and to reflect that the Bank had expanded to occupy the majority of the building. Thus, at December 31, 2020, the Bank was the sole owner and managing member of the JV, with the JV operating as a wholly owned subsidiary of the Bank solely to hold the headquarters facility. Prior to this purchase, the Bank incurred approximately $1.3 million in annual rent expense to the JV during 2020. In October 2013, the Company entered into a lease for a branch location in a facility owned by a different member of the Company’s Board and incurred annual rent expense of $153,000, $124,000, and $122,000, on this facility during 2022, 2021, and 2020, respectively. This same Board member participated in a competitive bid process for and was awarded the contract as general contractor for the construction of a new branch location in 2022, and the reconstruction of a different existing branch location in 2019. The 2022 new branch construction is estimated to total $2.3 million, of which, approximately $1.1 million was paid during 2022 as progress was made on the construction. Payments for the 2019 branch reconstruction were $1.3 million, including payments of $0.9 million in 2020 and $0.4 million in 2019 as progress was made on this branch reconstruction. In addition, payments of $154,000 were made during 2022 for two small branch construction projects at two other branch locations. At least 75% of all branch construction payments were passed through to various subcontractors. In August 2022, the Company assumed a lease for a Charter administrative location in a facility owned by an entity for which another Board member has the controlling ownership interest. Rent expense of $49,000 was paid during 2022 (from the acquisition of Charter) on this location.

ASSET GAINS (LOSSES), NET

ASSET GAINS (LOSSES), NET	12 Months Ended
	Dec. 31, 2022
Assets Gains (Losses), Net [Abstract]
ASSET GAINS (LOSSES), NET	ASSET GAINS (LOSSES), NET Components of the net gains (losses) on assets are as follows. Years Ended December 31, (in thousands) 2022 2021 2020 Gains (losses) on sales of securities AFS, net $ (244) $ (283) $ 395 Gains (losses) on equity securities, net (127) 3,445 (987) Gains (losses) on sales of OREO, net 3,206 597 157 Write-downs of OREO (244) (28) (1,040) Write-down of other investment — — (100) Gains (losses) on sales of other investments, net 531 550 — Gains (losses) on sales or dispositions of other assets, net 8 (100) (230) Asset gains (losses), net $ 3,130 $ 4,181 $ (1,805)

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	12 Months Ended
	Dec. 31, 2022
Regulatory Capital Requirements Under Banking Regulations [Abstract]
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk-weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies. The Company and Bank must also maintain a “capital conservation buffer” consisting of common equity Tier 1 (“CET1”) in an amount equal to 2.5% of risk-weighted assets in order to avoid certain restrictions. The capital conservation buffer effectively increases the minimum well-capitalized CET1 capital, Tier 1 capital, and total capital ratios for U.S. banking organizations to 7.0%, 8.5%, and 10.5%, respectively. Failure to meet this capital conservation buffer would result in limit on dividends, other distributions, and discretionary bonuses. Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum amounts and ratios (set forth in the table below) of Total, Tier 1 and CET1 capital (as defined in the regulations) to risk-weighted assets (as defined), and Tier 1 capital (as defined) to average assets (as defined). Management believes the Company and the Bank met all capital adequacy requirements to which they are subject as of December 31, 2022 and 2021. As of December 31, 2022 and 2021, the most recent notifications from the regulatory agencies categorized the Bank as well-capitalized under the regulatory framework for prompt corrective action. To be categorized as well-capitalized, an institution must maintain minimum Total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since these notifications that management believes have changed the Bank’s category. The Bank is also subject to legal limitations on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. Dividends declared by the Bank that exceed the retained net income for the most current year plus retained net income for the preceding two years must be approved by Federal regulatory agencies. At December 31, 2022, the Bank could pay dividends of approximately $28 million to the Company without seeking regulatory approval. The Company’s and the Bank’s actual regulatory capital amounts and ratios are presented in the following table. Actual For Capital Adequacy To Be Well Capitalized Under Prompt Corrective Action Provisions (2) (in thousands) Amount Ratio (1) Amount Ratio (1) Amount Ratio (1) December 31, 2022 Company Total risk-based capital $ 889,763 12.3 % $ 577,138 8.0 % Tier 1 risk-based capital 684,280 9.5 432,853 6.0 Common equity Tier 1 capital 646,341 9.0 324,640 4.5 Leverage 684,280 8.2 335,621 4.0 Bank Total risk-based capital $ 816,951 11.3 % $ 576,241 8.0 % $ 720,301 10.0 % Tier 1 risk-based capital 764,090 10.6 432,181 6.0 576,241 8.0 Common equity Tier 1 capital 764,090 10.6 324,135 4.5 468,196 6.5 Leverage 764,090 9.1 334,916 4.0 418,645 5.0 December 31, 2021 Company Total risk-based capital $ 793,410 13.8 % $ 459,648 8.0 % Tier 1 risk-based capital 604,199 10.5 344,736 6.0 Common equity Tier 1 capital 567,095 9.9 258,552 4.5 Leverage 604,199 9.4 256,990 4.0 Bank Total risk-based capital $ 700,869 12.2 % $ 459,476 8.0 % $ 574,345 10.0 % Tier 1 risk-based capital 664,688 11.6 344,607 6.0 459,476 8.0 Common equity Tier 1 capital 664,688 11.6 258,455 4.5 373,324 6.5 Leverage 664,688 10.3 256,990 4.0 321,237 5.0 (1) The Total risk-based capital ratio is defined as Tier 1 capital plus tier 2 capital divided by total risk-weighted assets. The Tier 1 risk-based capital ratio is defined as Tier 1 capital divided by total risk-weighted assets. CET1 risk-based capital ratio is defined as Tier 1 capital, with deductions for goodwill and other intangible assets (other than mortgage servicing assets), net of associated deferred tax liabilities, and limitations on the inclusion of deferred tax assets, mortgage servicing assets and investments in other financial institutions, in each case as provided further in the rules, divided by total risk-weighted assets. The Leverage ratio is defined as Tier 1 capital divided by the most recent quarter’s average total assets as adjusted. (2) Prompt corrective action provisions are not applicable at the bank holding company level.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
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 certain 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. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from independent sources. Unobservable inputs are inputs that reflect assumptions of the reporting entity about how market participants would price the asset or liability based on the best information available under the circumstances. The three fair value 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. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Recurring Basis: Total Level 1 Level 2 Level 3 December 31, 2022 U.S. Treasury securities $ 183,830 $ — $ 183,830 $ — U.S. government agency securities 2,100 — 2,100 — State, county and municipals 398,188 — 396,315 1,873 Mortgage-backed securities 200,932 — 199,951 981 Corporate debt securities 132,568 — 127,269 5,299 Securities AFS $ 917,618 $ — $ 909,465 $ 8,153 Other investments (equity securities) $ 4,376 $ 4,376 $ — $ — Derivative assets — — — — Derivative liabilities — — — — December 31, 2021 U.S. Treasury securities $ 190,272 $ — $ 190,272 $ — U.S. government agency securities 1,005 — 1,005 — State, county and municipals 312,737 — 310,316 2,421 Mortgage-backed securities 271,262 — 270,260 1,002 Corporate debt securities 146,385 — 141,743 4,642 Securities AFS $ 921,661 $ — $ 913,596 $ 8,065 Other investments (equity securities) $ 5,660 $ 5,660 $ — $ — Derivative assets 1,064 — 1,064 — Derivative liabilities 1,064 — 1,064 — The following is a description of the valuation methodologies used by the Company for the assets and liabilities measured at fair value on a recurring basis, noted in the table above. Securities AFS: 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. Treasury securities, 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 corporate debt securities, which are primarily trust preferred security investments, as well as certain municipal bonds and mortgage-backed securities. At December 31, 2022 and 2021, it was determined that carrying value was the best approximation of fair value for these Level 3 securities, based primarily on the internal analysis performed on these securities. Derivatives: The fair value of the derivative assets and liabilities is determined using a discounted cash flow analysis of the expected cash flows of each derivative, which considers the contractual terms of the underlying derivative financial instrument and observable market-based inputs, such as interest rate curves. The following table presents the changes in Level 3 securities AFS measured at fair value on a recurring basis. (in thousands) Years Ended Level 3 Fair Value Measurements: December 31, 2022 December 31, 2021 Balance at beginning of year $ 8,065 $ 3,130 Acquired balances 750 4,935 Paydowns/Sales/Settlements (451) — Unrealized gains / (losses) (211) — Balance at end of year $ 8,153 $ 8,065 Nonrecurring basis fair value measurements: The following table presents the Company’s assets measured at fair value on a nonrecurring basis, aggregated by the 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 December 31, 2022 Collateral dependent loans $ 30,951 $ — $ — $ 30,951 OREO 1,975 — — 1,975 MSR asset 12,580 — — 12,580 December 31, 2021 Collateral dependent loans $ 36,230 $ — $ — $ 36,230 OREO 11,955 — — 11,955 MSR asset 12,436 — — 12,436 The following is a description of the valuation methodologies used by the Company for the assets and liabilities measured at fair value on a nonrecurring basis, noted in the table above. Collateral dependent loans : For individually evaluated collateral dependent loans, the fair value 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, or the estimated liquidity of the note. OREO : For OREO, the fair value is based upon the estimated fair value of the underlying collateral adjusted for the expected costs to sell. MSR asset : 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 servicing 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. December 31, 2022 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 154,723 $ 154,723 $ 154,723 $ — $ — Certificates of deposit in other banks 12,518 12,407 — 12,407 — Securities AFS 917,618 917,618 — 909,465 8,153 Securities HTM 679,128 623,352 — 623,352 — Other investments 65,286 65,286 4,376 52,093 8,817 Loans held for sale 1,482 1,529 — 1,529 — Loans, net 6,118,670 5,863,570 — — 5,863,570 MSR asset 12,580 17,215 — — 17,215 Accrued interest receivable 21,275 21,275 21,275 — — Financial liabilities: Deposits $ 7,178,921 $ 7,172,779 $ — $ — $ 7,172,779 Short-term borrowings 317,000 317,000 317,000 — — Long-term borrowings 225,342 220,513 — 33,001 187,512 Accrued interest payable 4,265 4,265 4,265 — — December 31, 2021 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 595,292 $ 595,292 $ 595,292 $ — $ — Certificates of deposit in other banks 21,920 22,236 — 22,236 — Securities AFS 921,661 921,661 — 913,596 8,065 Securities HTM 651,803 648,394 — 648,394 — Other investments 44,008 44,008 5,660 32,110 6,238 Loans held for sale 6,447 6,616 — 6,616 — Loans, net 4,572,164 4,606,851 — — 4,606,851 MSR asset 12,436 15,599 — — 15,599 Accrued interest receivable 15,277 15,277 15,277 — — Financial liabilities: Deposits $ 6,465,916 $ 6,463,064 $ — $ — $ 6,463,064 Long-term borrowings 216,915 216,092 — 25,097 190,995 Accrued interest payable 3,078 3,078 3,078 — — The carrying value of certain assets and liabilities such as cash and cash equivalents, accrued interest receivable, nonmaturing deposits, short-term borrowings, and accrued interest payable approximate their estimated fair value due to their immediate and shorter term maturities. For those financial instruments not previously disclosed, the following is a description of the valuation methodologies used. Certificates of deposit 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. Securities HTM: The valuation methodologies for Securities HTM are consistent with the valuation methodologies used for Securities AFS, as discussed under “Recurring basis fair value measurements” above. Other investments : The valuation methodologies utilized for the 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 based on market participants. Collateral-dependent 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 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 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 valuation represents a Level 3 measurement. Lending-related commitments : The estimated fair value of lending-related commitments (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 financial instruments, in which case fair values may be based on estimates using present value or other valuation techniques, or based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of the financial instruments, or other factors. Those techniques are significantly affected by the assumptions used, including the discount rate and estimate of future cash flows. Subsequent changes in assumptions could significantly affect the estimates.

PARENT COMPANY ONLY FINANCIAL I

PARENT COMPANY ONLY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
PARENT COMPANY ONLY FINANCIAL INFORMATION	PARENT COMPANY ONLY FINANCIAL INFORMATION Condensed Parent Company only financial statements of Nicolet Bankshares, Inc. follow. Balance Sheets December 31, (in thousands) 2022 2021 Assets Cash and due from subsidiary $ 63,927 $ 84,656 Investments 10,313 9,684 Investments in subsidiaries 1,094,063 998,032 Other assets 392 1,503 Total assets $ 1,168,695 $ 1,093,875 Liabilities and Stockholders’ Equity Junior subordinated debentures $ 39,720 $ 38,885 Subordinated notes 152,622 153,030 Other liabilities 3,824 10,069 Stockholders’ equity 972,529 891,891 Total liabilities and stockholders’ equity $ 1,168,695 $ 1,093,875 Statements of Income Years Ended December 31, (in thousands) 2022 2021 2020 Interest income $ 81 $ 18 $ 39 Interest expense 8,687 2,959 2,313 Net interest expense (8,606) (2,941) (2,274) Dividend income from subsidiaries 77,775 65,000 60,215 Operating expense (457) (2,562) (886) Gain (loss) on investments, net 395 3,995 (1,087) Income tax benefit 2,373 437 1,102 Earnings before equity in undistributed income (loss) of subsidiaries 71,480 63,929 57,070 Equity in undistributed income (loss) of subsidiaries 22,780 (3,277) 3,052 Net income attributable to Nicolet Bankshares, Inc. $ 94,260 $ 60,652 $ 60,122 Statements of Cash Flows Years Ended December 31, (in thousands) 2022 2021 2020 Cash Flows From Operating Activities: Net income attributable to Nicolet Bankshares, Inc. $ 94,260 $ 60,652 $ 60,122 Adjustments to reconcile net income to net cash provided by operating activities: Accretion of discounts on borrowings 427 584 486 (Gain) loss on investments, net (395) (3,995) 1,087 Change in other assets and liabilities, net (1,775) 1,013 1,786 Equity in undistributed (income) loss of subsidiaries, net of dividends (22,780) 3,277 (3,052) Net cash provided by operating activities 69,737 61,531 60,429 Cash Flows from Investing Activities: Proceeds from sale of investments 1,835 4,105 185 Purchases of investments (2,116) (5,049) (1,179) Net cash paid in business combinations (31,970) (63,892) (21,644) Net cash used in investing activities (32,251) (64,836) (22,638) Cash Flows From Financing Activities: Purchase and retirement of common stock (61,497) (62,583) (42,088) Proceeds from issuance of common stock, net 3,282 2,382 2,055 Capitalized issuance costs, net — (789) — Repayment of long-term borrowings — — (18,186) Proceeds from issuance of subordinated notes, net — 98,953 — Net cash provided by (used in) financing activities (58,215) 37,963 (58,219) Net increase (decrease) in cash and due from subsidiary (20,729) 34,658 (20,428) Beginning cash and due from subsidiary 84,656 49,998 70,426 Ending cash and due from subsidiary $ 63,927 $ 84,656 $ 49,998

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE Presented below are the calculations for basic and diluted earnings per common share. Years Ended December 31, (in thousands, except per share data) 2022 2021 2020 Net income attributable to Nicolet Bankshares, Inc. $ 94,260 $ 60,652 $ 60,122 Weighted average common shares outstanding 13,909 10,736 10,337 Effect of dilutive common stock awards 466 409 204 Diluted weighted average common shares outstanding 14,375 11,145 10,541 Basic earnings per common share $ 6.78 $ 5.65 $ 5.82 Diluted earnings per common share $ 6.56 $ 5.44 $ 5.70

OTHER ASSETS AND OTHER LIABILIT

OTHER ASSETS AND OTHER LIABILITIES HELD FOR SALE	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
OTHER ASSETS AND OTHER LIABILITIES HELD FOR SALE	OTHER ASSETS AND OTHER LIABILITIES HELD FOR SALE On September 7, 2021, Nicolet entered into a Purchase and Assumption Agreement (the “Birmingham Agreement”) with Bank of Ann Arbor to sell Nicolet’s Birmingham, Michigan branch, including legacy mBank’s asset-based lending team (the “Birmingham Sale”). Pursuant to the terms of the Birmingham Agreement, Bank of Ann Arbor agreed to assume certain deposit liabilities and to acquire certain loans, as well as cash, personal property and other fixed assets associated with the Birmingham branch. The combined loan and deposit balances of the Birmingham branch (excluding certain loans and deposits not subject to the Birmingham Agreement) were approximately $199 million and $51 million, respectively, as of December 31, 2021. The Birmingham Sale closed on January 21, 2022.

NATURE OF BUSINESS AND SIGNIF_2

NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation : The consolidated financial statements of the Company include the accounts of its subsidiaries. The JV underlies the noncontrolling interest reflected in the consolidated financial statements until late 2020 when the Bank purchased the remaining interest. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and conform to general practices within the banking industry. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. Results of operations of companies purchased, if any, are included from the date of acquisition. Because the Company is not the primary beneficiary, the consolidated financial statements exclude the following wholly-owned variable interest entities: Mid-Wisconsin Statutory Trust, Baylake Capital Trust II, First Menasha Bancshares Statutory Trust I, First Menasha Bancshares Statutory Trust II, County Bancorp Statutory Trust II, County Bancorp Statutory Trust III, and Fox River Valley Trust I.
Operating Segment	Operating Segment : The Bank represents the primary operating segment (as discussed above). While the chief operating decision makers monitor the revenue streams of the various products and services, and evaluate costs, balance sheet positions and quality, all such products, services and activities are directly or indirectly related to the business of community banking, with no regular, formal or material segment delineations. Operations are managed and financial performance is evaluated on a company-wide basis, and accordingly, all the financial service operations are considered by management to be aggregated in one reportable operating segment.
Use of Estimates	Use of Estimates: In preparing the accompanying consolidated financial statements in conformity with U.S. GAAP, the Company’s management is required to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the disclosures provided. Actual results may differ from these estimates. Material estimates that are particularly susceptible to significant change in the near-term include the fair value of securities available for sale, the determination of the allowance for credit losses, business combinations accounting and the fair value of assets acquired and liabilities assumed, goodwill, and income taxes.
Business Combinations	Business Combinations : The Company accounts for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations
Cash and Cash Equivalents	Cash and Cash Equivalents: For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash and due from banks, interest-earning deposits in other banks with original maturities of less than 90 days, and federal funds sold. The Bank maintains amounts in due from banks which, at times, may exceed federally insured limits. Management monitors these correspondent relationships, and the Bank has not experienced any losses in such accounts.
Securities Available for Sale and Held to Maturity	Securities Available for Sale : Securities are classified as AFS on the consolidated balance sheets at the time of purchase and include 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. Securities classified as AFS are carried at fair value, with unrealized gains or losses, net of related deferred income taxes, reported as increases or decreases in accumulated other comprehensive income. Realized gains or losses on sales of securities AFS (using the specific identification method) are included in the consolidated statements of income under asset gains (losses), net. Premiums and discounts are amortized or accreted into interest income over the estimated life of the related securities using the effective interest method. Securities Held to Maturity : Securities are classified as HTM on the consolidated balance sheets at the time of purchase and include those securities that the Company has both the positive intent and ability to hold to maturity. HTM securities are carried at amortized cost on the consolidated balance sheets. Premiums and discounts are amortized or accreted into interest income over the estimated life of the related securities using the effective interest method.
Other and Partnership Investments	Other Investments: Other investments include equity securities with readily determinable fair values, “restricted” equity securities, and private company securities. As a member of the Federal Reserve Bank System and the Federal Home Loan Bank (“FHLB”) System, the Bank is required to maintain an investment in the capital stock of these entities. These equity securities are “restricted” in that they can only be sold back to the respective institutions or another member institution at par. Therefore, they are less liquid than other exchange traded equity securities. As no ready market exists for these stocks, and they have no quoted market value, these investments are carried at cost. Also included are investments in other private companies that do not have quoted market prices, which are carried at cost less impairment charges, if any. Management’s evaluation of these other investments for impairment includes consideration of the financial condition and other available relevant information of the issuer.Partnership Investments: The Company has invested in certain tax-advantaged projects promoting renewable energy. These investments are designed to generate returns primarily through the realization of federal and state income tax credits and other tax benefits. Such investments are accounted for using the equity method where the Company owns less than fifty percent and has the ability to exercise significant influence over the partnership, while investments where the Company does not have the ability to exercise significant influence are accounted for at fair value less impairment (if any) or cost less impairment if the fair value is not readily determinable. The Company uses the hypothetical liquidation book value (“HLBV”) method for equity investments when the liquidation rights and priorities as defined by an equity investment agreement differ from what is reflected by the underlying percentage ownership interests. The HLBV method is commonly applied to equity investments in the renewable energy industry, where the economic benefits corresponding to an equity investment that may vary at different points in time and / or are not directly linked to an investor’s ownership percentage. A calculation is prepared at each balance sheet date to determine the amount that the Company would receive if any equity investment entity were to liquidate all of its assets (as valued in accordance with U.S. GAAP) and distribute that cash to the investors based on the contractually defined liquidation priorities.
Loans Held for Sale	Loans Held for Sale : Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value as determined on an aggregate basis and generally consist of current production of certain fixed-rate residential first lien mortgages. The amount by which cost exceeds fair value is recorded as a valuation allowance and charged to earnings. Changes, if any, in the valuation allowance are included in earnings in the period in which the change occurs. As of December 31, 2022 and 2021, no valuation allowance was necessary. Loans held for sale may be sold servicing retained or servicing released, and are generally sold without recourse. The carrying value of mortgage loans sold with servicing retained is reduced by the amount allocated to the servicing right at the time of sale. Gains and losses on sales of mortgage loans held for sale are included in earnings in mortgage income, net.
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 amount outstanding, net of deferred loan fees and costs, and any direct principal charge-off. 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. A description of each segment of the loan portfolio, including the corresponding credit risk, is included below. Commercial and industrial loans consist primarily of commercial loans to small and mid-sized businesses within a diverse range of industries (manufacturing, wholesaling, paper, packaging, food production and processing, retail, service, and businesses supporting the general building industry). These loans are made for a wide variety of general corporate purposes, including working capital, equipment, and business expansion loans, with varying terms based upon the underlying purpose of the loan. Commercial and industrial loans are based primarily on the historical and projected cash flow of the underlying borrower, and secondarily on any underlying assets pledged by the borrower. The credit risk related to commercial and industrial loans is largely influenced by general economic conditions and the resulting impact on a borrower’s operations, or on the value of underlying collateral, if any. Credit risk is managed by employing sound underwriting guidelines, lending primarily to borrowers in local markets, formally reviewing the borrower’s financial condition on an ongoing basis, and generally require a guarantee (in full or part) from the primary business owners. Commercial bankers utilize SBA programs, where appropriate, as Nicolet is a preferred SBA lender. Owner-occupied CRE loans primarily consist of loans within a diverse range of industries secured by business real estate that is occupied by borrowers who operate their businesses out of the underlying collateral and who may also have commercial and industrial loans. The credit risk related to owner-occupied CRE loans is largely influenced by general economic conditions and the resulting impact on a borrower’s operations, or on the value of underlying collateral. Credit risk is managed by employing sound underwriting guidelines, lending primarily to borrowers in local markets, periodically evaluating the underlying collateral, formally reviewing the borrower’s financial performance on an ongoing basis, and generally require a guarantee (in full or part) from the primary business owners. Agricultural loans consist of loans secured by farmland and the related farming operations, primarily within the dairy industry. These loans support short-term needs (planting crops or buying feed), as well as longer term needs (fund cattle, equipment or real estate purchases and improvements) of our agricultural customers. The credit risk related to agricultural loans is largely influenced by the agricultural economy, including market prices for the cost of feed and the price of milk, and/or the underlying value of the farmland. Credit risk is managed by employing sound underwriting guidelines, regular personal contact with our agricultural customers, formally reviewing the borrower’s financial condition on an ongoing basis, and generally require a guarantee (in full or part) from the primary business owners. Agricultural bankers utilize FSA programs, where appropriate, as Nicolet is a preferred FSA lender. The CRE investment loan classification primarily includes commercial-based mortgage loans that are secured by non-owner occupied, nonfarm/nonresidential real estate properties, and multi-family residential properties. Lending in this segment is focused on loans that are secured by commercial income-producing properties as opposed to speculative real estate development. The credit risk related to CRE investment loans is influenced by the cash flows of the properties, including vacancy experience, credit capacity of the tenants occupying the real estate, and general economic conditions, all of which may impact the borrower’s operations or the value of underlying collateral. Credit risk is managed by employing sound underwriting guidelines, lending primarily to borrowers in local markets, periodically evaluating the underlying collateral, regularly reviewing the borrower’s financial condition, and generally require a guarantee (in full or part) from the principals. Construction and land development loans provide financing for the development of commercial income properties, multi-family residential development, and land designated for future development. The credit risk on construction loans depends largely upon the accuracy of the initial estimate of the property’s value at completion of construction and the estimated cost of construction. Nicolet controls the credit risk on these types of loans by making loans in familiar markets, reviewing the merits of individual projects, controlling loan structure, and monitoring the progress of projects through the analysis of construction advances. Credit risk is managed by employing sound underwriting guidelines, lending primarily to borrowers in local markets, periodically evaluating the underlying collateral, formally reviewing the borrower’s financial soundness and relationships on an ongoing basis, and generally require a guarantee (in full or part) from the principals. Residential real estate includes residential first mortgage loans and residential junior mortgage loans (home equity lines and term loans secured by junior mortgage liens). Residential real estate also includes residential construction loans. As part of its management of originating residential mortgage loans, Nicolet generally sells the majority of its long-term, fixed-rate residential first mortgage loans in the secondary market with the servicing rights retained, and retains the adjustable-rate mortgage loans in its loan portfolio. The Company may also retain a portion of the long-term, fixed rate residential mortgage loans that do not conform with secondary market standards, but do meet other specific underwriting guidelines. Credit risk for residential real estate loans largely depends upon factors affecting the borrower’s ability to repay as well as general economic trends. Residential real estate loan underwriting is subject to specific regulations, and Nicolet typically underwrites these loans to conform with those widely accepted standards. Residential real estate loans typically have longer terms and higher balances with lower yields, but generally carry lower risks of default. Retail loans include predominantly credit cards and other personal installment loans to individuals within Nicolet’s market areas. Retail loans are centrally underwritten utilizing the borrower’s financial history and information on the underlying collateral. Retail loans typically have shorter terms and lower balances with higher yields, but generally carry higher risks of default. Collection of these loans depends on the borrower’s financial stability, and is more likely to be affected by adverse personal circumstances. Loans – Acquired : Loans purchased in acquisition transactions are acquired loans, and are recorded at their estimated fair value on the acquisition date.
Allowance for Credit Losses	Allowance for Credit Losses - Loans : The ACL-Loans represents management’s estimate of expected credit losses over the lifetime of the loan based on loans 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. Actual credit losses, net of recoveries, are deducted from the ACL-Loans. Loans are charged-off when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the ACL-Loans. A provision for credit losses, which is a charge against income, is recorded to bring the ACL-Loans to a level that, in management’s judgment, is appropriate to absorb expected credit losses in the loan portfolio. The Company uses the current expected credit loss model (“CECL”) to estimate the ACL-Loans. This model considers historical loss rates and other qualitative adjustments, as well as a 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 and other credit-deteriorated 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. To assess the overall appropriateness of the ACL-Loans, management applies an allocation methodology which focuses on evaluation of qualitative and environmental factors, including but not limited to: evaluation of facts and issues related to specific loans; management’s ongoing review and grading of the loan portfolio; consideration of historical loan loss and delinquency experience on each portfolio segment; trends in past due and nonaccrual loans; the risk characteristics of the various loan segments; changes in the size and character of the loan portfolio; concentrations of loans to specific borrowers or industries; existing economic conditions; the fair value of underlying collateral; and 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 PCD and other credit-deteriorated loans, which management defines as nonaccrual credit relationships over $250,000, collateral dependent loans, and 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. Next, 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. Management also allocates the ACL-Loans using the qualitative and environmental factors mentioned above. Consideration is given to those current qualitative or environmental factors that are likely to cause estimated credit losses at 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. Allocations to the ACL-Loans may be made for specific loans but the entire ACL-Loans is available for any loan that, in management’s judgment, should be charged-off or for which an actual loss is realized. The allowance analysis is reviewed by the Board on a quarterly basis in compliance with internal and regulatory requirements.
Credit-Related Financial Instruments	Credit-Related Financial Instruments : In the ordinary course of business the Company has entered into financial instruments consisting of commitments to extend credit, financial standby letters of credit, and performance standby letters of credit. Financial standby letters of credit are issued specifically to facilitate commerce and typically result in the commitment being drawn on when the underlying transaction is consummated between the customer and the third party, while performance standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party. Such financial instruments are recorded in the consolidated financial statements when they are funded.
Transfers of Financial Assets	Transfers of Financial Assets : Transfers of financial assets, primarily in loan participation activities, are accounted for as sales only when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of the right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return assets.
Premises and Equipment	Premises and Equipment : Premises and equipment are stated at cost less accumulated depreciation and amortization. Premises and equipment from acquisitions were recorded at estimated fair value on the respective dates of acquisition. Depreciation is computed on a straight-line basis over the estimated useful lives of the related assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the estimated useful lives of the improvements or the terms of the related leases. Maintenance and repairs are expensed as incurred. Estimated useful lives of new premises and equipment generally range as follows: Building and improvements 25 – 40 years Leasehold improvements 5 – 15 years Furniture and equipment 3 – 10 years
Operating Leases	Operating Leases : The Company accounts for its operating leases in accordance with ASC 842, Leases accrued interest receivable and other assets accrued interest payable and other liabilities
Other Real Estate Owned ("OREO")	Other Real Estate Owned (“OREO”): OREO acquired through partial or total satisfaction of loans or bank facilities no longer in use are carried at fair value less estimated costs to sell. Any write-down in the carrying value of loans or vacated bank premises at the time of transfer to OREO is charged to the ACL-Loans or to write-down of assets, respectively. OREO properties acquired in conjunction with acquisition transactions were recorded at fair value on the date of acquisition. Any subsequent write-downs to reflect current fair value, as well as gains or losses on disposition and revenues and expenses incurred to hold and maintain such properties, are treated as period costs.
Goodwill and Other Intangibles	Goodwill and Other Intangibles : Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired. Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis or more frequently if certain events or circumstances occur. Other intangibles include core deposit intangibles (which represent the value of acquired customer core deposit bases) and customer list intangibles. The core deposit intangibles have an estimated finite life, are amortized on an accelerated basis over a 10-year period, and are subject to periodic impairment evaluation. The customer list intangibles have finite lives, are amortized on a straight-line basis to expense over their initial weighted average life of approximately 12 years as of acquisition, and are subject to periodic impairment evaluation.
Mortgage Servicing Rights ("MSRs") and Loan Servicing Rights ("LSRs")	Mortgage Servicing Rights (“MSRs”) : The Company sells originated residential mortgages into the secondary market and retains the right to service the loans sold. A mortgage servicing right asset (liability) is capitalized upon sale of such loans with the offsetting effect recorded as a gain (loss) on sale of loans in earnings (included in mortgage income, net), representing the then-current estimated fair value of future net cash flows expected to be realized for performing the servicing activities. MSRs when purchased (including MSRs purchased in acquisitions) are initially recorded at their then-estimated fair value. As the Company has not elected to measure any class of servicing assets under the fair value method, the Company utilizes the amortization method. MSRs are amortized in proportion to and over the period of estimated net servicing income, with the amortization charged to earnings (included in mortgage income, net). MSRs are carried at the lower of initial capitalized amount, net of accumulated amortization, or estimated fair value, and are included in other assets in the consolidated balance sheets. Loan servicing fee income for servicing loans is typically based on a contractual percentage of the outstanding principal and is recorded as income when earned (included in mortgage income, net with less material late fees and ancillary fees related to loan servicing). Loan Servicing Rights (“LSRs”) :
Bank-owned Life Insurance ("BOLI")	Bank-owned Life Insurance (“BOLI”) : The Company owns BOLI on certain executives and employees. BOLI balances are recorded at their cash surrender values. Changes in the cash surrender values and death proceeds exceeding carrying values are included in BOLI income.
Stock-based Compensation Plans	Stock-based Compensation :
Income Taxes	Income Taxes : The Company files a consolidated federal income tax return with its wholly owned subsidiaries and files state income tax returns with the various taxing jurisdictions based on its taxable presence. Amounts equal to tax benefits of those subsidiaries having taxable federal or state losses or credits are reimbursed by the entities that incur federal or state tax liabilities. Amounts provided for income tax expense are based on income reported for financial statement purposes and do not necessarily represent amounts currently payable under tax laws. Deferred income tax assets and liabilities are computed quarterly for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax rates applicable to the periods in which the differences are expected to affect taxable income. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through income tax expense. Valuation allowances are established when it is more likely than not that a portion of the full amount of the deferred tax asset will not be realized. In assessing the ability to realize deferred tax assets, management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies. At acquisition, deferred taxes were evaluated in respect to the acquired assets and assumed liabilities (including the acquired net operating losses), and a net deferred tax asset was recorded. Certain limitations within the provisions of the tax code are placed on the amount of net operating losses which can be utilized as part of acquisition accounting rules and were incorporated into the calculation of the deferred tax asset. In addition, a portion of the fair value discounts on PCD loans which resolved in the first twelve months after the acquisition were disallowed under provisions of the tax code.
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 includes the dilutive effect of outstanding common stock awards unless the impact is anti-dilutive, by application of the treasury stock method.
Treasury Stock	Treasury Stock : Treasury stock is accounted for at cost on a first-in-first-out basis. It is the Company’s general practice to cancel treasury stock shares in the same quarter as purchased, and thus, not carry a treasury stock balance.
Comprehensive Income	Comprehensive Income : Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities AFS, are reported in accumulated other comprehensive income, as a separate component of the equity section of the balance sheet. Realized gains or losses are reclassified to current period income. Changes in these items, along with net income, are components of comprehensive income. The Company presents comprehensive income in a separate consolidated statement of comprehensive income.
Revenue Recognition	Revenue Recognition : Accounting principles ( Revenue from Contracts with Customers, Topic 606) require that an entity recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The guidance includes a five-step model to apply to revenue recognition, consisting of the following: (1) identify the contract; (2) identify the performance obligation in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations; and (5) recognize revenue when or as the performance obligation is satisfied. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities, as well as certain noninterest income categories, such as gains or losses associated with mortgage servicing rights and income from BOLI. Descriptions of the Company’s primary revenue contracts within the scope of Topic 606 are discussed in detail below. Trust services and brokerage fee income : A contract between the Company and its customers to provide fiduciary and / or investment administration services on trust accounts and brokerage accounts in exchange for a fee. Trust services and brokerage fee income is generally based upon the month-end market value of the assets under management and the applicable fee rate, which is recognized over the period the underlying trust or brokerage account is serviced (generally on a monthly basis). Such contracts are generally cancellable at any time, with the customer subject to a pro-rated fee in the month of termination. Service charges on deposit accounts : The deposit contract obligates the Company to serve as a custodian of the customer’s deposited funds and generally can be terminated at will by either party. This contract permits the customer to access the funds on deposit and request additional services related to the deposit account. Service charges on deposit accounts consist of account analysis fees (net fees earned on analyzed business and public checking accounts), monthly service charges, nonsufficient fund (“NSF”) charges, and other deposit account related charges. The Company’s performance obligation for account analysis fees and monthly service charges is generally satisfied, and the related revenue recognized, over the period in which the service is provided (typically on a monthly basis); while NSF charges and other deposit account related charges are largely transactional based and the related revenue is recognized at the time the service is provided. Card interchange income : A contract between the Company, as a card-issuing bank, and its customers whereby the Company receives a transaction fee from the merchant’s bank whenever a customer uses a debit or credit card to make a purchase. The performance obligation is completed and the fees are recognized as the service is provided (i.e., when the customer uses a debit or credit card).
Future Accounting Pronouncements	Future Accounting Pronouncements : In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings (“TDRs”) and Vintage Disclosures . This ASU eliminates the accounting guidance for TDRs by creditors, while enhancing the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The ASU also requires public business entities to expand the vintage disclosures to include gross charge-offs by year of origination. The updated guidance is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. Adoption of this amendment is not expected to have a material impact on the Company’s consolidated financial statements; though, it will result in new disclosures of gross charge-offs by year of origination and on the types of loan modifications to borrowers experiencing financial difficulties. Current TDR disclosures will also be removed. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. It provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. In December 2022, the FASB issued ASU ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848,
Reclassifications	Reclassifications : Certain amounts in the 2021 and 2020 consolidated financial statements have been reclassified to conform to the 2022 presentation.
Fair Value Measurement	The carrying value of certain assets and liabilities such as cash and cash equivalents, accrued interest receivable, nonmaturing deposits, short-term borrowings, and accrued interest payable approximate their estimated fair value due to their immediate and shorter term maturities. For those financial instruments not previously disclosed, the following is a description of the valuation methodologies used. Certificates of deposit 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. Securities HTM: The valuation methodologies for Securities HTM are consistent with the valuation methodologies used for Securities AFS, as discussed under “Recurring basis fair value measurements” above. Other investments : The valuation methodologies utilized for the 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 based on market participants. Collateral-dependent 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 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 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 valuation represents a Level 3 measurement. Lending-related commitments : The estimated fair value of lending-related commitments (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 financial instruments, in which case fair values may be based on estimates using present value or other valuation techniques, or based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of the financial instruments, or other factors. Those techniques are significantly affected by the assumptions used, including the discount rate and estimate of future cash flows. Subsequent changes in assumptions could significantly affect the estimates.

NATURE OF BUSINESS AND SIGNIF_3

NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of estimated useful lives of premises and equipment	Estimated useful lives of new premises and equipment generally range as follows: Building and improvements 25 – 40 years Leasehold improvements 5 – 15 years Furniture and equipment 3 – 10 years

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of assets acquired and liabilities assumed and preliminary purchase price allocation	A summary of the assets acquired and liabilities assumed in the Charter transaction, as of the acquisition date, including the preliminary purchase price allocation was as follows. (In millions, except share data) Acquired from Charter Fair Value Adjustments Estimated Fair Value Assets Acquired: Cash and cash equivalents $ 10 $ — $ 10 Investment securities 218 — 218 Loans 848 (21) 827 ACL-Loans (9) 7 (2) Premises and equipment 9 1 10 BOLI 29 — 29 Core deposit intangible — 19 19 Other assets 5 5 10 Total assets $ 1,110 $ 11 $ 1,121 Liabilities Assumed: Deposits $ 869 $ 1 $ 870 Borrowings 161 — 161 Other liabilities 3 — 3 Total liabilities $ 1,033 $ 1 $ 1,034 Net assets acquired $ 87 Purchase Price: Nicolet common stock issued (in shares) 1,262,360 Value of Nicolet common stock consideration $ 98 Cash consideration paid 39 Total purchase price $ 137 Preliminary goodwill $ 50 (In thousands) August 26, 2022 Purchase price of PCD loans at acquisition $ 24,031 Allowance for credit losses on PCD loans at acquisition 1,709 Par value of PCD acquired loans at acquisition $ 25,740 A summary of the assets acquired and liabilities assumed in the County transaction, as of the acquisition date, including the purchase price allocation was as follows. (In millions, except share data) Acquired from County Fair Value Adjustments Estimated Fair Value Assets Acquired: Cash and cash equivalents $ 20 $ — $ 20 Investment securities 301 (1) 300 Loans 1,015 (1) 1,014 ACL-Loans (11) 8 (3) Premises and equipment 21 (4) 17 BOLI 33 — 33 Core deposit intangible — 7 7 Loan servicing rights 20 — 20 Other assets 6 (2) 4 Total assets $ 1,405 $ 7 $ 1,412 Liabilities Assumed: Deposits $ 1,027 $ 3 $ 1,030 Borrowings 218 1 219 Other liabilities 8 — 8 Total liabilities $ 1,253 $ 4 $ 1,257 Net assets acquired $ 155 Purchase Price: Nicolet common stock issued (in shares) 2,366,243 Value of Nicolet common stock consideration $ 176 Cash consideration paid 48 Total purchase price $ 224 Write-off prior investment in County (1) Goodwill $ 70 (In thousands) December 3, 2021 Purchase price of PCD loans at acquisition $ 64,720 Allowance for credit losses on PCD loans at acquisition 3,490 Par value of PCD acquired loans at acquisition $ 68,210 A summary of the assets acquired and liabilities assumed in the Mackinac transaction, as of the acquisition date, including the purchase price allocation was as follows. (In millions, except share data) Acquired from Mackinac Fair Value Adjustments Estimated Fair Value Assets Acquired: Cash and cash equivalents $ 448 $ — $ 448 Investment securities 104 — 104 Loans 930 10 940 ACL-Loans (6) 4 (2) Premises and equipment 24 (3) 21 BOLI 16 — 16 Goodwill 20 (20) — Other intangibles 4 3 7 Other assets 25 (3) 22 Total assets $ 1,565 $ (9) $ 1,556 Liabilities Assumed: Deposits $ 1,365 $ 1 $ 1,366 Borrowings 28 1 29 Other liabilities 13 1 14 Total liabilities $ 1,406 $ 3 $ 1,409 Net assets acquired $ 147 Purchase Price: Nicolet common stock issued (in shares) 2,337,230 Value of Nicolet common stock consideration $ 180 Cash consideration paid 49 Total purchase price $ 229 Write-off prior investment in Mackinac (2) Goodwill $ 84 (In thousands) September 3, 2021 Purchase price of PCD loans at acquisition $ 10,605 Allowance for credit losses on PCD loans at acquisition 1,896 Par value of PCD acquired loans at acquisition $ 12,501
Schedule of unaudited pro forma information	The following unaudited pro forma information is presented for illustrative purposes only, and gives effect to the acquisitions of County and Mackinac as if the acquisitions had occurred on January 1, 2020, the beginning of the earliest period presented. The pro forma information should not be relied upon as being indicative of the historical results of operations the companies would have had if the acquisitions had occurred before such periods or the future results of operations that the companies will experience as a result of the mergers. The pro forma information, although helpful in illustrating the financial characteristics of the combined company under one set of assumptions, does not reflect the benefits of expected cost savings, opportunities to earn additional revenue, the impact of restructuring and merger-related expenses, or other factors that may result as a consequence of the mergers and, accordingly, does not attempt to predict or suggest future results. Years Ended (In thousands, except per share data) December 31, 2021 December 31, 2020 Total revenue, net of interest expense $ 320,307 $ 308,325 Net income $ 87,860 $ 77,641 Diluted earnings per common share $ 5.91 $ 5.21

SECURITIES AND OTHER INVESTME_2

SECURITIES AND OTHER INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized costs and fair values of securities AFS	The amortized cost and fair value of securities available for sale and held to maturity are summarized as follows. December 31, 2022 (in thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Securities AFS: U.S. Treasury securities $ 192,116 $ — $ 8,286 $ 183,830 U.S. government agency securities 2,133 — 33 2,100 State, county and municipals 433,733 123 35,668 398,188 Mortgage-backed securities 227,650 10 26,728 200,932 Corporate debt securities 140,712 3 8,147 132,568 $ 996,344 $ 136 $ 78,862 $ 917,618 Securities HTM: U.S. Treasury securities $ 497,648 $ — $ 35,722 $ 461,926 U.S. government agency securities 8,744 46 — 8,790 State, county and municipals 34,874 — 3,349 31,525 Mortgage-backed securities 137,862 — 16,751 121,111 $ 679,128 $ 46 $ 55,822 $ 623,352 December 31, 2021 (in thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Securities AFS: U.S. Treasury securities $ 191,507 $ — $ 1,235 $ 190,272 U.S. government agency securities 999 6 — 1,005 State, county and municipals 311,717 3,222 2,202 312,737 Mortgage-backed securities 270,017 3,090 1,845 271,262 Corporate debt securities 143,172 3,459 246 146,385 $ 917,412 $ 9,777 $ 5,528 $ 921,661 Securities HTM: U.S. Treasury securities $ 496,939 $ — $ 2,738 $ 494,201 U.S. government agency securities 11,871 — 2 11,869 State, county and municipals 42,876 10 173 42,713 Mortgage-backed securities 100,117 89 595 99,611 $ 651,803 $ 99 $ 3,508 $ 648,394
Schedule of amortized costs and fair values of securities HTM	The amortized cost and fair value of securities available for sale and held to maturity are summarized as follows. December 31, 2022 (in thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Securities AFS: U.S. Treasury securities $ 192,116 $ — $ 8,286 $ 183,830 U.S. government agency securities 2,133 — 33 2,100 State, county and municipals 433,733 123 35,668 398,188 Mortgage-backed securities 227,650 10 26,728 200,932 Corporate debt securities 140,712 3 8,147 132,568 $ 996,344 $ 136 $ 78,862 $ 917,618 Securities HTM: U.S. Treasury securities $ 497,648 $ — $ 35,722 $ 461,926 U.S. government agency securities 8,744 46 — 8,790 State, county and municipals 34,874 — 3,349 31,525 Mortgage-backed securities 137,862 — 16,751 121,111 $ 679,128 $ 46 $ 55,822 $ 623,352 December 31, 2021 (in thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Securities AFS: U.S. Treasury securities $ 191,507 $ — $ 1,235 $ 190,272 U.S. government agency securities 999 6 — 1,005 State, county and municipals 311,717 3,222 2,202 312,737 Mortgage-backed securities 270,017 3,090 1,845 271,262 Corporate debt securities 143,172 3,459 246 146,385 $ 917,412 $ 9,777 $ 5,528 $ 921,661 Securities HTM: U.S. Treasury securities $ 496,939 $ — $ 2,738 $ 494,201 U.S. government agency securities 11,871 — 2 11,869 State, county and municipals 42,876 10 173 42,713 Mortgage-backed securities 100,117 89 595 99,611 $ 651,803 $ 99 $ 3,508 $ 648,394 The following tables present gross unrealized losses and the related estimated fair value of investment securities for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time the individual securities have been in a continuous unrealized loss position. December 31, 2022 Less than 12 months 12 months or more Total ($ in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Number of Securities Securities AFS: U.S. Treasury securities $ 448 $ 14 $ 183,382 $ 8,272 $ 183,830 $ 8,286 9 U.S. government agency securities 2,083 32 17 1 2,100 33 9 State, county and municipals 277,546 18,041 86,569 17,627 364,115 35,668 812 Mortgage-backed securities 102,108 11,320 95,614 15,408 197,722 26,728 376 Corporate debt securities 114,887 6,186 12,938 1,961 127,825 8,147 90 $ 497,072 $ 35,593 $ 378,520 $ 43,269 $ 875,592 $ 78,862 1,296 Securities HTM: U.S. Treasury securities $ — $ — $ 461,926 $ 35,722 $ 461,926 $ 35,722 6 State, county and municipals 17,591 1,594 11,654 1,755 29,245 3,349 58 Mortgage-backed securities 68,108 8,029 53,003 8,722 121,111 16,751 106 $ 85,699 $ 9,623 $ 526,583 $ 46,199 $ 612,282 $ 55,822 170 December 31, 2021 Less than 12 months 12 months or more Total ($ in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Number of Securities Securities AFS: U.S. Treasury securities $ 190,272 $ 1,235 $ — $ — $ 190,272 $ 1,235 8 U.S. government agency securities 160 — — — 160 — 3 State, county and municipals 103,950 2,119 1,777 83 105,727 2,202 132 Mortgage-backed securities 137,561 1,616 6,068 229 143,629 1,845 159 Corporate debt securities 23,267 246 — — 23,267 246 13 $ 455,210 $ 5,216 $ 7,845 $ 312 $ 463,055 $ 5,528 315 Securities HTM: U.S. Treasury securities $ 494,201 $ 2,738 $ — $ — $ 494,201 $ 2,738 6 U.S. government agency securities 11,737 2 — — 11,737 2 3 State, county and municipals 30,898 173 — — 30,898 173 46 Mortgage-backed securities 69,333 595 — — 69,333 595 72 $ 606,169 $ 3,508 $ — $ — $ 606,169 $ 3,508 127
Available for sale securities in a continuous loss position	The following tables present gross unrealized losses and the related estimated fair value of investment securities for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time the individual securities have been in a continuous unrealized loss position. December 31, 2022 Less than 12 months 12 months or more Total ($ in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Number of Securities Securities AFS: U.S. Treasury securities $ 448 $ 14 $ 183,382 $ 8,272 $ 183,830 $ 8,286 9 U.S. government agency securities 2,083 32 17 1 2,100 33 9 State, county and municipals 277,546 18,041 86,569 17,627 364,115 35,668 812 Mortgage-backed securities 102,108 11,320 95,614 15,408 197,722 26,728 376 Corporate debt securities 114,887 6,186 12,938 1,961 127,825 8,147 90 $ 497,072 $ 35,593 $ 378,520 $ 43,269 $ 875,592 $ 78,862 1,296 Securities HTM: U.S. Treasury securities $ — $ — $ 461,926 $ 35,722 $ 461,926 $ 35,722 6 State, county and municipals 17,591 1,594 11,654 1,755 29,245 3,349 58 Mortgage-backed securities 68,108 8,029 53,003 8,722 121,111 16,751 106 $ 85,699 $ 9,623 $ 526,583 $ 46,199 $ 612,282 $ 55,822 170 December 31, 2021 Less than 12 months 12 months or more Total ($ in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Number of Securities Securities AFS: U.S. Treasury securities $ 190,272 $ 1,235 $ — $ — $ 190,272 $ 1,235 8 U.S. government agency securities 160 — — — 160 — 3 State, county and municipals 103,950 2,119 1,777 83 105,727 2,202 132 Mortgage-backed securities 137,561 1,616 6,068 229 143,629 1,845 159 Corporate debt securities 23,267 246 — — 23,267 246 13 $ 455,210 $ 5,216 $ 7,845 $ 312 $ 463,055 $ 5,528 315 Securities HTM: U.S. Treasury securities $ 494,201 $ 2,738 $ — $ — $ 494,201 $ 2,738 6 U.S. government agency securities 11,737 2 — — 11,737 2 3 State, county and municipals 30,898 173 — — 30,898 173 46 Mortgage-backed securities 69,333 595 — — 69,333 595 72 $ 606,169 $ 3,508 $ — $ — $ 606,169 $ 3,508 127
Schedule of amortized cost and fair value of investment securities by contractual maturity	The amortized cost and fair value of investment securities 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. As of December 31, 2022 Securities AFS Securities HTM (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in less than one year $ 222,169 $ 218,033 $ 1,774 $ 1,748 Due in one year through five years 172,291 163,466 513,181 476,365 Due after five years through ten years 229,760 203,039 22,600 20,485 Due after ten years 144,474 132,148 3,711 3,643 768,694 716,686 541,266 502,241 Mortgage-backed securities 227,650 200,932 137,862 121,111 Total $ 996,344 $ 917,618 $ 679,128 $ 623,352
Schedule of proceeds and realized gains or losses from the sale of AFS securities	Proceeds and realized gains / losses from the sale of securities AFS were as follows. Years Ended December 31, (in thousands) 2022 2021 2020 Gross gains $ 28 $ 5 $ 395 Gross losses (272) (288) — Gains (losses) on sales of securities AFS, net $ (244) $ (283) $ 395 Proceeds from sales of securities AFS * $ 28,438 $ 42,973 $ 19,045 * Includes proceeds of $21 million recognized on the sale of securities AFS upon acquisition of Charter for which no gain or loss was recognized in the income statement as the investment securities were marked to fair value through purchase accounting.
Summary of other investments	The carrying value of other investments are summarized as follows. (in thousands) December 31, 2022 December 31, 2021 Federal Reserve Bank stock $ 32,219 $ 20,973 FHLB stock 18,625 10,545 Equity securities with readily determinable fair values 4,376 5,660 Other investments 10,066 6,830 Total other investments $ 65,286 $ 44,008

LOANS, ALLOWANCE FOR CREDIT LOS

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of loan composition by portfolio segment	The loan composition was as follows. December 31, 2022 December 31, 2021 (in thousands) Amount % of Total Amount % of Total Commercial & industrial $ 1,304,819 21 % $ 1,042,256 23 % Owner-occupied commercial real estate (“CRE”) 954,599 15 787,189 17 Agricultural 1,088,607 18 794,728 17 Commercial 3,348,025 54 2,624,173 57 CRE investment 1,149,949 19 818,061 18 Construction & land development 318,600 5 213,035 5 Commercial real estate 1,468,549 24 1,031,096 23 Commercial-based loans 4,816,574 78 3,655,269 80 Residential construction 114,392 2 70,353 1 Residential first mortgage 1,016,935 16 713,983 15 Residential junior mortgage 177,332 3 131,424 3 Residential real estate 1,308,659 21 915,760 19 Retail & other 55,266 1 50,807 1 Retail-based loans 1,363,925 22 966,567 20 Loans 6,180,499 100 % 4,621,836 100 % Less ACL-Loans 61,829 49,672 Loans, net $ 6,118,670 $ 4,572,164 ACL-Loans to loans 1.00 % 1.07 %
Schedule of changes in the allowance for credit losses - loans by portfolio segment	A roll forward of the allowance for credit losses - loans was as follows. Years Ended December 31, (in thousands) 2022 2021 2020 Beginning balance $ 49,672 $ 32,173 $ 13,972 Adoption of CECL — — 8,488 Initial PCD ACL — — 797 Total impact for adoption of CECL — — 9,285 ACL on PCD loans acquired 1,937 5,159 — Provision for credit losses 10,950 12,500 10,300 Charge-offs (1,033) (513) (1,689) Recoveries 303 353 305 Net (charge-offs) recoveries (730) (160) (1,384) Ending balance $ 61,829 $ 49,672 $ 32,173 The following table presents the balance and activity in the ACL-Loans by portfolio segment. Year Ended December 31, 2022 (in thousands) Commercial Owner- Agricultural CRE Construction & land Residential Residential Residential Retail Total ACL-Loans * Beginning balance $ 12,613 $ 7,222 $ 9,547 $ 8,462 $ 1,812 $ 900 $ 6,844 $ 1,340 $ 932 $ 49,672 ACL on PCD loans 1,408 384 — 38 2 — 93 12 — 1,937 Provision 2,415 2,087 215 4,075 758 512 96 493 299 10,950 Charge-offs (190) (555) — — — — (65) — (223) (1,033) Recoveries 104 — — 169 — — 8 1 21 303 Net (charge-offs) recoveries (86) (555) — 169 — — (57) 1 (202) (730) Ending balance $ 16,350 $ 9,138 $ 9,762 $ 12,744 $ 2,572 $ 1,412 $ 6,976 $ 1,846 $ 1,029 $ 61,829 As % of ACL-Loans 26 % 15 % 16 % 21 % 4 % 2 % 11 % 3 % 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, 2021 (in thousands) Commercial Owner- Agricultural CRE Construction & land Residential Residential Residential Retail Total ACL-Loans * Beginning balance $ 11,644 $ 5,872 $ 1,395 $ 5,441 $ 984 $ 421 $ 4,773 $ 1,086 $ 557 $ 32,173 ACL on PCD loans 723 1,045 2,585 415 103 — 272 13 3 5,159 Provision 196 305 5,615 2,608 725 479 1,892 237 443 12,500 Charge-offs (242) — (48) (4) — — (113) — (106) (513) Recoveries 292 — — 2 — — 20 4 35 353 Net (charge-offs) recoveries 50 — (48) (2) — — (93) 4 (71) (160) Ending balance $ 12,613 $ 7,222 $ 9,547 $ 8,462 $ 1,812 $ 900 $ 6,844 $ 1,340 $ 932 $ 49,672 As % of ACL-Loans 25 % 14 % 19 % 17 % 4 % 2 % 14 % 3 % 2 % 100 %
Schedule of provision of credit losses	The following table presents the components of the provision for credit losses. Years Ended December 31, (in thousands) 2022 2021 2020 Provision for credit losses on: Loans $ 10,950 $ 12,500 $ 10,300 Unfunded commitments 550 2,400 — Investment securities — — — Total provision for credit losses $ 11,500 $ 14,900 $ 10,300
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. December 31, 2022 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 3,475 $ 3,475 $ 1,927 $ 1,548 $ 595 Owner-occupied CRE 4,907 — 4,907 4,699 208 53 Agricultural 13,758 6,458 20,216 14,358 5,858 261 CRE investment 2,713 — 2,713 979 1,734 212 Construction & land development 670 — 670 670 — — Residential construction — — — — — — Residential first mortgage 91 — 91 91 — — Residential junior mortgage — — — — — — Retail & other — — — — — — Total loans $ 22,139 $ 9,933 $ 32,072 $ 22,724 $ 9,348 $ 1,121 December 31, 2021 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 2,296 $ 2,296 $ 1,842 $ 454 $ 258 Owner-occupied CRE 3,537 — 3,537 1,315 2,222 552 Agricultural 19,637 8,518 28,155 25,310 2,845 841 CRE investment 3,000 — 3,000 1,684 1,316 407 Construction & land development 1,038 — 1,038 655 383 211 Residential construction — — — — — — Residential first mortgage 473 — 473 473 — — Residential junior mortgage — — — — — — Retail & other — — — — — — Total loans $ 27,685 $ 10,814 $ 38,499 $ 31,279 $ 7,220 $ 2,269
Schedule of past due loans by portfolio segment	The following tables present past due loans by portfolio segment. December 31, 2022 (in thousands) 30-89 Days Past 90 Days & Over Current Total Commercial & industrial $ 210 $ 3,328 $ 1,301,281 $ 1,304,819 Owner-occupied CRE 833 5,647 948,119 954,599 Agricultural 20 20,416 1,068,171 1,088,607 CRE investment — 3,832 1,146,117 1,149,949 Construction & land development — 771 317,829 318,600 Residential construction — — 114,392 114,392 Residential first mortgage 3,628 3,780 1,009,527 1,016,935 Residential junior mortgage 236 224 176,872 177,332 Retail & other 261 82 54,923 55,266 Total loans $ 5,188 $ 38,080 $ 6,137,231 $ 6,180,499 Percent of total loans 0.1 % 0.6 % 99.3 % 100.0 % December 31, 2021 (in thousands) 30-89 Days Past 90 Days & Over Current Total Commercial & industrial $ 94 $ 1,908 $ 1,040,254 $ 1,042,256 Owner-occupied CRE — 4,220 782,969 787,189 Agricultural 108 28,367 766,253 794,728 CRE investment 114 4,119 813,828 818,061 Construction & land development — 1,071 211,964 213,035 Residential construction 246 — 70,107 70,353 Residential first mortgage 2,592 4,132 707,259 713,983 Residential junior mortgage 23 243 131,158 131,424 Retail & other 115 94 50,598 50,807 Total loans $ 3,292 $ 44,154 $ 4,574,390 $ 4,621,836 Percent of total loans 0.1 % 0.9 % 99.0 % 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. Total Nonaccrual Loans (in thousands) December 31, 2022 % to Total December 31, 2021 % to Total Commercial & industrial $ 3,328 9 % $ 1,908 4 % Owner-occupied CRE 5,647 15 4,220 10 Agricultural 20,416 53 28,367 64 CRE investment 3,832 10 4,119 9 Construction & land development 771 2 1,071 3 Residential construction — — — — Residential first mortgage 3,780 10 4,132 9 Residential junior mortgage 224 1 243 1 Retail & other 82 — 94 — Nonaccrual loans $ 38,080 100 % $ 44,154 100 % Percent of total loans 0.6 % 0.9 %
Schedule of total loans by risk categories and year of origination	The following tables present total loans by risk categories and year of origination. Loans acquired from Charter, Mackinac and County have been included in the December 31, 2022 and December 31, 2021 tables based upon the actual origination date. December 31, 2022 Amortized Cost Basis by Origination Year (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Revolving to Term TOTAL Commercial & industrial Grades 1-4 $ 317,394 $ 226,065 $ 101,374 $ 68,884 $ 50,189 $ 77,589 $ 360,978 $ — $ 1,202,473 Grade 5 9,938 5,902 10,811 1,530 3,986 4,562 20,617 — 57,346 Grade 6 1,459 2,283 629 511 402 11,653 14,047 — 30,984 Grade 7 556 293 3,211 2,990 775 1,070 5,121 — 14,016 Total $ 329,347 $ 234,543 $ 116,025 $ 73,915 $ 55,352 $ 94,874 $ 400,763 $ — $ 1,304,819 Owner-occupied CRE Grades 1-4 $ 151,391 $ 190,313 $ 105,156 $ 100,606 $ 91,479 $ 252,574 $ 6,734 $ — $ 898,253 Grade 5 5,241 3,192 4,287 2,163 4,791 14,632 348 — 34,654 Grade 6 — — 763 2,361 — 877 — — 4,001 Grade 7 227 706 6,344 616 — 9,798 — — 17,691 Total $ 156,859 $ 194,211 $ 116,550 $ 105,746 $ 96,270 $ 277,881 $ 7,082 $ — $ 954,599 Agricultural Grades 1-4 $ 275,208 $ 145,272 $ 85,413 $ 25,463 $ 19,687 $ 130,849 $ 249,033 $ — $ 930,925 Grade 5 13,295 18,178 2,694 1,992 517 43,927 21,199 — 101,802 Grade 6 115 1,457 28 33 — 5,258 429 — 7,320 Grade 7 7,165 2,632 720 1,977 4,611 19,948 11,507 — 48,560 Total $ 295,783 $ 167,539 $ 88,855 $ 29,465 $ 24,815 $ 199,982 $ 282,168 $ — $ 1,088,607 CRE investment Grades 1-4 $ 205,930 $ 229,252 $ 192,527 $ 134,301 $ 79,649 $ 248,595 $ 11,383 $ — $ 1,101,637 Grade 5 567 1,649 3,578 4,266 3,086 24,897 — — 38,043 Grade 6 — — — 1,170 2,396 2,483 206 — 6,255 Grade 7 — — 121 299 245 3,140 209 — 4,014 Total $ 206,497 $ 230,901 $ 196,226 $ 140,036 $ 85,376 $ 279,115 $ 11,798 $ — $ 1,149,949 Construction & land development Grades 1-4 $ 104,804 $ 140,727 $ 12,188 $ 9,747 $ 23,811 $ 13,138 $ 13,235 $ — $ 317,650 Grade 5 37 — — 14 — 95 — — 146 Grade 6 — — — — — — — — — Grade 7 33 — — — — 771 — — 804 Total $ 104,874 $ 140,727 $ 12,188 $ 9,761 $ 23,811 $ 14,004 $ 13,235 $ — $ 318,600 Residential construction Grades 1-4 $ 92,417 $ 16,774 $ 966 $ 123 $ 336 $ 229 $ 3,547 $ — $ 114,392 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 92,417 $ 16,774 $ 966 $ 123 $ 336 $ 229 $ 3,547 $ — $ 114,392 Residential first mortgage Grades 1-4 $ 318,628 $ 272,011 $ 147,857 $ 68,975 $ 31,208 $ 162,153 $ 2,080 $ 3 $ 1,002,915 Grade 5 1,494 758 997 1,803 2,272 465 — — 7,789 Grade 6 — — — 711 — — — — 711 Grade 7 154 329 188 349 197 4,303 — — 5,520 Total $ 320,276 $ 273,098 $ 149,042 $ 71,838 $ 33,677 $ 166,921 $ 2,080 $ 3 $ 1,016,935 Residential junior mortgage Grades 1-4 $ 10,119 $ 4,580 $ 5,207 $ 3,151 $ 1,573 $ 3,409 $ 142,784 $ 5,762 $ 176,585 Grade 5 — — — — — 143 165 — 308 Grade 6 — — — — — — — — — Grade 7 — 206 — — — 24 209 — 439 Total $ 10,119 $ 4,786 $ 5,207 $ 3,151 $ 1,573 $ 3,576 $ 143,158 $ 5,762 $ 177,332 Retail & other Grades 1-4 $ 12,318 $ 8,957 $ 4,221 $ 3,188 $ 1,035 $ 24,950 $ 492 $ — $ 55,161 Grade 5 — 23 — — — — — — 23 Grade 6 — — — — — — — — — Grade 7 — 23 22 2 30 5 — — 82 Total $ 12,318 $ 9,003 $ 4,243 $ 3,190 $ 1,065 $ 24,955 $ 492 $ — $ 55,266 Total loans $ 1,528,490 $ 1,271,582 $ 689,302 $ 437,225 $ 322,275 $ 1,061,537 $ 864,323 $ 5,765 $ 6,180,499 December 31, 2021 Amortized Cost Basis by Origination Year (in thousands) 2021 2020 2019 2018 2017 Prior Revolving Revolving to Term TOTAL Commercial & industrial Grades 1-4 $ 282,369 $ 146,131 $ 99,702 $ 69,478 $ 50,557 $ 71,247 $ 288,115 $ — $ 1,007,599 Grade 5 1,685 1,905 4,369 5,809 4,860 2,097 8,408 — 29,133 Grade 6 598 54 16 687 67 91 391 — 1,904 Grade 7 — 440 692 337 976 743 432 — 3,620 Total $ 284,652 $ 148,530 $ 104,779 $ 76,311 $ 56,460 $ 74,178 $ 297,346 $ — $ 1,042,256 Owner-occupied CRE Grades 1-4 $ 154,578 $ 94,300 $ 105,226 $ 92,128 $ 75,583 $ 202,816 $ 6,945 $ — $ 731,576 Grade 5 7,753 3,019 6,529 2,543 2,515 13,905 656 — 36,920 Grade 6 — — 1,642 — 20 805 — — 2,467 Grade 7 — 3,124 1,914 — 3,526 6,672 990 — 16,226 Total $ 162,331 $ 100,443 $ 115,311 $ 94,671 $ 81,644 $ 224,198 $ 8,591 $ — $ 787,189 Agricultural Grades 1-4 $ 128,404 $ 87,844 $ 28,416 $ 22,887 $ 36,298 $ 86,104 $ 235,743 $ — $ 625,696 Grade 5 14,796 4,183 2,391 915 3,912 48,373 26,778 — 101,348 Grade 6 38 38 36 — 86 1,049 85 — 1,332 Grade 7 3,284 3,971 3,490 4,201 7,215 31,672 12,519 — 66,352 Total $ 146,522 $ 96,036 $ 34,333 $ 28,003 $ 47,511 $ 167,198 $ 275,125 $ — $ 794,728 CRE investment Grades 1-4 $ 192,274 $ 139,127 $ 136,306 $ 56,148 $ 65,026 $ 162,991 $ 11,289 $ — $ 763,161 Grade 5 11,081 3,001 6,497 3,945 6,726 17,527 — — 48,777 Grade 6 — — — — — — — — — Grade 7 — — 456 141 1,352 3,943 231 — 6,123 Total $ 203,355 $ 142,128 $ 143,259 $ 60,234 $ 73,104 $ 184,461 $ 11,520 $ — $ 818,061 Construction & land development Grades 1-4 $ 81,891 $ 72,415 $ 12,547 $ 19,511 $ 1,184 $ 11,274 $ 10,943 $ — $ 209,765 Grade 5 640 — 521 919 — 119 — — 2,199 Grade 6 — — — — — — — — — Grade 7 — — — — 17 1,054 — — 1,071 Total $ 82,531 $ 72,415 $ 13,068 $ 20,430 $ 1,201 $ 12,447 $ 10,943 $ — $ 213,035 Residential construction Grades 1-4 $ 58,352 $ 9,998 $ 155 $ 344 $ 1,072 $ 380 $ — $ — $ 70,301 Grade 5 — — 52 — — — — — 52 Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 58,352 $ 9,998 $ 207 $ 344 $ 1,072 $ 380 $ — $ — $ 70,353 Residential first mortgage Grades 1-4 $ 256,082 $ 152,932 $ 168,705 $ 22,568 $ 20,147 $ 82,479 $ 1,840 $ 4 $ 704,757 Grade 5 713 529 3,094 — — 1,508 — — 5,844 Grade 6 — — — — — — — — — Grade 7 — — 560 225 73 2,524 — — 3,382 Total $ 256,795 $ 153,461 $ 172,359 $ 22,793 $ 20,220 $ 86,511 $ 1,840 $ 4 $ 713,983 Residential junior mortgage Grades 1-4 $ 3,194 $ 3,139 $ 3,021 $ 1,501 $ 512 $ 1,969 $ 115,817 $ 1,426 $ 130,579 Grade 5 — — 29 — — — 439 — 468 Grade 6 — — — — — — — — — Grade 7 — — 172 — 23 44 138 — 377 Total $ 3,194 $ 3,139 $ 3,222 $ 1,501 $ 535 $ 2,013 $ 116,394 $ 1,426 $ 131,424 Retail & other Grades 1-4 $ 13,676 $ 6,886 $ 5,826 $ 2,053 $ 1,882 $ 20,102 $ 275 $ — $ 50,700 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — 24 2 19 — 62 — — 107 Total $ 13,676 $ 6,910 $ 5,828 $ 2,072 $ 1,882 $ 20,164 $ 275 $ — $ 50,807 Total loans $ 1,211,408 $ 733,060 $ 592,366 $ 306,359 $ 283,629 $ 771,550 $ 722,034 $ 1,430 $ 4,621,836
Loan composition of nonaccrual and performing TDRs	The following table presents the loan composition of nonaccrual and performing TDRs. December 31, 2022 December 31, 2021 (in thousands) Performing Nonaccrual Total Performing Nonaccrual Total Commercial & industrial $ — $ 261 $ 261 $ — $ 197 $ 197 Owner-occupied CRE — 2,377 2,377 3,466 2,888 6,354 Agricultural — 15,037 15,037 — 16,835 16,835 CRE investment — 293 293 918 — 918 Construction & land development — 75 75 — 308 308 Residential first mortgage — 12 12 913 15 928 Residential junior mortgage — — — 146 — 146 Total $ — $ 18,055 $ 18,055 $ 5,443 $ 20,243 $ 25,686 The following table presents the number of loans modified in a TDR, pre-modification loan balance, and post-modification loan balance by loan composition. December 31, 2022 December 31, 2021 ($ in thousands) Number of Loans Pre-Modification Balance Current Balance Number of Loans Pre-Modification Balance Current Balance Commercial & industrial 3 $ 349 $ 261 2 $ 200 $ 197 Owner-occupied CRE 4 5,471 2,377 6 6,913 6,354 Agricultural 29 17,405 15,037 31 17,228 16,835 CRE investment 1 296 293 1 919 918 Construction & land development 1 533 75 1 533 308 Residential first mortgage 1 17 12 2 931 928 Residential junior mortgage — — — 1 166 146 Total 39 $ 24,071 $ 18,055 44 $ 26,890 $ 25,686

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment, less accumulated depreciation and amortization	Premises and equipment, less accumulated depreciation and amortization, is summarized as follows. (in thousands) December 31, 2022 December 31, 2021 Land $ 14,841 $ 10,806 Land improvements 5,361 3,896 Building and improvements 89,630 79,754 Leasehold improvements 7,079 6,514 Furniture and equipment 35,717 30,741 152,628 131,711 Less accumulated depreciation and amortization 43,672 37,145 Premises and equipment, net $ 108,956 $ 94,566
Schedule of operating lease	A summary of net lease cost and selected other information related to operating leases was as follows. Years Ended ($ in thousands) December 31, 2022 December 31, 2021 December 31, 2020 Net lease cost: Operating lease cost $ 1,778 $ 1,018 $ 834 Variable lease cost 448 234 169 Net lease cost $ 2,226 $ 1,252 $ 1,003 Selected other operating lease information: Weighted average remaining lease term (years) 5.4 6.3 5.1 Weighted average discount rate 2.3 % 1.5 % 2.0 %
Schedule of maturity of remaining lease liabilities	The following table summarizes the maturity of remaining lease liabilities. Years Ending December 31, (in thousands) 2023 $ 2,437 2024 2,200 2025 1,876 2026 1,688 2027 1,519 Thereafter 1,417 Total future minimum lease payments 11,137 Less: amount representing interest (252) Present value of net future minimum lease payments $ 10,885

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill and other intangibles	A summary of goodwill and other intangibles was as follows. (in thousands) December 31, 2022 December 31, 2021 Goodwill $ 367,387 $ 317,189 Core deposit intangibles 32,701 19,445 Customer list intangibles 2,350 2,858 Other intangibles 35,051 22,303 Goodwill and other intangibles, net $ 402,438 $ 339,492
Schedule of goodwill	(in thousands) December 31, 2022 December 31, 2021 Goodwill: Goodwill at beginning of year $ 317,189 $ 163,151 Acquisitions 49,970 154,038 Purchase accounting adjustment 228 — Goodwill at end of year $ 367,387 $ 317,189
Schedule of other intangibles	(in thousands) December 31, 2022 December 31, 2021 Core deposit intangibles: Gross carrying amount $ 60,724 $ 41,360 Accumulated amortization (28,023) (21,915) Net book value $ 32,701 $ 19,445 Additions during the period $ 19,364 $ 13,595 Amortization during the period $ 6,108 $ 2,987 Customer list intangibles: Gross carrying amount $ 5,523 $ 5,523 Accumulated amortization (3,173) (2,665) Net book value $ 2,350 $ 2,858 Amortization during the period $ 508 $ 507
Schedule of mortgage servicing rights	A summary of the changes in the MSR asset was as follows. (in thousands) December 31, 2022 December 31, 2021 MSR asset: MSR asset at beginning of year $ 13,636 $ 10,230 Capitalized MSR 2,327 4,329 MSR asset acquired — 1,322 Amortization during the period (2,883) (2,245) MSR asset at end of year $ 13,080 $ 13,636 Valuation allowance at beginning of year $ (1,200) $ (1,000) Additions — (500) Reversals 700 300 Valuation allowance at end of year $ (500) $ (1,200) MSR asset, net $ 12,580 $ 12,436 Fair value of MSR asset at end of period $ 17,215 $ 15,599 Residential mortgage loans serviced for others $ 1,637,109 $ 1,583,577 Net book value of MSR asset to loans serviced for others 0.77 % 0.79 % (in thousands) December 31, 2022 December 31, 2021 LSR asset: LSR asset at beginning of year $ 20,055 $ — LSR asset acquired — 20,055 Amortization during the period (9,016) — LSR asset at end of year $ 11,039 $ 20,055 Agricultural loans serviced for others $ 538,392 $ 793,655
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 servicing assets. The projections are based on existing asset balances, the current interest rate environment and prepayment speeds as of December 31, 2022. 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 LSR asset Years Ending December 31, 2023 $ 7,589 $ 483 $ 2,402 $ 2,208 2024 6,298 449 2,657 1,962 2025 5,161 449 1,913 1,717 2026 3,983 249 1,414 1,472 2027 3,218 166 1,413 1,227 Thereafter 6,452 554 3,281 2,453 Total $ 32,701 $ 2,350 $ 13,080 $ 11,039

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Schedule of summary of OREO	A summary of OREO, which is included in other assets in the consolidated balance sheets, for the periods indicated was as follows. Years Ended December 31, (in thousands) 2022 2021 Balance at beginning of period $ 11,955 $ 3,608 Transfer in loans at net realizable value 183 334 Transfer in former bank branch properties at net realizable value 25 7,843 Sales proceeds (13,150) (2,743) Net gain from sales 3,206 597 Write-downs (244) (28) Acquired balance, net — 2,344 Balance at end of period $ 1,975 $ 11,955

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2022
Deposits [Abstract]
Schedule of deposit composition	The deposit composition was as follows. December 31, 2022 December 31, 2021 (in thousands) Amount % of Total Amount % of Total Noninterest-bearing demand $ 2,361,816 33 % $ 1,975,705 31 % Interest-bearing demand 1,279,850 18 % 1,272,858 20 % Money market 1,707,619 24 % 1,561,966 24 % Savings 931,417 13 % 803,197 12 % Time 898,219 12 % 852,190 13 % Total deposits $ 7,178,921 100 % $ 6,465,916 100 %
Schedule of maturities of time deposits	At December 31, 2022, the scheduled maturities of time deposits were as follows. Years Ending December 31, (in thousands) 2023 $ 464,568 2024 288,059 2025 112,284 2026 20,321 2027 12,217 Thereafter 770 Total time deposits $ 898,219

SHORT AND LONG-TERM BORROWINGS

SHORT AND LONG-TERM BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of long-term borrowings	The components of long-term borrowings were as follows. (in thousands) December 31, 2022 December 31, 2021 FHLB advances $ 33,000 $ 25,000 Junior subordinated debentures 39,720 38,885 Subordinated notes 152,622 153,030 Total long-term borrowings $ 225,342 $ 216,915
Schedule of maturity of FHLB advances	The following table shows the maturity schedule of the FHLB advances as of December 31, 2022. Maturing in: (in thousands) 2023 $ — 2024 — 2025 5,000 2026 — 2027 — Thereafter 28,000 $ 33,000
Schedule of junior subordinated debentures	The following table shows the breakdown of junior subordinated debentures and subordinated notes. As of 12/31/2022 As of 12/31/2021 (in thousands) Maturity Interest Par Unamortized Premium /(Discount) / Debt Issue Costs (1) Carrying Interest Carrying Junior Subordinated Debentures: Mid-Wisconsin Statutory Trust I (2) 12/15/2035 6.20 % $ 10,310 $ (2,576) $ 7,734 1.63 % $ 7,537 Baylake Capital Trust II (3) 9/30/2036 6.08 % 16,598 (3,174) 13,424 1.57 % 13,187 First Menasha Statutory Trust (4) 3/17/2034 7.53 % 5,155 (487) 4,668 3.01 % 4,624 County Bancorp Statutory Trust II (5) 9/15/2035 6.30 % 6,186 (909) 5,277 1.73 % 5,061 County Bancorp Statutory Trust III (6) 6/15/2036 6.46 % 6,186 (967) 5,219 1.89 % 5,121 Fox River Valley Capital Trust (7) 5/30/2033 6.40 % 3,610 (212) 3,398 6.40 % 3,355 Total $ 48,045 $ (8,325) $ 39,720 $ 38,885 Subordinated Notes: Subordinated Notes due 2031 7/15/2031 3.13 % $ 100,000 $ (733) $ 99,267 3.13 % $ 99,057 County Subordinated Notes due 2028 6/1/2028 5.88 % 30,000 119 30,119 5.88 % 30,402 County Subordinated Notes due 2030 6/30/2030 7.00 % 22,400 836 23,236 7.00 % 23,571 Total $ 152,400 $ 222 $ 152,622 $ 153,030 1. Represents the remaining unamortized premium or discount on debt issuances assumed in acquisitions, and represents the unamortized debt issue costs for the debt issued directly by Nicolet. 2. The debentures, assumed in April 2013 as the result of an acquisition, have a floating rate of three-month LIBOR plus 1.43%, adjusted quarterly. 3. The debentures, assumed in April 2016 as a result of an acquisition, have a floating rate of three-month LIBOR plus 1.35%, adjusted quarterly. 4. The debentures, assumed in April 2017 as the result of an acquisition, have a floating rate of three-month LIBOR plus 2.79%, adjusted quarterly. 5. The debentures, assumed in December 2021 as the result of an acquisition, have a floating rate of three-month LIBOR plus 1.53%, adjusted quarterly. 6. The debentures, assumed in December 2021 as the result of an acquisition, have a floating rate of three-month LIBOR plus 1.69%, adjusted quarterly. 7. The debentures, assumed in December 2021 as the result of an acquisition, have a floating rate of 5-year LIBOR plus 3.40%, which resets every five years.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of weighted average assumptions for valuing stock option grants	The weighted average assumptions used in the model for valuing stock option grants were as follows. 2022 2021 2020 Dividend yield — % — % — % Expected volatility 30 % 30 % 25 % Risk-free interest rate 3.03 % 1.19 % 1.35 % Expected average life 7 years 7 years 7 years Weighted average per share fair value of options $ 30.99 $ 26.33 $ 20.55
Schedule of stock option activity	A summary of the Company’s stock option activity is summarized below. Stock Options Option Shares Weighted Average Weighted Average Remaining Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding – December 31, 2019 1,443,733 $ 48.75 Granted 54,500 69.44 Exercise of stock options * (60,773) 26.51 Forfeited — — Outstanding – December 31, 2020 1,437,460 $ 50.47 6.6 $ 23,840 Granted 450,000 77.99 Exercise of stock options * (53,214) 34.40 Forfeited (1,000) 48.85 Outstanding – December 31, 2021 1,833,246 $ 57.69 6.6 $ 51,426 Granted 132,929 81.04 Exercise of stock options * (82,611) 41.84 Forfeited (30,500) 75.08 Outstanding – December 31, 2022 1,853,064 $ 59.79 5.9 $ 37,526 Exercisable – December 31, 2022 1,267,935 $ 51.83 4.8 $ 35,461 *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, and accordingly 7,957 shares, 10,354 shares, and 18,952 shares were surrendered during 2022, 2021, and 2020, respectively.
Schedule of options outstanding	The following options were outstanding at December 31, 2022. Number of Shares Weighted Average Weighted Average Outstanding Exercisable Outstanding Exercisable Outstanding Exercisable $23.80 – $40.00 154,585 154,585 $ 32.21 $ 32.21 2.9 2.9 $40.01 – $50.00 751,450 751,450 48.85 48.85 4.4 4.4 $50.01 – $65.00 163,500 151,400 56.44 56.41 5.1 5.0 $65.01 – $75.00 277,100 135,800 71.02 70.67 7.3 7.0 $75.01 – $94.90 506,429 74,700 79.37 78.77 8.7 8.4 1,853,064 1,267,935 $ 59.79 $ 51.83 5.9 4.8
Schedule of restricted stock	A summary of the Company’s restricted stock activity is summarized below. Restricted Stock Restricted Shares Weighted Average Grant Outstanding – December 31, 2019 22,521 $ 44.94 Granted 19,672 60.29 Vested * (23,268) 50.90 Forfeited — — Outstanding – December 31, 2020 18,925 $ 53.57 Granted 33,153 75.83 Vested * (25,831) 64.53 Forfeited (446) 41.44 Outstanding – December 31, 2021 25,801 $ 71.42 Granted 72,948 76.81 Vested * (24,659) 72.64 Forfeited (600) 56.01 Outstanding – December 31, 2022 73,490 $ 76.49 *The terms of the restricted stock agreements permit the surrender of shares to the Company upon vesting in order to satisfy applicable tax withholding at the minimum statutory withholding rate, and accordingly 2,249 shares, 3,215 shares, and 4,733 shares were surrendered during 2022, 2021, and 2020, respectively.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of current and deferred amounts of income tax expense	The current and deferred amounts of income tax expense were as follows. Years Ended December 31, (in thousands) 2022 2021 2020 Current $ 44,384 $ 14,138 $ 29,764 Deferred (12,907) 6,332 (9,288) Income tax expense $ 31,477 $ 20,470 $ 20,476
Schedule of income tax reconciliation	The differences between the income tax expense recognized and the amount computed by applying the statutory federal income tax rate of 21% to the income before income tax expense, less noncontrolling interest, for the years ended as indicated are included in the following table. Years Ended December 31, (in thousands) 2022 2021 2020 Tax on pretax income, less noncontrolling interest, at statutory rates $ 26,405 $ 17,023 $ 16,926 State income taxes, net of federal effect 7,847 5,064 5,030 Tax-exempt interest income (1,037) (517) (513) Increase in cash surrender value life insurance (1,040) (570) (738) Stock-based employee compensation (1,101) (618) (839) Executive compensation 82 163 272 Other, net 321 (75) 338 Income tax expense $ 31,477 $ 20,470 $ 20,476
Schedule of net deferred tax asset	The net deferred tax asset includes the following amounts of deferred tax assets and liabilities. (in thousands) December 31, 2022 December 31, 2021 Deferred tax assets: ACL-Loans $ 22,379 $ 14,650 Net operating loss carryforwards 2,721 3,800 Compensation 10,274 9,194 Other 1,759 2,605 Other real estate 672 1,364 Basis difference on acquired securities 3,172 — Unrealized loss on securities AFS 21,011 — Total deferred tax assets 61,988 31,613 Deferred tax liabilities: Premises and equipment (3,000) (3,860) Prepaid expenses (801) (1,110) Basis difference on acquired securities — (1,678) Core deposit and other intangibles (8,817) (5,278) Purchase accounting adjustments to liabilities (1,595) (1,725) MSR and LSR assets (6,570) (8,726) Other (513) (2,462) Unrealized gain on securities AFS — (1,392) Total deferred tax liabilities (21,296) (26,231) Net deferred tax assets $ 40,692 $ 5,382

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of summary of the contract or notional amount of exposure to off-balance-sheet risk	A summary of the contract or notional amount of the Company’s exposure to off-balance sheet risk was as follows. (in thousands) December 31, 2022 December 31, 2021 Commitments to extend credit $ 1,850,601 $ 1,433,881 Financial standby letters of credit 26,530 13,562 Performance standby letters of credit 9,375 7,336

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Summary of Loans to Related Parties	A summary of the loans to related parties was as follows. (in thousands) December 31, 2022 Balance at beginning of year $ 112,917 New loans 20,713 Repayments (21,131) Changes due to status of executive officers and directors (1,792) Balance at end of year $ 110,707

ASSETS GAINS (LOSSES), NET (Tab

ASSETS GAINS (LOSSES), NET (Tables)	12 Months Ended
	Dec. 31, 2022
Assets Gains (Losses), Net [Abstract]
Schedule of components of the net gain (losses) on assets	Components of the net gains (losses) on assets are as follows. Years Ended December 31, (in thousands) 2022 2021 2020 Gains (losses) on sales of securities AFS, net $ (244) $ (283) $ 395 Gains (losses) on equity securities, net (127) 3,445 (987) Gains (losses) on sales of OREO, net 3,206 597 157 Write-downs of OREO (244) (28) (1,040) Write-down of other investment — — (100) Gains (losses) on sales of other investments, net 531 550 — Gains (losses) on sales or dispositions of other assets, net 8 (100) (230) Asset gains (losses), net $ 3,130 $ 4,181 $ (1,805)

REGULATORY CAPITAL REQUIREMEN_2

REGULATORY CAPITAL REQUIREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Regulatory Capital Requirements Under Banking Regulations [Abstract]
Schedule of Bank's actual regulatory capital amounts and ratios	The Company’s and the Bank’s actual regulatory capital amounts and ratios are presented in the following table. Actual For Capital Adequacy To Be Well Capitalized Under Prompt Corrective Action Provisions (2) (in thousands) Amount Ratio (1) Amount Ratio (1) Amount Ratio (1) December 31, 2022 Company Total risk-based capital $ 889,763 12.3 % $ 577,138 8.0 % Tier 1 risk-based capital 684,280 9.5 432,853 6.0 Common equity Tier 1 capital 646,341 9.0 324,640 4.5 Leverage 684,280 8.2 335,621 4.0 Bank Total risk-based capital $ 816,951 11.3 % $ 576,241 8.0 % $ 720,301 10.0 % Tier 1 risk-based capital 764,090 10.6 432,181 6.0 576,241 8.0 Common equity Tier 1 capital 764,090 10.6 324,135 4.5 468,196 6.5 Leverage 764,090 9.1 334,916 4.0 418,645 5.0 December 31, 2021 Company Total risk-based capital $ 793,410 13.8 % $ 459,648 8.0 % Tier 1 risk-based capital 604,199 10.5 344,736 6.0 Common equity Tier 1 capital 567,095 9.9 258,552 4.5 Leverage 604,199 9.4 256,990 4.0 Bank Total risk-based capital $ 700,869 12.2 % $ 459,476 8.0 % $ 574,345 10.0 % Tier 1 risk-based capital 664,688 11.6 344,607 6.0 459,476 8.0 Common equity Tier 1 capital 664,688 11.6 258,455 4.5 373,324 6.5 Leverage 664,688 10.3 256,990 4.0 321,237 5.0 (1) The Total risk-based capital ratio is defined as Tier 1 capital plus tier 2 capital divided by total risk-weighted assets. The Tier 1 risk-based capital ratio is defined as Tier 1 capital divided by total risk-weighted assets. CET1 risk-based capital ratio is defined as Tier 1 capital, with deductions for goodwill and other intangible assets (other than mortgage servicing assets), net of associated deferred tax liabilities, and limitations on the inclusion of deferred tax assets, mortgage servicing assets and investments in other financial institutions, in each case as provided further in the rules, divided by total risk-weighted assets. The Leverage ratio is defined as Tier 1 capital divided by the most recent quarter’s average total assets as adjusted. (2) Prompt corrective action provisions are not applicable at the bank holding company level.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
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. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Recurring Basis: Total Level 1 Level 2 Level 3 December 31, 2022 U.S. Treasury securities $ 183,830 $ — $ 183,830 $ — U.S. government agency securities 2,100 — 2,100 — State, county and municipals 398,188 — 396,315 1,873 Mortgage-backed securities 200,932 — 199,951 981 Corporate debt securities 132,568 — 127,269 5,299 Securities AFS $ 917,618 $ — $ 909,465 $ 8,153 Other investments (equity securities) $ 4,376 $ 4,376 $ — $ — Derivative assets — — — — Derivative liabilities — — — — December 31, 2021 U.S. Treasury securities $ 190,272 $ — $ 190,272 $ — U.S. government agency securities 1,005 — 1,005 — State, county and municipals 312,737 — 310,316 2,421 Mortgage-backed securities 271,262 — 270,260 1,002 Corporate debt securities 146,385 — 141,743 4,642 Securities AFS $ 921,661 $ — $ 913,596 $ 8,065 Other investments (equity securities) $ 5,660 $ 5,660 $ — $ — Derivative assets 1,064 — 1,064 — Derivative liabilities 1,064 — 1,064 —
Schedule of changes in Level 3 securities AFS measured at fair value on a recurring basis	The following table presents the changes in Level 3 securities AFS measured at fair value on a recurring basis. (in thousands) Years Ended Level 3 Fair Value Measurements: December 31, 2022 December 31, 2021 Balance at beginning of year $ 8,065 $ 3,130 Acquired balances 750 4,935 Paydowns/Sales/Settlements (451) — Unrealized gains / (losses) (211) — Balance at end of year $ 8,153 $ 8,065
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 the 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 December 31, 2022 Collateral dependent loans $ 30,951 $ — $ — $ 30,951 OREO 1,975 — — 1,975 MSR asset 12,580 — — 12,580 December 31, 2021 Collateral dependent loans $ 36,230 $ — $ — $ 36,230 OREO 11,955 — — 11,955 MSR asset 12,436 — — 12,436
Schedule of estimated fair values of financial instruments	The carrying amounts and estimated fair values of the Company’s financial instruments are shown below. December 31, 2022 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 154,723 $ 154,723 $ 154,723 $ — $ — Certificates of deposit in other banks 12,518 12,407 — 12,407 — Securities AFS 917,618 917,618 — 909,465 8,153 Securities HTM 679,128 623,352 — 623,352 — Other investments 65,286 65,286 4,376 52,093 8,817 Loans held for sale 1,482 1,529 — 1,529 — Loans, net 6,118,670 5,863,570 — — 5,863,570 MSR asset 12,580 17,215 — — 17,215 Accrued interest receivable 21,275 21,275 21,275 — — Financial liabilities: Deposits $ 7,178,921 $ 7,172,779 $ — $ — $ 7,172,779 Short-term borrowings 317,000 317,000 317,000 — — Long-term borrowings 225,342 220,513 — 33,001 187,512 Accrued interest payable 4,265 4,265 4,265 — — December 31, 2021 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 595,292 $ 595,292 $ 595,292 $ — $ — Certificates of deposit in other banks 21,920 22,236 — 22,236 — Securities AFS 921,661 921,661 — 913,596 8,065 Securities HTM 651,803 648,394 — 648,394 — Other investments 44,008 44,008 5,660 32,110 6,238 Loans held for sale 6,447 6,616 — 6,616 — Loans, net 4,572,164 4,606,851 — — 4,606,851 MSR asset 12,436 15,599 — — 15,599 Accrued interest receivable 15,277 15,277 15,277 — — Financial liabilities: Deposits $ 6,465,916 $ 6,463,064 $ — $ — $ 6,463,064 Long-term borrowings 216,915 216,092 — 25,097 190,995 Accrued interest payable 3,078 3,078 3,078 — —

PARENT COMPANY ONLY FINANCIAL_2

PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
Schedule of parent company only condensed financial statements	Condensed Parent Company only financial statements of Nicolet Bankshares, Inc. follow. Balance Sheets December 31, (in thousands) 2022 2021 Assets Cash and due from subsidiary $ 63,927 $ 84,656 Investments 10,313 9,684 Investments in subsidiaries 1,094,063 998,032 Other assets 392 1,503 Total assets $ 1,168,695 $ 1,093,875 Liabilities and Stockholders’ Equity Junior subordinated debentures $ 39,720 $ 38,885 Subordinated notes 152,622 153,030 Other liabilities 3,824 10,069 Stockholders’ equity 972,529 891,891 Total liabilities and stockholders’ equity $ 1,168,695 $ 1,093,875 Statements of Income Years Ended December 31, (in thousands) 2022 2021 2020 Interest income $ 81 $ 18 $ 39 Interest expense 8,687 2,959 2,313 Net interest expense (8,606) (2,941) (2,274) Dividend income from subsidiaries 77,775 65,000 60,215 Operating expense (457) (2,562) (886) Gain (loss) on investments, net 395 3,995 (1,087) Income tax benefit 2,373 437 1,102 Earnings before equity in undistributed income (loss) of subsidiaries 71,480 63,929 57,070 Equity in undistributed income (loss) of subsidiaries 22,780 (3,277) 3,052 Net income attributable to Nicolet Bankshares, Inc. $ 94,260 $ 60,652 $ 60,122 Statements of Cash Flows Years Ended December 31, (in thousands) 2022 2021 2020 Cash Flows From Operating Activities: Net income attributable to Nicolet Bankshares, Inc. $ 94,260 $ 60,652 $ 60,122 Adjustments to reconcile net income to net cash provided by operating activities: Accretion of discounts on borrowings 427 584 486 (Gain) loss on investments, net (395) (3,995) 1,087 Change in other assets and liabilities, net (1,775) 1,013 1,786 Equity in undistributed (income) loss of subsidiaries, net of dividends (22,780) 3,277 (3,052) Net cash provided by operating activities 69,737 61,531 60,429 Cash Flows from Investing Activities: Proceeds from sale of investments 1,835 4,105 185 Purchases of investments (2,116) (5,049) (1,179) Net cash paid in business combinations (31,970) (63,892) (21,644) Net cash used in investing activities (32,251) (64,836) (22,638) Cash Flows From Financing Activities: Purchase and retirement of common stock (61,497) (62,583) (42,088) Proceeds from issuance of common stock, net 3,282 2,382 2,055 Capitalized issuance costs, net — (789) — Repayment of long-term borrowings — — (18,186) Proceeds from issuance of subordinated notes, net — 98,953 — Net cash provided by (used in) financing activities (58,215) 37,963 (58,219) Net increase (decrease) in cash and due from subsidiary (20,729) 34,658 (20,428) Beginning cash and due from subsidiary 84,656 49,998 70,426 Ending cash and due from subsidiary $ 63,927 $ 84,656 $ 49,998

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of earnings per common share	Presented below are the calculations for basic and diluted earnings per common share. Years Ended December 31, (in thousands, except per share data) 2022 2021 2020 Net income attributable to Nicolet Bankshares, Inc. $ 94,260 $ 60,652 $ 60,122 Weighted average common shares outstanding 13,909 10,736 10,337 Effect of dilutive common stock awards 466 409 204 Diluted weighted average common shares outstanding 14,375 11,145 10,541 Basic earnings per common share $ 6.78 $ 5.65 $ 5.82 Diluted earnings per common share $ 6.56 $ 5.44 $ 5.70

NATURE OF BUSINESS AND SIGNIF_4

NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) subsidiary	Dec. 31, 2022 USD ($) subsidiary segment	Sep. 30, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of wholly owned subsidiaries | subsidiary	3	3
Number of reportable segments | segment		1
Number of operating segments | segment		1
Loans, threshold period past due	90 days	90 days
Material loans criteria for ACL-Loans adequacy calculation | $		$ 250,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Interest Receivable and Other Assets	Interest Receivable and Other Assets		Interest Receivable and Other Assets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued interest payable and other liabilities	Accrued interest payable and other liabilities		Accrued interest payable and other liabilities
Investments recorded at hypothetical liquidation book value | $	$ 7,600,000	$ 7,600,000
Core deposit intangibles:
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Amortized period of core deposit intangible		10 years
Customer list intangibles
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Amortized period of core deposit intangible		12 years
Nicolet Joint Ventures, LLC (the "JV")
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage in subsidiary	100%
Nicolet Joint Ventures, LLC (the "JV")
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage by noncontrolling owners			50%
Noncontrolling interest, ownership percentage purchased	50%

NATURE OF BUSINESS AND SIGNIF_5

NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives Of Premises and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Minimum | Building and improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives of new premises and equipment	25 years
Minimum | Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives of new premises and equipment	5 years
Minimum | Furniture and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives of new premises and equipment	3 years
Maximum | Building and improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives of new premises and equipment	40 years
Maximum | Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives of new premises and equipment	15 years
Maximum | Furniture and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives of new premises and equipment	10 years

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ / shares in Units, $ in Thousands					12 Months Ended
	Aug. 26, 2022 USD ($) $ / shares shares	Dec. 03, 2021 USD ($) $ / shares shares	Sep. 03, 2021 USD ($) $ / shares shares	Aug. 21, 2020 USD ($) branch	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Aug. 20, 2020
Business Acquisition [Line Items]
Acquisitions					$ 49,970	$ 154,038
Advantage Community Bancshares, Inc.
Business Acquisition [Line Items]
Percentage of assets represented by acquiree							0.04
Charter Bankshares, Inc.
Business Acquisition [Line Items]
Entity shares issued per acquiree share (in shares) | shares	15.458
Cash paid per acquiree share (in dollars per share) | $ / shares	$ 475
Nicolet common stock issued (in shares) | shares	1,262,360
Value of Nicolet common stock consideration	$ 98,000
Cash consideration paid	39,000
Total purchase price	137,000
Total assets	1,110,000				1,121,000
Acquisitions	$ 50,000
County Bancorp, Inc.
Business Acquisition [Line Items]
Entity shares issued per acquiree share (in shares) | shares		0.48
Cash paid per acquiree share (in dollars per share) | $ / shares		$ 37.18
Nicolet common stock issued (in shares) | shares		2,366,243
Value of Nicolet common stock consideration		$ 176,000
Cash consideration paid		48,000
Total purchase price		$ 224,000
Shares exchanged for cash (in shares) | shares		1,237,000
Total assets		$ 1,405,000			$ 1,412,000
Acquisitions		$ 70,000
Mackinac Financial Corporation
Business Acquisition [Line Items]
Entity shares issued per acquiree share (in shares) | shares			0.22
Cash paid per acquiree share (in dollars per share) | $ / shares			$ 4.64
Nicolet common stock issued (in shares) | shares			2,337,230
Value of Nicolet common stock consideration			$ 180,000
Cash consideration paid			49,000
Total purchase price			$ 229,000
Cash paid per acquiree share (in percent)			20%
Entity shares issued per acquiree share (in percent)			80%
Acquisitions			$ 84,000
Advantage Community Bancshares, Inc.
Business Acquisition [Line Items]
Number of branches | branch				4
Total assets				$ 172,000
Loans acquired				88,000
Deposits acquired				141,000
Acquisitions				12,000
Advantage Community Bancshares, Inc. | Core deposit intangibles:
Business Acquisition [Line Items]
Intangible assets acquired				$ 1,000

ACQUISITIONS - Summary of the A

ACQUISITIONS - Summary of the Assets Acquired and Liabilities Assumed, including Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands			4 Months Ended	12 Months Ended		13 Months Ended
	Aug. 26, 2022	Dec. 03, 2021	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022
Purchase Price:
Goodwill				$ 49,970	$ 154,038
Charter Bankshares, Inc.
Assets Acquired:
Cash and cash equivalents	$ 10,000		$ 10,000	10,000		$ 10,000
Investment securities	218,000		218,000	218,000		218,000
Loans	848,000		827,000	827,000		827,000
ACL-Loans	(9,000)		(2,000)	(2,000)		(2,000)
Premises and equipment	9,000		10,000	10,000		10,000
BOLI	29,000		29,000	29,000		29,000
Other intangibles	0		19,000	19,000		19,000
Other assets	5,000		10,000	10,000		10,000
Total assets	1,110,000		1,121,000	1,121,000		1,121,000
Liabilities Assumed:
Deposits	869,000		870,000	870,000		870,000
Borrowings	161,000		161,000	161,000		161,000
Other liabilities	3,000		3,000	3,000		3,000
Total liabilities	$ 1,033,000		1,034,000	1,034,000		1,034,000
Net assets acquired			87,000	87,000		87,000
Assets Acquired:
Cash and cash equivalents			0
Investment securities			0
Loans			(21,000)
ACL-Loans			7,000
Premises and equipment			1,000
BOLI			0
Core deposit intangible			19,000
Other assets			5,000
Total assets			11,000
Liabilities Assumed:
Deposits			1,000
Borrowings			0
Other liabilities			0
Total liabilities			1,000
Purchase Price:
Nicolet common stock issued (in shares)	1,262,360
Value of Nicolet common stock consideration	$ 98,000
Cash consideration paid	39,000
Total purchase price	137,000
Goodwill	$ 50,000
County Bancorp, Inc.
Assets Acquired:
Cash and cash equivalents		$ 20,000	20,000	20,000		20,000
Investment securities		301,000	300,000	300,000		300,000
Loans		1,015,000	1,014,000	1,014,000		1,014,000
ACL-Loans		(11,000)	(3,000)	(3,000)		(3,000)
Premises and equipment		21,000	17,000	17,000		17,000
BOLI		33,000	33,000	33,000		33,000
Other intangibles		0	7,000	7,000		7,000
Loan servicing rights		20,000	20,000	20,000		20,000
Other assets		6,000	4,000	4,000		4,000
Total assets		1,405,000	1,412,000	1,412,000		1,412,000
Liabilities Assumed:
Deposits		1,027,000	1,030,000	1,030,000		1,030,000
Borrowings		218,000	219,000	219,000		219,000
Other liabilities		8,000	8,000	8,000		8,000
Total liabilities		$ 1,253,000	1,257,000	1,257,000		1,257,000
Net assets acquired			$ 155,000	$ 155,000		155,000
Assets Acquired:
Cash and cash equivalents						0
Investment securities						(1,000)
Loans						(1,000)
ACL-Loans						8,000
Premises and equipment						(4,000)
BOLI						0
Core deposit intangible						7,000
Loan servicing rights						0
Other assets						(2,000)
Total assets						7,000
Liabilities Assumed:
Deposits						3,000
Borrowings						1,000
Other liabilities						0
Total liabilities						$ 4,000
Purchase Price:
Nicolet common stock issued (in shares)		2,366,243
Value of Nicolet common stock consideration		$ 176,000
Cash consideration paid		48,000
Total purchase price		224,000
Write-off of prior investment		(1,000)
Goodwill		$ 70,000

ACQUISITIONS - Summary of the_2

ACQUISITIONS - Summary of the Assets Acquired (Including Goodwill) and Liabilities Assumed, including Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands		12 Months Ended		16 Months Ended
	Sep. 03, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2020
Assets Acquired:
Goodwill		$ 367,387	$ 317,189	$ 367,387	$ 163,151
Assets Acquired:
Goodwill		228	0
Purchase Price:
Goodwill		49,970	$ 154,038
Mackinac Financial Corporation
Assets Acquired:
Cash and cash equivalents	$ 448,000	448,000		448,000
Investment securities	104,000	104,000		104,000
Loans	930,000	940,000		940,000
ACL-Loans	(6,000)	(2,000)		(2,000)
Premises and equipment	24,000	21,000		21,000
BOLI	16,000	16,000		16,000
Goodwill	20,000	0		0
Other intangibles	4,000	7,000		7,000
Other assets	25,000	22,000		22,000
Total assets	1,565,000	1,556,000		1,556,000
Liabilities Assumed:
Deposits	1,365,000	1,366,000		1,366,000
Borrowings	28,000	29,000		29,000
Other liabilities	13,000	14,000		14,000
Total liabilities	$ 1,406,000	1,409,000		1,409,000
Net assets acquired		$ 147,000		147,000
Assets Acquired:
Cash and cash equivalents				0
Investment securities				0
Loans				10,000
ACL-Loans				4,000
Premises and equipment				(3,000)
BOLI				0
Goodwill				(20,000)
Core deposit intangible				3,000
Other assets				(3,000)
Total assets				(9,000)
Liabilities Assumed:
Deposits				1,000
Borrowings				1,000
Other liabilities				1,000
Total liabilities				$ 3,000
Purchase Price:
Nicolet common stock issued (in shares)	2,337,230
Value of Nicolet common stock consideration	$ 180,000
Cash consideration paid	49,000
Total purchase price	229,000
Write-off of prior investment	(2,000)
Goodwill	$ 84,000

ACQUISITIONS - Carrying Value o

ACQUISITIONS - Carrying Value of PCD Loans Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Aug. 26, 2022	Dec. 03, 2021	Sep. 03, 2021
Charter Bankshares, Inc.
Business Acquisition [Line Items]
Allowance for credit losses on PCD loans at acquisition	$ 2,000	$ 9,000
Par value of PCD acquired loans at acquisition	827,000	848,000
Charter Bankshares, Inc. | PCD loans aquired
Business Acquisition [Line Items]
Purchase price of PCD loans at acquisition		24,031
Allowance for credit losses on PCD loans at acquisition		1,709
Par value of PCD acquired loans at acquisition		$ 25,740
County Bancorp, Inc.
Business Acquisition [Line Items]
Allowance for credit losses on PCD loans at acquisition	3,000		$ 11,000
Par value of PCD acquired loans at acquisition	1,014,000		1,015,000
County Bancorp, Inc. | PCD loans aquired
Business Acquisition [Line Items]
Purchase price of PCD loans at acquisition			64,720
Allowance for credit losses on PCD loans at acquisition			3,490
Par value of PCD acquired loans at acquisition			$ 68,210
Mackinac Financial Corporation
Business Acquisition [Line Items]
Allowance for credit losses on PCD loans at acquisition	2,000			$ 6,000
Par value of PCD acquired loans at acquisition	$ 940,000			930,000
Mackinac Financial Corporation | PCD loans aquired
Business Acquisition [Line Items]
Purchase price of PCD loans at acquisition				10,605
Allowance for credit losses on PCD loans at acquisition				1,896
Par value of PCD acquired loans at acquisition				$ 12,501

ACQUISITIONS - Unaudited Pro Fo

ACQUISITIONS - Unaudited Pro Forma Information (Details) - County Bancorp, Inc and Mackinac Financial Corporation - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Total revenue, net of interest expense	$ 320,307	$ 308,325
Net income	$ 87,860	$ 77,641
Diluted earnings per common share (in dollars per share)	$ 5.91	$ 5.21

SECURITIES AND OTHER INVESTME_3

SECURITIES AND OTHER INVESTMENTS - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Securities pledged as collateral	$ 883,000,000	$ 277,000,000
Accrued interest on securities	6,000,000	5,000,000
Allowance for credit losses on securities AFS	0	0	$ 0
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Allowance for credit losses on securities HTM	$ 0	$ 0

SECURITIES AND OTHER INVESTME_4

SECURITIES AND OTHER INVESTMENTS - Amortized Costs and Fair Values of Securities AFS and HTM (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 996,344	$ 917,412
Gross Unrealized Gains	136	9,777
Gross Unrealized Losses	78,862	5,528
Securities available for sale (“AFS”), at fair value	917,618	921,661
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	679,128	651,803
Gross Unrealized Gains	46	99
Gross Unrealized Losses	55,822	3,508
Fair Value	623,352	648,394
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	192,116	191,507
Gross Unrealized Gains	0	0
Gross Unrealized Losses	8,286	1,235
Securities available for sale (“AFS”), at fair value	183,830	190,272
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	497,648	496,939
Gross Unrealized Gains	0	0
Gross Unrealized Losses	35,722	2,738
Fair Value	461,926	494,201
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,133	999
Gross Unrealized Gains	0	6
Gross Unrealized Losses	33	0
Securities available for sale (“AFS”), at fair value	2,100	1,005
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	8,744	11,871
Gross Unrealized Gains	46	0
Gross Unrealized Losses	0	2
Fair Value	8,790	11,869
State, county and municipals
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	433,733	311,717
Gross Unrealized Gains	123	3,222
Gross Unrealized Losses	35,668	2,202
Securities available for sale (“AFS”), at fair value	398,188	312,737
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	34,874	42,876
Gross Unrealized Gains	0	10
Gross Unrealized Losses	3,349	173
Fair Value	31,525	42,713
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	227,650	270,017
Gross Unrealized Gains	10	3,090
Gross Unrealized Losses	26,728	1,845
Securities available for sale (“AFS”), at fair value	200,932	271,262
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	137,862	100,117
Gross Unrealized Gains	0	89
Gross Unrealized Losses	16,751	595
Fair Value	121,111	99,611
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	140,712	143,172
Gross Unrealized Gains	3	3,459
Gross Unrealized Losses	8,147	246
Securities available for sale (“AFS”), at fair value	$ 132,568	$ 146,385

SECURITIES AND OTHER INVESTME_5

SECURITIES AND OTHER INVESTMENTS - Gross Unrealized Losses and the Related fair Value of Securities Available for Sale (Details) $ in Thousands	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 497,072	$ 455,210
Less than 12 months, unrealized losses	35,593	5,216
12 months or more, fair value	378,520	7,845
12 months or more, unrealized losses	43,269	312
Total, fair value	875,592	463,055
Total, unrealized losses	$ 78,862	$ 5,528
Total, number of securities | security	1,296	315
Less than 12 months, fair value	$ 85,699	$ 606,169
Less than 12 months, unrealized losses	9,623	3,508
12 months or more, fair value	526,583	0
12 months or more, unrealized losses	46,199	0
Total, fair value	612,282	606,169
Total, unrealized losses	$ 55,822	$ 3,508
Total, number of securities | security	170	127
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	$ 85,699	$ 606,169
Less than 12 months, unrealized losses	9,623	3,508
12 months or more, fair value	526,583	0
12 months or more, unrealized losses	46,199	0
Total, fair value	55,822	3,508
Total, unrealized losses	$ 612,282	$ 606,169
Total, number of securities | security	170	127
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 497,072	$ 455,210
Less than 12 months, unrealized losses	35,593	5,216
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	378,520	7,845
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	43,269	312
Debt Securities, Available-for-sale, Unrealized Loss Position	875,592	463,055
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 78,862	$ 5,528
Total, number of securities | security	1,296	315
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 448	$ 190,272
Less than 12 months, unrealized losses	14	1,235
12 months or more, fair value	183,382	0
12 months or more, unrealized losses	8,272	0
Total, fair value	183,830	190,272
Total, unrealized losses	$ 8,286	$ 1,235
Total, number of securities | security	9	8
Less than 12 months, fair value	$ 0	$ 494,201
Less than 12 months, unrealized losses	0	2,738
12 months or more, fair value	461,926	0
12 months or more, unrealized losses	35,722	0
Total, fair value	461,926	494,201
Total, unrealized losses	$ 35,722	$ 2,738
Total, number of securities | security	6	6
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	$ 0	$ 494,201
Less than 12 months, unrealized losses	0	2,738
12 months or more, fair value	461,926	0
12 months or more, unrealized losses	35,722	0
Total, fair value	35,722	2,738
Total, unrealized losses	$ 461,926	$ 494,201
Total, number of securities | security	6	6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 448	$ 190,272
Less than 12 months, unrealized losses	14	1,235
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	183,382	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	8,272	0
Debt Securities, Available-for-sale, Unrealized Loss Position	183,830	190,272
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 8,286	$ 1,235
Total, number of securities | security	9	8
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 2,083	$ 160
Less than 12 months, unrealized losses	32	0
12 months or more, fair value	17	0
12 months or more, unrealized losses	1	0
Total, fair value	2,100	160
Total, unrealized losses	$ 33	$ 0
Total, number of securities | security	9	3
Less than 12 months, fair value		$ 11,737
Less than 12 months, unrealized losses		2
12 months or more, fair value		0
12 months or more, unrealized losses		0
Total, fair value		11,737
Total, unrealized losses		$ 2
Total, number of securities | security		3
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value		$ 11,737
Less than 12 months, unrealized losses		2
12 months or more, fair value		0
12 months or more, unrealized losses		0
Total, fair value		2
Total, unrealized losses		$ 11,737
Total, number of securities | security		3
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 2,083	$ 160
Less than 12 months, unrealized losses	32	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	17	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1	0
Debt Securities, Available-for-sale, Unrealized Loss Position	2,100	160
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 33	$ 0
Total, number of securities | security	9	3
State, county and municipals
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 277,546	$ 103,950
Less than 12 months, unrealized losses	18,041	2,119
12 months or more, fair value	86,569	1,777
12 months or more, unrealized losses	17,627	83
Total, fair value	364,115	105,727
Total, unrealized losses	$ 35,668	$ 2,202
Total, number of securities | security	812	132
Less than 12 months, fair value	$ 17,591	$ 30,898
Less than 12 months, unrealized losses	1,594	173
12 months or more, fair value	11,654	0
12 months or more, unrealized losses	1,755	0
Total, fair value	29,245	30,898
Total, unrealized losses	$ 3,349	$ 173
Total, number of securities | security	58	46
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	$ 17,591	$ 30,898
Less than 12 months, unrealized losses	1,594	173
12 months or more, fair value	11,654	0
12 months or more, unrealized losses	1,755	0
Total, fair value	3,349	173
Total, unrealized losses	$ 29,245	$ 30,898
Total, number of securities | security	58	46
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 277,546	$ 103,950
Less than 12 months, unrealized losses	18,041	2,119
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	86,569	1,777
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	17,627	83
Debt Securities, Available-for-sale, Unrealized Loss Position	364,115	105,727
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 35,668	$ 2,202
Total, number of securities | security	812	132
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 102,108	$ 137,561
Less than 12 months, unrealized losses	11,320	1,616
12 months or more, fair value	95,614	6,068
12 months or more, unrealized losses	15,408	229
Total, fair value	197,722	143,629
Total, unrealized losses	$ 26,728	$ 1,845
Total, number of securities | security	376	159
Less than 12 months, fair value	$ 68,108	$ 69,333
Less than 12 months, unrealized losses	8,029	595
12 months or more, fair value	53,003	0
12 months or more, unrealized losses	8,722	0
Total, fair value	121,111	69,333
Total, unrealized losses	$ 16,751	$ 595
Total, number of securities | security	106	72
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	$ 68,108	$ 69,333
Less than 12 months, unrealized losses	8,029	595
12 months or more, fair value	53,003	0
12 months or more, unrealized losses	8,722	0
Total, fair value	16,751	595
Total, unrealized losses	$ 121,111	$ 69,333
Total, number of securities | security	106	72
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 102,108	$ 137,561
Less than 12 months, unrealized losses	11,320	1,616
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	95,614	6,068
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	15,408	229
Debt Securities, Available-for-sale, Unrealized Loss Position	197,722	143,629
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 26,728	$ 1,845
Total, number of securities | security	376	159
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 114,887	$ 23,267
Less than 12 months, unrealized losses	6,186	246
12 months or more, fair value	12,938	0
12 months or more, unrealized losses	1,961	0
Total, fair value	127,825	23,267
Total, unrealized losses	$ 8,147	$ 246
Total, number of securities | security	90	13
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 114,887	$ 23,267
Less than 12 months, unrealized losses	6,186	246
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	12,938	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1,961	0
Debt Securities, Available-for-sale, Unrealized Loss Position	127,825	23,267
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 8,147	$ 246
Total, number of securities | security	90	13

SECURITIES AND OTHER INVESTME_6

SECURITIES AND OTHER INVESTMENTS - Amortized Cost and Fair Values of Securities Available for Sale at by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
Due in less than one year	$ 222,169
Due in one year through five years	172,291
Due after five years through ten years	229,760
Due after ten years	144,474
Allocated and single maturity date	768,694
Amortized Cost	996,344	$ 917,412
Fair Value
Due in less than one year	218,033
Due in one year through five years	163,466
Due after five years through ten years	203,039
Due after ten years	132,148
Allocated and single maturity date	716,686
Fair Value	917,618	921,661
Amortized Cost
Due in less than one year	1,774
Due in one year through five years	513,181
Due after five years through ten years	22,600
Due after ten years	3,711
Allocated and single maturity date	541,266
Total	679,128
Fair Value
Due in less than one year	1,748
Due in one year through five years	476,365
Due after five years through ten years	20,485
Due after ten years	3,643
Allocated and single maturity date	502,241
Fair Value	623,352	648,394
Mortgage-backed securities
Amortized Cost
Mortgage-backed securities	227,650
Amortized Cost	227,650	270,017
Fair Value
Mortgage-backed securities	200,932
Fair Value	200,932	271,262
Amortized Cost
Mortgage-backed securities	137,862
Fair Value
Mortgage-backed securities	121,111
Fair Value	$ 121,111	$ 99,611

SECURITIES AND OTHER INVESTME_7

SECURITIES AND OTHER INVESTMENTS - Proceeds from Sales of Securities AFS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Gross gains	$ 28	$ 5	$ 395
Gross losses	(272)	(288)	0
Gains (losses) on sales of securities AFS, net	(244)	(283)	395
Proceeds from sales of securities AFS	28,438	42,973	19,045
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales of securities AFS	28,438	$ 42,973	$ 19,045
Charter Bankshares, Inc.
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of securities AFS	21,000
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales of securities AFS	$ 21,000

SECURITIES AND OTHER INVESTME_8

SECURITIES AND OTHER INVESTMENTS - Other Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Federal Reserve Bank stock	$ 32,219	$ 20,973
FHLB stock	18,625	10,545
Equity securities with readily determinable fair values	4,376	5,660
Other investments	10,066	6,830
Total other investments	$ 65,286	$ 44,008

LOANS, ALLOWANCE FOR CREDIT L_2

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Summary of Loan Composition (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 6,180,499	$ 4,621,836
Less ACL-Loans	61,829	49,672	$ 32,173	$ 13,972
Loans, net	$ 6,118,670	$ 4,572,164
ACL-Loans to loans (in percent)	1%	1.07%
% of Total	100%	100%
Retail & other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 55,266	$ 50,807
Less ACL-Loans	$ 1,029	$ 932	557
% of Total	1%	1%
Retail-based loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,363,925	$ 966,567
% of Total	22%	20%
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 3,348,025	$ 2,624,173
% of Total	54%	57%
Commercial | Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,304,819	$ 1,042,256
Less ACL-Loans	$ 16,350	$ 12,613	11,644
% of Total	21%	23%
Commercial | Owner-occupied commercial real estate (“CRE”)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 954,599	$ 787,189
Less ACL-Loans	$ 9,138	$ 7,222	5,872
% of Total	15%	17%
Commercial | Agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,088,607	$ 794,728
Less ACL-Loans	$ 9,762	$ 9,547	1,395
% of Total	18%	17%
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,468,549	$ 1,031,096
% of Total	24%	23%
Commercial real estate | CRE investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,149,949	$ 818,061
Less ACL-Loans	$ 12,744	$ 8,462	5,441
% of Total	19%	18%
Commercial real estate | Construction & land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 318,600	$ 213,035
Less ACL-Loans	$ 2,572	$ 1,812	984
% of Total	5%	5%
Commercial-based loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 4,816,574	$ 3,655,269
% of Total	78%	80%
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,308,659	$ 915,760
% of Total	21%	19%
Residential | Residential first mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,016,935	$ 713,983
Less ACL-Loans	$ 6,976	$ 6,844	4,773
% of Total	16%	15%
Residential | Residential junior mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 177,332	$ 131,424
Less ACL-Loans	$ 1,846	$ 1,340	1,086
% of Total	3%	3%
Residential | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 114,392	$ 70,353
Less ACL-Loans	$ 1,412	$ 900	$ 421
% of Total	2%	1%

LOANS, ALLOWANCE FOR CREDIT L_3

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY- Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 6,180,499	$ 4,621,836
Accrued interest on loans	$ 15,000	$ 11,000
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Interest Receivable and Other Assets	Interest Receivable and Other Assets
ACL-Unfunded Commitments	$ 3,000	$ 2,400
Number of loans classified as troubled debt with subsequent default | loan	0
Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 3,348,025	2,624,173
Commercial | PPP loans | Grades 1-4
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 200	$ 25,000

LOANS, ALLOWANCE FOR CREDIT L_4

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Summary of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 49,672	$ 32,173	$ 13,972
ACL on PCD loans acquired	1,937	5,159	0
Provision for credit losses	10,950	12,500	10,300
Charge-offs	(1,033)	(513)	(1,689)
Recoveries	303	353	305
Net (charge-offs) recoveries	(730)	(160)	(1,384)
Ending balance	61,829	49,672	32,173
Adoption of CECL
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	0	0	8,488
Ending balance		0	0
Initial PCD ACL
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	0	0	797
Ending balance		0	0
Total impact for adoption of CECL
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 0	0	9,285
Ending balance		$ 0	$ 0

LOANS, ALLOWANCE FOR CREDIT L_5

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Summary of Changes in ACL-Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 49,672	$ 32,173	$ 13,972
ACL on PCD loans acquired	1,937	5,159	0
Provision for credit losses	10,950	12,500	10,300
Charge-offs	(1,033)	(513)	(1,689)
Recoveries	303	353	305
Net (charge-offs) recoveries	(730)	(160)	(1,384)
Ending balance	$ 61,829	$ 49,672	32,173
As % of ACL-Loans	100%	100%
Retail & other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 932	$ 557
ACL on PCD loans acquired	0	3
Provision for credit losses	299	443
Charge-offs	(223)	(106)
Recoveries	21	35
Net (charge-offs) recoveries	(202)	(71)
Ending balance	$ 1,029	$ 932	557
As % of ACL-Loans	2%	2%
Commercial | Commercial & industrial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 12,613	$ 11,644
ACL on PCD loans acquired	1,408	723
Provision for credit losses	2,415	196
Charge-offs	(190)	(242)
Recoveries	104	292
Net (charge-offs) recoveries	(86)	50
Ending balance	$ 16,350	$ 12,613	11,644
As % of ACL-Loans	26%	25%
Commercial | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 7,222	$ 5,872
ACL on PCD loans acquired	384	1,045
Provision for credit losses	2,087	305
Charge-offs	(555)	0
Recoveries	0	0
Net (charge-offs) recoveries	(555)	0
Ending balance	$ 9,138	$ 7,222	5,872
As % of ACL-Loans	15%	14%
Commercial | Agricultural
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 9,547	$ 1,395
ACL on PCD loans acquired	0	2,585
Provision for credit losses	215	5,615
Charge-offs	0	(48)
Recoveries	0	0
Net (charge-offs) recoveries	0	(48)
Ending balance	$ 9,762	$ 9,547	1,395
As % of ACL-Loans	16%	19%
Commercial real estate | CRE investment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 8,462	$ 5,441
ACL on PCD loans acquired	38	415
Provision for credit losses	4,075	2,608
Charge-offs	0	(4)
Recoveries	169	2
Net (charge-offs) recoveries	169	(2)
Ending balance	$ 12,744	$ 8,462	5,441
As % of ACL-Loans	21%	17%
Commercial real estate | Construction & land development
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,812	$ 984
ACL on PCD loans acquired	2	103
Provision for credit losses	758	725
Charge-offs	0	0
Recoveries	0	0
Net (charge-offs) recoveries	0	0
Ending balance	$ 2,572	$ 1,812	984
As % of ACL-Loans	4%	4%
Residential | Residential first mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6,844	$ 4,773
ACL on PCD loans acquired	93	272
Provision for credit losses	96	1,892
Charge-offs	(65)	(113)
Recoveries	8	20
Net (charge-offs) recoveries	(57)	(93)
Ending balance	$ 6,976	$ 6,844	4,773
As % of ACL-Loans	11%	14%
Residential | Residential junior mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,340	$ 1,086
ACL on PCD loans acquired	12	13
Provision for credit losses	493	237
Charge-offs	0	0
Recoveries	1	4
Net (charge-offs) recoveries	1	4
Ending balance	$ 1,846	$ 1,340	1,086
As % of ACL-Loans	3%	3%
Residential | Residential construction
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 900	$ 421
ACL on PCD loans acquired	0	0
Provision for credit losses	512	479
Charge-offs	0	0
Recoveries	0	0
Net (charge-offs) recoveries	0	0
Ending balance	$ 1,412	$ 900	$ 421
As % of ACL-Loans	2%	2%

LOANS, ALLOWANCE FOR CREDIT L_6

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Provision for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Loans	$ 10,950	$ 12,500	$ 10,300
Unfunded Commitments	550	2,400	0
Investment securities	0	0	0
Total	$ 11,500	$ 14,900	$ 10,300

LOANS, ALLOWANCE FOR CREDIT L_7

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Collateral Dependent Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 32,072	$ 38,499
Without an Allowance	22,724	31,279
With an Allowance	9,348	7,220
Allowance Allocation	1,121	2,269
Retail & other
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Without an Allowance	0	0
With an Allowance	0	0
Allowance Allocation	0	0
Commercial | Commercial & industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,475	2,296
Without an Allowance	1,927	1,842
With an Allowance	1,548	454
Allowance Allocation	595	258
Commercial | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,907	3,537
Without an Allowance	4,699	1,315
With an Allowance	208	2,222
Allowance Allocation	53	552
Commercial | Agricultural
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	20,216	28,155
Without an Allowance	14,358	25,310
With an Allowance	5,858	2,845
Allowance Allocation	261	841
Commercial real estate | CRE investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	2,713	3,000
Without an Allowance	979	1,684
With an Allowance	1,734	1,316
Allowance Allocation	212	407
Commercial real estate | Construction & land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	670	1,038
Without an Allowance	670	655
With an Allowance	0	383
Allowance Allocation	0	211
Residential | Residential first mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	91	473
Without an Allowance	91	473
With an Allowance	0	0
Allowance Allocation	0	0
Residential | Residential junior mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Without an Allowance	0	0
With an Allowance	0	0
Allowance Allocation	0	0
Residential | Residential construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Without an Allowance	0	0
With an Allowance	0	0
Allowance Allocation	0	0
Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	22,139	27,685
Real Estate | Retail & other
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Real Estate | Commercial | Commercial & industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Real Estate | Commercial | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,907	3,537
Real Estate | Commercial | Agricultural
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	13,758	19,637
Real Estate | Commercial real estate | CRE investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	2,713	3,000
Real Estate | Commercial real estate | Construction & land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	670	1,038
Real Estate | Residential | Residential first mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	91	473
Real Estate | Residential | Residential junior mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Real Estate | Residential | Residential construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	9,933	10,814
Other Business Assets | Retail & other
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Other Business Assets | Commercial | Commercial & industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,475	2,296
Other Business Assets | Commercial | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Other Business Assets | Commercial | Agricultural
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	6,458	8,518
Other Business Assets | Commercial real estate | CRE investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Other Business Assets | Commercial real estate | Construction & land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Other Business Assets | Residential | Residential first mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Other Business Assets | Residential | Residential junior mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Other Business Assets | Residential | Residential construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 0	$ 0

LOANS, ALLOWANCE FOR CREDIT L_8

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Summary of Loans by Past due Status (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 6,180,499	$ 4,621,836
Percent of total loans	100%	100%
30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 5,188	$ 3,292
Percent past due	0.10%	0.10%
90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 38,080	$ 44,154
Percent past due	0.60%	0.90%
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 6,137,231	$ 4,574,390
Percent of current loans	99.30%	99%
Retail & other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 55,266	$ 50,807
Retail & other | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	261	115
Retail & other | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	82	94
Retail & other | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	54,923	50,598
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	3,348,025	2,624,173
Commercial | Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,304,819	1,042,256
Commercial | Commercial & industrial | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	210	94
Commercial | Commercial & industrial | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	3,328	1,908
Commercial | Commercial & industrial | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,301,281	1,040,254
Commercial | Owner-occupied commercial real estate (“CRE”)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	954,599	787,189
Commercial | Owner-occupied commercial real estate (“CRE”) | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	833	0
Commercial | Owner-occupied commercial real estate (“CRE”) | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	5,647	4,220
Commercial | Owner-occupied commercial real estate (“CRE”) | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	948,119	782,969
Commercial | Agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,088,607	794,728
Commercial | Agricultural | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	20	108
Commercial | Agricultural | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	20,416	28,367
Commercial | Agricultural | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,068,171	766,253
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,468,549	1,031,096
Commercial real estate | CRE investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,149,949	818,061
Commercial real estate | CRE investment | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	0	114
Commercial real estate | CRE investment | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	3,832	4,119
Commercial real estate | CRE investment | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,146,117	813,828
Commercial real estate | Construction & land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	318,600	213,035
Commercial real estate | Construction & land development | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	0	0
Commercial real estate | Construction & land development | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	771	1,071
Commercial real estate | Construction & land development | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	317,829	211,964
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,308,659	915,760
Residential | Residential first mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,016,935	713,983
Residential | Residential first mortgage | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	3,628	2,592
Residential | Residential first mortgage | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	3,780	4,132
Residential | Residential first mortgage | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,009,527	707,259
Residential | Residential junior mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	177,332	131,424
Residential | Residential junior mortgage | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	236	23
Residential | Residential junior mortgage | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	224	243
Residential | Residential junior mortgage | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	176,872	131,158
Residential | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	114,392	70,353
Residential | Residential construction | 30-89 Days Past Due (accruing)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	0	246
Residential | Residential construction | 90 Days & Over or nonaccrual
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	0	0
Residential | Residential construction | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 114,392	$ 70,107

LOANS, ALLOWANCE FOR CREDIT L_9

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Nonaccrual Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 38,080	$ 44,154
Percent of total loans	0.60%	0.90%
% to Total	100%	100%
Retail & other
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 82	$ 94
% to Total	0%	0%
Commercial | Commercial & industrial
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 3,328	$ 1,908
% to Total	9%	4%
Commercial | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 5,647	$ 4,220
% to Total	15%	10%
Commercial | Agricultural
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 20,416	$ 28,367
% to Total	53%	64%
Commercial real estate | CRE investment
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 3,832	$ 4,119
% to Total	10%	9%
Commercial real estate | Construction & land development
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 771	$ 1,071
% to Total	2%	3%
Residential | Residential first mortgage
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 3,780	$ 4,132
% to Total	10%	9%
Residential | Residential junior mortgage
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 224	$ 243
% to Total	1%	1%
Residential | Residential construction
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 0	$ 0
% to Total	0%	0%

LOANS, ALLOWANCE FOR CREDIT _10

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Summary of Loans by Loan Risk Categories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	$ 1,528,490	$ 1,211,408
2021/2020	1,271,582	733,060
2020/2019	689,302	592,366
2019/2018	437,225	306,359
2018/2017	322,275	283,629
Prior	1,061,537	771,550
Revolving	864,323	722,034
Revolving to Term	5,765	1,430
Loans	6,180,499	4,621,836
Retail & other
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	12,318	13,676
2021/2020	9,003	6,910
2020/2019	4,243	5,828
2019/2018	3,190	2,072
2018/2017	1,065	1,882
Prior	24,955	20,164
Revolving	492	275
Revolving to Term	0	0
Loans	55,266	50,807
Retail & other | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	12,318	13,676
2021/2020	8,957	6,886
2020/2019	4,221	5,826
2019/2018	3,188	2,053
2018/2017	1,035	1,882
Prior	24,950	20,102
Revolving	492	275
Revolving to Term	0	0
Loans	55,161	50,700
Retail & other | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	23	0
2020/2019	0	0
2019/2018	0	0
2018/2017	0	0
Prior	0	0
Revolving	0	0
Revolving to Term	0	0
Loans	23	0
Retail & other | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	0
2019/2018	0	0
2018/2017	0	0
Prior	0	0
Revolving	0	0
Revolving to Term	0	0
Loans	0	0
Retail & other | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	23	24
2020/2019	22	2
2019/2018	2	19
2018/2017	30	0
Prior	5	62
Revolving	0	0
Revolving to Term	0	0
Loans	82	107
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	3,348,025	2,624,173
Commercial | Commercial & industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	329,347	284,652
2021/2020	234,543	148,530
2020/2019	116,025	104,779
2019/2018	73,915	76,311
2018/2017	55,352	56,460
Prior	94,874	74,178
Revolving	400,763	297,346
Revolving to Term	0	0
Loans	1,304,819	1,042,256
Commercial | Commercial & industrial | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	317,394	282,369
2021/2020	226,065	146,131
2020/2019	101,374	99,702
2019/2018	68,884	69,478
2018/2017	50,189	50,557
Prior	77,589	71,247
Revolving	360,978	288,115
Revolving to Term	0	0
Loans	1,202,473	1,007,599
Commercial | Commercial & industrial | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	9,938	1,685
2021/2020	5,902	1,905
2020/2019	10,811	4,369
2019/2018	1,530	5,809
2018/2017	3,986	4,860
Prior	4,562	2,097
Revolving	20,617	8,408
Revolving to Term	0	0
Loans	57,346	29,133
Commercial | Commercial & industrial | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	1,459	598
2021/2020	2,283	54
2020/2019	629	16
2019/2018	511	687
2018/2017	402	67
Prior	11,653	91
Revolving	14,047	391
Revolving to Term	0	0
Loans	30,984	1,904
Commercial | Commercial & industrial | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	556	0
2021/2020	293	440
2020/2019	3,211	692
2019/2018	2,990	337
2018/2017	775	976
Prior	1,070	743
Revolving	5,121	432
Revolving to Term	0	0
Loans	14,016	3,620
Commercial | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	156,859	162,331
2021/2020	194,211	100,443
2020/2019	116,550	115,311
2019/2018	105,746	94,671
2018/2017	96,270	81,644
Prior	277,881	224,198
Revolving	7,082	8,591
Revolving to Term	0	0
Loans	954,599	787,189
Commercial | Owner-occupied commercial real estate (“CRE”) | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	151,391	154,578
2021/2020	190,313	94,300
2020/2019	105,156	105,226
2019/2018	100,606	92,128
2018/2017	91,479	75,583
Prior	252,574	202,816
Revolving	6,734	6,945
Revolving to Term	0	0
Loans	898,253	731,576
Commercial | Owner-occupied commercial real estate (“CRE”) | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	5,241	7,753
2021/2020	3,192	3,019
2020/2019	4,287	6,529
2019/2018	2,163	2,543
2018/2017	4,791	2,515
Prior	14,632	13,905
Revolving	348	656
Revolving to Term	0	0
Loans	34,654	36,920
Commercial | Owner-occupied commercial real estate (“CRE”) | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	763	1,642
2019/2018	2,361	0
2018/2017	0	20
Prior	877	805
Revolving	0	0
Revolving to Term	0	0
Loans	4,001	2,467
Commercial | Owner-occupied commercial real estate (“CRE”) | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	227	0
2021/2020	706	3,124
2020/2019	6,344	1,914
2019/2018	616	0
2018/2017	0	3,526
Prior	9,798	6,672
Revolving	0	990
Revolving to Term	0	0
Loans	17,691	16,226
Commercial | Agricultural
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	295,783	146,522
2021/2020	167,539	96,036
2020/2019	88,855	34,333
2019/2018	29,465	28,003
2018/2017	24,815	47,511
Prior	199,982	167,198
Revolving	282,168	275,125
Revolving to Term	0	0
Loans	1,088,607	794,728
Commercial | Agricultural | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	275,208	128,404
2021/2020	145,272	87,844
2020/2019	85,413	28,416
2019/2018	25,463	22,887
2018/2017	19,687	36,298
Prior	130,849	86,104
Revolving	249,033	235,743
Revolving to Term	0	0
Loans	930,925	625,696
Commercial | Agricultural | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	13,295	14,796
2021/2020	18,178	4,183
2020/2019	2,694	2,391
2019/2018	1,992	915
2018/2017	517	3,912
Prior	43,927	48,373
Revolving	21,199	26,778
Revolving to Term	0	0
Loans	101,802	101,348
Commercial | Agricultural | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	115	38
2021/2020	1,457	38
2020/2019	28	36
2019/2018	33	0
2018/2017	0	86
Prior	5,258	1,049
Revolving	429	85
Revolving to Term	0	0
Loans	7,320	1,332
Commercial | Agricultural | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	7,165	3,284
2021/2020	2,632	3,971
2020/2019	720	3,490
2019/2018	1,977	4,201
2018/2017	4,611	7,215
Prior	19,948	31,672
Revolving	11,507	12,519
Revolving to Term	0	0
Loans	48,560	66,352
Commercial | PPP loans | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	200	25,000
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,468,549	1,031,096
Commercial real estate | CRE investment
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	206,497	203,355
2021/2020	230,901	142,128
2020/2019	196,226	143,259
2019/2018	140,036	60,234
2018/2017	85,376	73,104
Prior	279,115	184,461
Revolving	11,798	11,520
Revolving to Term	0	0
Loans	1,149,949	818,061
Commercial real estate | CRE investment | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	205,930	192,274
2021/2020	229,252	139,127
2020/2019	192,527	136,306
2019/2018	134,301	56,148
2018/2017	79,649	65,026
Prior	248,595	162,991
Revolving	11,383	11,289
Revolving to Term	0	0
Loans	1,101,637	763,161
Commercial real estate | CRE investment | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	567	11,081
2021/2020	1,649	3,001
2020/2019	3,578	6,497
2019/2018	4,266	3,945
2018/2017	3,086	6,726
Prior	24,897	17,527
Revolving	0	0
Revolving to Term	0	0
Loans	38,043	48,777
Commercial real estate | CRE investment | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	0
2019/2018	1,170	0
2018/2017	2,396	0
Prior	2,483	0
Revolving	206	0
Revolving to Term	0	0
Loans	6,255	0
Commercial real estate | CRE investment | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	121	456
2019/2018	299	141
2018/2017	245	1,352
Prior	3,140	3,943
Revolving	209	231
Revolving to Term	0	0
Loans	4,014	6,123
Commercial real estate | Construction & land development
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	104,874	82,531
2021/2020	140,727	72,415
2020/2019	12,188	13,068
2019/2018	9,761	20,430
2018/2017	23,811	1,201
Prior	14,004	12,447
Revolving	13,235	10,943
Revolving to Term	0	0
Loans	318,600	213,035
Commercial real estate | Construction & land development | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	104,804	81,891
2021/2020	140,727	72,415
2020/2019	12,188	12,547
2019/2018	9,747	19,511
2018/2017	23,811	1,184
Prior	13,138	11,274
Revolving	13,235	10,943
Revolving to Term	0	0
Loans	317,650	209,765
Commercial real estate | Construction & land development | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	37	640
2021/2020	0	0
2020/2019	0	521
2019/2018	14	919
2018/2017	0	0
Prior	95	119
Revolving	0	0
Revolving to Term	0	0
Loans	146	2,199
Commercial real estate | Construction & land development | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	0
2019/2018	0	0
2018/2017	0	0
Prior	0	0
Revolving	0	0
Revolving to Term	0	0
Loans	0	0
Commercial real estate | Construction & land development | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	33	0
2021/2020	0	0
2020/2019	0	0
2019/2018	0	0
2018/2017	0	17
Prior	771	1,054
Revolving	0	0
Revolving to Term	0	0
Loans	804	1,071
Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,308,659	915,760
Residential | Residential first mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	320,276	256,795
2021/2020	273,098	153,461
2020/2019	149,042	172,359
2019/2018	71,838	22,793
2018/2017	33,677	20,220
Prior	166,921	86,511
Revolving	2,080	1,840
Revolving to Term	3	4
Loans	1,016,935	713,983
Residential | Residential first mortgage | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	318,628	256,082
2021/2020	272,011	152,932
2020/2019	147,857	168,705
2019/2018	68,975	22,568
2018/2017	31,208	20,147
Prior	162,153	82,479
Revolving	2,080	1,840
Revolving to Term	3	4
Loans	1,002,915	704,757
Residential | Residential first mortgage | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	1,494	713
2021/2020	758	529
2020/2019	997	3,094
2019/2018	1,803	0
2018/2017	2,272	0
Prior	465	1,508
Revolving	0	0
Revolving to Term	0	0
Loans	7,789	5,844
Residential | Residential first mortgage | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	0
2019/2018	711	0
2018/2017	0	0
Prior	0	0
Revolving	0	0
Revolving to Term	0	0
Loans	711	0
Residential | Residential first mortgage | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	154	0
2021/2020	329	0
2020/2019	188	560
2019/2018	349	225
2018/2017	197	73
Prior	4,303	2,524
Revolving	0	0
Revolving to Term	0	0
Loans	5,520	3,382
Residential | Residential junior mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	10,119	3,194
2021/2020	4,786	3,139
2020/2019	5,207	3,222
2019/2018	3,151	1,501
2018/2017	1,573	535
Prior	3,576	2,013
Revolving	143,158	116,394
Revolving to Term	5,762	1,426
Loans	177,332	131,424
Residential | Residential junior mortgage | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	10,119	3,194
2021/2020	4,580	3,139
2020/2019	5,207	3,021
2019/2018	3,151	1,501
2018/2017	1,573	512
Prior	3,409	1,969
Revolving	142,784	115,817
Revolving to Term	5,762	1,426
Loans	176,585	130,579
Residential | Residential junior mortgage | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	29
2019/2018	0	0
2018/2017	0	0
Prior	143	0
Revolving	165	439
Revolving to Term	0	0
Loans	308	468
Residential | Residential junior mortgage | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	0
2019/2018	0	0
2018/2017	0	0
Prior	0	0
Revolving	0	0
Revolving to Term	0	0
Loans	0	0
Residential | Residential junior mortgage | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	206	0
2020/2019	0	172
2019/2018	0	0
2018/2017	0	23
Prior	24	44
Revolving	209	138
Revolving to Term	0	0
Loans	439	377
Residential | Residential construction
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	92,417	58,352
2021/2020	16,774	9,998
2020/2019	966	207
2019/2018	123	344
2018/2017	336	1,072
Prior	229	380
Revolving	3,547	0
Revolving to Term	0	0
Loans	114,392	70,353
Residential | Residential construction | Grades 1-4
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	92,417	58,352
2021/2020	16,774	9,998
2020/2019	966	155
2019/2018	123	344
2018/2017	336	1,072
Prior	229	380
Revolving	3,547	0
Revolving to Term	0	0
Loans	114,392	70,301
Residential | Residential construction | Grade 5
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	52
2019/2018	0	0
2018/2017	0	0
Prior	0	0
Revolving	0	0
Revolving to Term	0	0
Loans	0	52
Residential | Residential construction | Grade 6
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	0
2019/2018	0	0
2018/2017	0	0
Prior	0	0
Revolving	0	0
Revolving to Term	0	0
Loans	0	0
Residential | Residential construction | Grade 7
Financing Receivable, Credit Quality Indicator [Line Items]
2022/2021	0	0
2021/2020	0	0
2020/2019	0	0
2019/2018	0	0
2018/2017	0	0
Prior	0	0
Revolving	0	0
Revolving to Term	0	0
Loans	$ 0	$ 0

LOANS, ALLOWANCE FOR CREDIT _11

LOANS, ALLOWANCE FOR CREDIT LOSSES - LOANS, AND CREDIT QUALITY - Trouble Debt Restructuring (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 18,055	$ 25,686
Number of Loans | loan	39	44
Pre-Modification Balance	$ 24,071	$ 26,890
Current Balance	18,055	25,686
Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	0	5,443
Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	18,055	20,243
Commercial | Commercial & industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 261	$ 197
Number of Loans | loan	3	2
Pre-Modification Balance	$ 349	$ 200
Current Balance	261	197
Commercial | Commercial & industrial | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	0	0
Commercial | Commercial & industrial | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	261	197
Commercial | Owner-occupied commercial real estate (“CRE”)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 2,377	$ 6,354
Number of Loans | loan	4	6
Pre-Modification Balance	$ 5,471	$ 6,913
Current Balance	2,377	6,354
Commercial | Owner-occupied commercial real estate (“CRE”) | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	0	3,466
Commercial | Owner-occupied commercial real estate (“CRE”) | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	2,377	2,888
Commercial | Agricultural
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 15,037	$ 16,835
Number of Loans | loan	29	31
Pre-Modification Balance	$ 17,405	$ 17,228
Current Balance	15,037	16,835
Commercial | Agricultural | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	0	0
Commercial | Agricultural | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	15,037	16,835
Commercial real estate | CRE investment
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 293	$ 918
Number of Loans | loan	1	1
Pre-Modification Balance	$ 296	$ 919
Current Balance	293	918
Commercial real estate | CRE investment | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	0	918
Commercial real estate | CRE investment | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	293	0
Commercial real estate | Construction & land development
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 75	$ 308
Number of Loans | loan	1	1
Pre-Modification Balance	$ 533	$ 533
Current Balance	75	308
Commercial real estate | Construction & land development | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	0	0
Commercial real estate | Construction & land development | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	75	308
Residential | Residential first mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 12	$ 928
Number of Loans | loan	1	2
Pre-Modification Balance	$ 17	$ 931
Current Balance	12	928
Residential | Residential first mortgage | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	0	913
Residential | Residential first mortgage | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	12	15
Residential | Residential junior mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 0	$ 146
Number of Loans | loan	0	1
Pre-Modification Balance	$ 0	$ 166
Current Balance	0	146
Residential | Residential junior mortgage | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	0	146
Residential | Residential junior mortgage | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings	$ 0	$ 0

PREMISES AND EQUIPMENT - Summar

PREMISES AND EQUIPMENT - Summary of Premises and Equipment, Less Accumulated Depreciation (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 152,628	$ 131,711
Less accumulated depreciation and amortization	43,672	37,145
Premises and equipment, net	108,956	94,566
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	14,841	10,806
Land improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	5,361	3,896
Building and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	89,630	79,754
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	7,079	6,514
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 35,717	$ 30,741

PREMISES AND EQUIPMENT - Narrat

PREMISES AND EQUIPMENT - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) branch	Dec. 31, 2020 USD ($) branch
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 7.6	$ 5	$ 4.4
Rent expense	$ 2.2	$ 1.3	$ 1
Number of branches closed | branch		15	8
Accelerated depreciation		$ (0.9)	$ (0.5)
Number of branches closed, owned locations | branch			5
Number of branches closed, leased locations | branch			3
Lease termination charge			$ 1
Write-down upon transfer of the owned locations to OREO			$ 0.5
Mackinac Financial Corporation
Property, Plant and Equipment [Line Items]
Number of branches closed | branch		10
Minimum
Property, Plant and Equipment [Line Items]
Renewal term on operating leases	5 years
Maximum
Property, Plant and Equipment [Line Items]
Renewal term on operating leases	10 years
Land and Building | Minimum
Property, Plant and Equipment [Line Items]
Remaining lease term on operating leases	1 year
Land and Building | Maximum
Property, Plant and Equipment [Line Items]
Remaining lease term on operating leases	8 years

PREMISES AND EQUIPMENT - Other

PREMISES AND EQUIPMENT - Other Information Related To Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Operating lease cost	$ 1,778	$ 1,018	$ 834
Variable lease cost	448	234	169
Net lease cost	$ 2,226	$ 1,252	$ 1,003
Weighted average remaining lease term (years)	5 years 4 months 24 days	6 years 3 months 18 days	5 years 1 month 6 days
Weighted average discount rate	2.30%	1.50%	2%

PREMISES AND EQUIPMENT - Minimu

PREMISES AND EQUIPMENT - Minimum Annual Rentals Under these Noncancelable Agreements with Remaining Terms in Excess of One Year (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Property, Plant and Equipment [Abstract]
2023	$ 2,437
2024	2,200
2025	1,876
2026	1,688
2027	1,519
Thereafter	1,417
Total future minimum lease payments	11,137
Less: amount representing interest	(252)
Present value of net future minimum lease payments	$ 10,885

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS - Summary of Goodwill and Other Intangibles (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 367,387	$ 317,189	$ 163,151
Other intangibles	35,051	22,303
Goodwill and other intangibles, net	402,438	339,492
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Other intangibles	32,701	19,445
Customer list intangibles
Finite-Lived Intangible Assets [Line Items]
Other intangibles	$ 2,350	$ 2,858

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill:
Goodwill at beginning of year	$ 317,189	$ 163,151
Acquisitions	49,970	154,038
Purchase accounting adjustment	228	0
Goodwill at end of year	$ 367,387	$ 317,189

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS - Other Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Net book value	$ 35,051	$ 22,303
Amortization during the period	6,616	3,494	$ 3,567
Core deposit intangibles:
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	60,724	41,360
Accumulated Amortization	(28,023)	(21,915)
Net book value	32,701	19,445
Additions during the period	19,364	13,595
Amortization during the period	6,108	2,987
Customer list intangibles
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,523	5,523
Accumulated Amortization	(3,173)	(2,665)
Net book value	2,350	2,858
Amortization during the period	$ 508	$ 507

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS - Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
MSR asset
Asset
Asset at beginning of year	$ 13,636	$ 10,230
Capitalized MSR	2,327	4,329
Asset acquired	0	1,322
Amortization during the period	(2,883)	(2,245)
Asset at end of year	13,080	13,636
Valuation allowance:
Valuation allowance at beginning of year	(1,200)	(1,000)
Additions	0	(500)
Reversals	700	300
Valuation allowance at end of year	(500)	(1,200)
MSR asset, net	12,580	12,436
Fair value of MSR asset at end of period	17,215	15,599
Residential mortgage loans serviced for others	$ 1,637,109	$ 1,583,577
Net book value of MSR asset to loans serviced for others	0.77%	0.79%
Agricultural loans serviced for others	$ 1,637,109	$ 1,583,577
LSR asset
Asset
Asset at beginning of year	20,055	0
Asset acquired	0	20,055
Amortization during the period	(9,016)	0
Asset at end of year	11,039	20,055
Valuation allowance:
Residential mortgage loans serviced for others	538,392	793,655
Agricultural loans serviced for others	$ 538,392	$ 793,655

GOODWILL AND OTHER INTANGIBLE_7

GOODWILL AND OTHER INTANGIBLES AND SERVICING RIGHTS - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Core Deposit and Customer List Intangibles
Net book value	$ 35,051	$ 22,303
Core deposit intangibles
Core Deposit and Customer List Intangibles
2023	7,589
2024	6,298
2025	5,161
2026	3,983
2027	3,218
Thereafter	6,452
Net book value	32,701	19,445
Customer list intangibles
Core Deposit and Customer List Intangibles
2023	483
2024	449
2025	449
2026	249
2027	166
Thereafter	554
Net book value	2,350	$ 2,858
MSR asset
Core Deposit and Customer List Intangibles
2023	2,402
2024	2,657
2025	1,913
2026	1,414
2027	1,413
Thereafter	3,281
Net book value	13,080
LSR asset
Core Deposit and Customer List Intangibles
2023	2,208
2024	1,962
2025	1,717
2026	1,472
2027	1,227
Thereafter	2,453
Net book value	$ 11,039

OTHER REAL ESTATE OWNED - Summa

OTHER REAL ESTATE OWNED - Summary of Other Real Estate Owned Net of Valuation Allowances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Real Estate [Roll Forward]
Balance at beginning of period	$ 11,955	$ 3,608
Transfer in loans at net realizable value	183	334
Transfer in former bank branch properties at net realizable value	25	7,843
Sales proceeds	(13,150)	(2,743)
Net gain from sales	3,206	597	$ 157
Write-downs	(244)	(28)
Acquired balance, net	0	2,344
Balance at end of period	$ 1,975	$ 11,955	$ 3,608

DEPOSITS - Deposit Composition

DEPOSITS - Deposit Composition (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amount
Noninterest-bearing demand deposits	$ 2,361,816	$ 1,975,705
Interest-bearing deposits	1,279,850	1,272,858
Money market	1,707,619	1,561,966
Savings	931,417	803,197
Time	898,219	852,190
Total deposits	$ 7,178,921	$ 6,465,916
% of Total
Noninterest-bearing demand	33%	31%
Interest-bearing demand	18%	20%
Money market	24%	24%
Savings	13%	12%
Time	12%	13%
Total deposits	100%	100%

DEPOSITS - Maturities of Time D

DEPOSITS - Maturities of Time Deposits (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Deposits [Abstract]
2023	$ 464,568
2024	288,059
2025	112,284
2026	20,321
2027	12,217
Thereafter	770
Total time deposits	$ 898,219

DEPOSITS - Narrative (Details)

DEPOSITS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deposits [Abstract]
Aggregate amount of time deposits with minimum denomination	$ 77	$ 113
Brokered deposits	$ 592	$ 444

SHORT AND LONG-TERM BORROWING_2

SHORT AND LONG-TERM BORROWINGS - Narrative (Details)	1 Months Ended	24 Months Ended	48 Months Ended	60 Months Ended
	Dec. 31, 2021 USD ($) note	Dec. 31, 2028	Dec. 31, 2030	Jul. 15, 2031	Dec. 31, 2022 USD ($)	Jul. 31, 2021 USD ($)
Debt Type [Line Items]
Short-term borrowings	$ 0				$ 317,000,000
Trust preferred securities qualify as Tier 1 capital	37,000,000				38,000,000
FHLB advances
Debt Type [Line Items]
Short-term borrowings					317,000,000
US Treasury Notes
Debt Type [Line Items]
FHLB advances collateralized pledged	$ 0				500,000,000
Maturing January 2023 | FHLB advances
Debt Type [Line Items]
Short-term borrowings					$ 117,000,000
Weighted average interest rate on short-term debt					4.29%
Maturing September 2023 | FHLB advances
Debt Type [Line Items]
Short-term borrowings					$ 200,000,000
Weighted average interest rate on short-term debt					4.30%
FHLB advances
Debt Type [Line Items]
Weighted average rate of FHLB advances	0.59%				1.09%
FHLB advances collateralized pledged	$ 522,000,000				$ 665,000,000
Subordinated Notes
Debt Type [Line Items]
Face amount issued					$ 152,400,000
Number of notes assumed | note	2
Subordinated Notes | Subordinated Notes Due 2031
Debt Type [Line Items]
Face amount issued						$ 100,000,000
Subordinated Notes | Subordinated Notes Due 2031 | Interest Rate For The Years One Through FIve
Debt Type [Line Items]
Stated interest rate						3.125%
Subordinated Notes | Subordinated Notes Due 2031 | Secured Overnight Financing Rate (SOFR) | Forecast | Interest Rate After Year Five
Debt Type [Line Items]
Floating interest rate basis spread				2.375%
Subordinated Notes | County Subordinated Notes Due 2028
Debt Type [Line Items]
Face amount issued	$ 30,000,000
Subordinated Notes | County Subordinated Notes Due 2028 | Interest Rate For The Years One Through FIve
Debt Type [Line Items]
Stated interest rate	5.875%
Subordinated Notes | County Subordinated Notes Due 2028 | LIBOR | Forecast | Interest Rate After Year Five
Debt Type [Line Items]
Floating interest rate basis spread		2.88%
Subordinated Notes | County Subordinated Notes Due 2030
Debt Type [Line Items]
Face amount issued	$ 22,000,000
Subordinated Notes | County Subordinated Notes Due 2030 | Interest Rate For The Years One Through FIve
Debt Type [Line Items]
Stated interest rate	7%
Subordinated Notes | County Subordinated Notes Due 2030 | Secured Overnight Financing Rate (SOFR) | Forecast | Interest Rate After Year Five
Debt Type [Line Items]
Floating interest rate basis spread			6.875%

SHORT AND LONG-TERM BORROWING_3

SHORT AND LONG-TERM BORROWINGS - Long-Term Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term borrowings	$ 225,342	$ 216,915
FHLB advances
Debt Instrument [Line Items]
Long-term borrowings	33,000	25,000
Junior subordinated debentures
Debt Instrument [Line Items]
Long-term borrowings	39,720	38,885
Subordinated notes
Debt Instrument [Line Items]
Long-term borrowings	$ 152,622	$ 153,030

SHORT AND LONG-TERM BORROWING_4

SHORT AND LONG-TERM BORROWINGS - Summary of Maturity of Notes Payable (Details) - FHLB advances $ in Thousands	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
2023	$ 0
2024	0
2025	5,000
2026	0
2027	0
Thereafter	28,000
Advances from Federal Home Loan Banks	$ 33,000

SHORT AND LONG-TERM BORROWING_5

SHORT AND LONG-TERM BORROWINGS - Junior Subordinated and Subordinated Debentures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Carrying Value	$ 225,342	$ 216,915
Mid-Wisconsin Financial Services, Inc. | LIBOR
Debt Instrument [Line Items]
Floating interest rate basis spread	1.43%
Junior subordinated debentures
Debt Instrument [Line Items]
Par	$ 48,045
Unamortized Premium (Discount)/Debt Issue Costs	(8,325)
Carrying Value	$ 39,720	$ 38,885
Junior subordinated debentures | Mid-Wisconsin Financial Services, Inc.
Debt Instrument [Line Items]
Interest Rate	6.20%	1.63%
Par	$ 10,310
Unamortized Premium (Discount)/Debt Issue Costs	(2,576)
Carrying Value	$ 7,734	$ 7,537
Junior subordinated debentures | Baylake Corp.
Debt Instrument [Line Items]
Interest Rate	6.08%	1.57%
Par	$ 16,598
Unamortized Premium (Discount)/Debt Issue Costs	(3,174)
Carrying Value	$ 13,424	$ 13,187
Junior subordinated debentures | Baylake Corp. | LIBOR
Debt Instrument [Line Items]
Floating interest rate basis spread	1.35%
Junior subordinated debentures | First Menasha Bancshares, Inc.
Debt Instrument [Line Items]
Interest Rate	7.53%	3.01%
Par	$ 5,155
Unamortized Premium (Discount)/Debt Issue Costs	(487)
Carrying Value	$ 4,668	$ 4,624
Junior subordinated debentures | First Menasha Bancshares, Inc. | LIBOR
Debt Instrument [Line Items]
Floating interest rate basis spread	2.79%
Junior subordinated debentures | County Bancorp Statutory Trust II
Debt Instrument [Line Items]
Interest Rate	6.30%	1.73%
Par	$ 6,186
Unamortized Premium (Discount)/Debt Issue Costs	(909)
Carrying Value	$ 5,277	$ 5,061
Junior subordinated debentures | County Bancorp Statutory Trust II | LIBOR
Debt Instrument [Line Items]
Floating interest rate basis spread	1.53%
Junior subordinated debentures | County Bancorp Statutory Trust III
Debt Instrument [Line Items]
Interest Rate	6.46%	1.89%
Par	$ 6,186
Unamortized Premium (Discount)/Debt Issue Costs	(967)
Carrying Value	$ 5,219	$ 5,121
Junior subordinated debentures | County Bancorp Statutory Trust III | LIBOR
Debt Instrument [Line Items]
Floating interest rate basis spread	1.69%
Junior subordinated debentures | Fox River Valley Capital Trust
Debt Instrument [Line Items]
Interest Rate	6.40%	6.40%
Par	$ 3,610
Unamortized Premium (Discount)/Debt Issue Costs	(212)
Carrying Value	$ 3,398	$ 3,355
Junior subordinated debentures | Fox River Valley Capital Trust | LIBOR
Debt Instrument [Line Items]
Floating interest rate basis spread	3.40%
Subordinated notes
Debt Instrument [Line Items]
Par	$ 152,400
Unamortized Premium (Discount)/Debt Issue Costs	222
Carrying Value	$ 152,622	$ 153,030
Subordinated notes | Subordinated Notes Due 2031
Debt Instrument [Line Items]
Interest Rate	3.13%	3.13%
Par	$ 100,000
Unamortized Premium (Discount)/Debt Issue Costs	(733)
Carrying Value	$ 99,267	$ 99,057
Subordinated notes | County Subordinated Notes Due 2028
Debt Instrument [Line Items]
Interest Rate	5.88%	5.88%
Par	$ 30,000
Unamortized Premium (Discount)/Debt Issue Costs	119
Carrying Value	$ 30,119	$ 30,402
Subordinated notes | County Subordinated Notes Due 2030
Debt Instrument [Line Items]
Interest Rate	7%	7%
Par	$ 22,400
Unamortized Premium (Discount)/Debt Issue Costs	836
Carrying Value	$ 23,236	$ 23,571

EMPLOYEE AND DIRECTOR BENEFIT_2

EMPLOYEE AND DIRECTOR BENEFIT PLANS - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) plan shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of deferred compensation plans | plan	2
Employee percentage contribution	100%
Employer contribution matching percentage	100%
Percentage of employee's gross pay	6%
Vesting period	5 years
Company 401k expense	$ 4,000,000	$ 2,500,000	$ 2,200,000
Profit sharing contribution	$ 1,000,000	500,000	$ 500,000
Employee Stock Purchase Plan
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
ESPP discount percentage from market price, beginning of purchase period	10%
Employee Stock Purchase Plan | Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Payroll deductions, per payroll	$ 20
Employee Stock Purchase Plan | Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Payroll deductions, per payroll	400
Deferred compensation plan | Key Management Employees | Other liabilities
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Liability for cumulative employee contributions and earnings	12,100,000	12,700,000
Non elective contributions to selected recipients	$ 2,400,000	$ 5,700,000
Deferred compensation plan | Director
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Maximum percentage to defer the compensation under the plan	100%
Shares purchased under deferred compensation plan (in shares) | shares	1,898	1,018
Value of shares purchased under deferred compensation plan	$ 154,000	$ 73,000
Value of shares distributed under director plan		$ 366,000
Shares distributed under director plan (in shares) | shares	0	4,737
Deferred compensation liability offsetting equity component	$ 1,200,000	$ 1,100,000
Deferred compensation liability offsetting equity component (in shares) | shares	29,660	27,762

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of options	10 years
Stock based compensation expense	$ 6.3	$ 6.6	$ 5.3
Unrecognized compensation cost	$ 18.6
Remaining vesting period over which cost expected to be recognized	4 years
Stock based compensation tax benefit	$ 1.1	0.6	0.8
2011 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares initially covered under the plan (in shares)	3,000,000
Number of shares were available for grant (in shares)	700,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 3.9	2.2	2.5
Director | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 0.7	$ 0.8	$ 0.4
Restricted stock grants (in shares)	8,852	9,875	7,950

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Weighted Average Assumptions for Valuing Stock Option Grants (Details) - Stock Incentive Plan - Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0%	0%	0%
Expected volatility	30%	30%	25%
Risk-free interest rate	3.03%	1.19%	1.35%
Expected average life	7 years	7 years	7 years
Weighted average per share fair value of options (in dollars per share)	$ 30.99	$ 26.33	$ 20.55

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock Options
Weighted Average Exercise Price
Shares surrendered to satisfy exercise price and/or tax withholding requirements (in shares)	7,957	10,354	18,952
Stock Incentive Plan
Option Shares Outstanding
Outstanding, beginning of period (in shares)	1,833,246	1,437,460	1,443,733
Granted (in shares)	132,929	450,000	54,500
Exercise of stock options (in shares)	(82,611)	(53,214)	(60,773)
Forfeited (in shares)	(30,500)	(1,000)	0
Outstanding, end of period (in shares)	1,853,064	1,833,246	1,437,460
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 57.69	$ 50.47	$ 48.75
Granted (in dollars per share)	81.04	77.99	69.44
Exercise of stock options (in dollars per share)	41.84	34.40	26.51
Forfeited (in dollars per share)	75.08	48.85	0
Outstanding, end of period (in dollars per share)	$ 59.79	$ 57.69	$ 50.47
Exercisable (in shares)	1,267,935
Exercisable (in dollars per share)	$ 51.83
Weighted average remaining life outstanding (in years)	5 years 10 months 24 days	6 years 7 months 6 days	6 years 7 months 6 days
Weighted average remaining life exercisable (in years)	4 years 9 months 18 days
Aggregate intrinsic value outstanding	$ 37,526	$ 51,426	$ 23,840
Aggregate intrinsic value exercisable	$ 35,461

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Shares Outstanding (in shares) | shares	1,853,064
Number of Shares Exercisable (in shares) | shares	1,267,935
Weighted Average Exercise Price Outstanding (in dollars per share)	$ 59.79
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 51.83
Weighted Average Remaining Life (Years) Outstanding	5 years 10 months 24 days
Weighted Average Remaining Life (Years) Exercisable	4 years 9 months 18 days
$23.80 – $40.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Shares Outstanding (in shares) | shares	154,585
Number of Shares Exercisable (in shares) | shares	154,585
Weighted Average Exercise Price Outstanding (in dollars per share)	$ 32.21
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 32.21
Weighted Average Remaining Life (Years) Outstanding	2 years 10 months 24 days
Weighted Average Remaining Life (Years) Exercisable	2 years 10 months 24 days
$40.01 – $50.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Shares Outstanding (in shares) | shares	751,450
Number of Shares Exercisable (in shares) | shares	751,450
Weighted Average Exercise Price Outstanding (in dollars per share)	$ 48.85
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 48.85
Weighted Average Remaining Life (Years) Outstanding	4 years 4 months 24 days
Weighted Average Remaining Life (Years) Exercisable	4 years 4 months 24 days
$50.01 – $65.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Shares Outstanding (in shares) | shares	163,500
Number of Shares Exercisable (in shares) | shares	151,400
Weighted Average Exercise Price Outstanding (in dollars per share)	$ 56.44
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 56.41
Weighted Average Remaining Life (Years) Outstanding	5 years 1 month 6 days
Weighted Average Remaining Life (Years) Exercisable	5 years
$65.01 – $75.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Shares Outstanding (in shares) | shares	277,100
Number of Shares Exercisable (in shares) | shares	135,800
Weighted Average Exercise Price Outstanding (in dollars per share)	$ 71.02
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 70.67
Weighted Average Remaining Life (Years) Outstanding	7 years 3 months 18 days
Weighted Average Remaining Life (Years) Exercisable	7 years
$75.01 – $94.90
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Shares Outstanding (in shares) | shares	506,429
Number of Shares Exercisable (in shares) | shares	74,700
Weighted Average Exercise Price Outstanding (in dollars per share)	$ 79.37
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 78.77
Weighted Average Remaining Life (Years) Outstanding	8 years 8 months 12 days
Weighted Average Remaining Life (Years) Exercisable	8 years 4 months 24 days
Minimum | $23.80 – $40.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	$ 23.80
Weighted Average Exercise Price Exercisable (in dollars per share)	23.80
Minimum | $40.01 – $50.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	40.01
Weighted Average Exercise Price Exercisable (in dollars per share)	40.01
Minimum | $50.01 – $65.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	50.01
Weighted Average Exercise Price Exercisable (in dollars per share)	50.01
Minimum | $65.01 – $75.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	65.01
Weighted Average Exercise Price Exercisable (in dollars per share)	65.01
Minimum | $75.01 – $94.90
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	75.01
Weighted Average Exercise Price Exercisable (in dollars per share)	75.01
Maximum | $23.80 – $40.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	40
Weighted Average Exercise Price Exercisable (in dollars per share)	40
Maximum | $40.01 – $50.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	50
Weighted Average Exercise Price Exercisable (in dollars per share)	50
Maximum | $50.01 – $65.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	65
Weighted Average Exercise Price Exercisable (in dollars per share)	65
Maximum | $65.01 – $75.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	75
Weighted Average Exercise Price Exercisable (in dollars per share)	75
Maximum | $75.01 – $94.90
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted Average Exercise Price Outstanding (in dollars per share)	94.90
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 94.90

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Award Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted Average Grant Date Fair  Value
Shares surrendered to satisfy tax withholding requirements (in shares)	2,249	3,215	4,733
Stock Incentive Plan
Restricted Shares Outstanding
Outstanding, beginning of period (in shares)	25,801	18,925	22,521
Granted (in shares)	72,948	33,153	19,672
Vested (in shares)	(24,659)	(25,831)	(23,268)
Forfeited (in shares)	(600)	(446)	0
Outstanding, end of period (in shares)	73,490	25,801	18,925
Weighted Average Grant Date Fair  Value
Outstanding, beginning of period (in dollars per share)	$ 71.42	$ 53.57	$ 44.94
Granted (in dollars per share)	76.81	75.83	60.29
Vested (in dollars per share)	72.64	64.53	50.90
Forfeited (in dollars per share)	56.01	41.44	0
Outstanding, end of period (in dollars per share)	$ 76.49	$ 71.42	$ 53.57

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended
	Aug. 26, 2022	Dec. 03, 2021	Sep. 03, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock Transaction [Line Items]
Stock repurchased under plan				$ 61,497	$ 62,583	$ 42,088
Common stock issued in acquisitions				98,149
Charter Bankshares, Inc.
Stock Transaction [Line Items]
Number of common stock issued for consideration (in shares)	1,262,360
Common stock issued in acquisitions	$ 98,000
Value of cash consideration	$ 39,000
Mackinac Financial Corporation
Stock Transaction [Line Items]
Number of common stock issued for consideration (in shares)			2,337,230
Common stock issued in acquisitions			$ 180,000
Value of cash consideration			49,000
Costs incurred related to stock issuance			$ 400
County Bancorp, Inc.
Stock Transaction [Line Items]
Number of common stock issued for consideration (in shares)		2,366,243
Common stock issued in acquisitions		$ 176,000
Value of cash consideration		48,000
Costs incurred related to stock issuance		$ 400
Common Stock Repurchase Program
Stock Transaction [Line Items]
Stock repurchased under plan				$ 61,000	$ 61,000
Stock repurchased (in shares)				672,000	793,000
Weighted average price of share cancelled (in dollars per share)				$ 91.54	$ 77.50
Stock repurchase remaining authorized amount				$ 48,000

INCOME TAXES - Current and Defe

INCOME TAXES - Current and Deferred Amounts of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current	$ 44,384	$ 14,138	$ 29,764
Deferred	(12,907)	6,332	(9,288)
Income tax expense	$ 31,477	$ 20,470	$ 20,476

INCOME TAXES - Income Tax Recon

INCOME TAXES - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax on pretax income, less noncontrolling interest, at statutory rates	$ 26,405	$ 17,023	$ 16,926
State income taxes, net of federal effect	7,847	5,064	5,030
Tax-exempt interest income	(1,037)	(517)	(513)
Increase in cash surrender value life insurance	(1,040)	(570)	(738)
Stock-based employee compensation	(1,101)	(618)	(839)
Executive compensation	82	163	272
Other, net	321	(75)	338
Income tax expense	$ 31,477	$ 20,470	$ 20,476

INCOME TAXES - Net Deferred Tax

INCOME TAXES - Net Deferred Tax Asset (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
ACL-Loans	$ 22,379	$ 14,650
Net operating loss carryforwards	2,721	3,800
Compensation	10,274	9,194
Other	1,759	2,605
Other real estate	672	1,364
Basis difference on acquired securities	3,172	0
Unrealized loss on securities AFS	21,011	0
Total deferred tax assets	61,988	31,613
Deferred tax liabilities:
Premises and equipment	(3,000)	(3,860)
Prepaid expenses	(801)	(1,110)
Basis difference on acquired securities	0	(1,678)
Core deposit and other intangibles	(8,817)	(5,278)
Purchase accounting adjustments to liabilities	(1,595)	(1,725)
MSR and LSR assets	(6,570)	(8,726)
Other	(513)	(2,462)
Unrealized gain on securities AFS	0	(1,392)
Total deferred tax liabilities	(21,296)	(26,231)
Net deferred tax assets	$ 40,692	$ 5,382

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Additional Tax information [Line Items]
Valuation allowance	$ 0	$ 0
Federal
Additional Tax information [Line Items]
Operating loss carryforwards	8,900,000
State
Additional Tax information [Line Items]
Operating loss carryforwards	$ 13,800,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Contract or Notional Amount of Exposure to Off-Balance-Sheet Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Commitments to extend credit
Other Commitments [Line Items]
Contract and notional amounts of commitments	$ 1,850,601	$ 1,433,881
Financial standby letters of credit
Other Commitments [Line Items]
Contract and notional amounts of commitments	26,530	13,562
Performance standby letters of credit
Other Commitments [Line Items]
Contract and notional amounts of commitments	$ 9,375	$ 7,336

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Commercial-related commitments to extend credit	80%	80%
Derivative fair value, net	$ 0.1	$ 0.1
Federal funds accommodations	195	195
Interest Rate Lock Commitments
Derivative [Line Items]
Commitments to sell residential mortgage loans held for sale considered derivative instruments	9	50
Forward Commitments
Derivative [Line Items]
Commitments to sell residential mortgage loans held for sale considered derivative instruments	$ 9	$ 1

RELATED PARTY TRANSACTIONS - Lo

RELATED PARTY TRANSACTIONS - Loans to Related Parties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance at beginning of year	$ 112,917
New loans	20,713
Repayments	(21,131)
Changes due to status of executive officers and directors	(1,792)
Balance at end of year	$ 110,707

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended				24 Months Ended	48 Months Ended
	Aug. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) branch_location construction_project	Dec. 31, 2021 USD ($) executive $ / shares shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022
Related Party Transaction [Line Items]
Number of executives stock was repurchased from | executive				1
Purchase of noncontrolling interest			$ 0	$ 0	$ 8,000
Nicolet Joint Ventures, LLC (the "JV")
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners									50%
Noncontrolling interest, ownership percentage purchased		50%
Purchase of noncontrolling interest		$ 8,000
Charter Administrative Location In Facility
Related Party Transaction [Line Items]
Rent expense	$ 49
Director
Related Party Transaction [Line Items]
Stock repurchased (in shares) | shares				2,193
Cumulative amount repurchased				$ 200
Average cost per share (in dollars per share) | $ / shares				$ 76.14
Director | New branch location in facility opened in October 2013
Related Party Transaction [Line Items]
Rent expense			153	$ 124	122
Director | 2022 New Branch Construction
Related Party Transaction [Line Items]
Payments for branch reconstruction			1,100					$ 2,300
Director | 2019 branch reconstruction
Related Party Transaction [Line Items]
Payments for branch reconstruction					900	$ 400	$ 1,300
Percentage payments for branch reconstruction paid to subcontractor				75%
Director | Two Small Branch Construction
Related Party Transaction [Line Items]
Payments for branch reconstruction			$ 154
Number Of Construction Projects | construction_project			2
Number Of Branch Locations | branch_location			2
Nicolet Joint Ventures, LLC (the "JV") | Nicolet national bank
Related Party Transaction [Line Items]
Rent expense					$ 1,300

ASSETS GAINS (LOSSES), NET - Co

ASSETS GAINS (LOSSES), NET - Components of Net Gain (Loss) on Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets Gains (Losses), Net [Abstract]
Gains (losses) on sales of securities AFS, net	$ (244)	$ (283)	$ 395
Gains (losses) on equity securities, net	(127)	3,445	(987)
Gains (losses) on sales of OREO, net	3,206	597	157
Write-downs of OREO	(244)	(28)	(1,040)
Write-down of other investment	0	0	(100)
Gains (losses) on sales of other investments, net	531	550	0
Gains (losses) on sales or dispositions of other assets, net	8	(100)	(230)
Asset gains (losses), net	$ 3,130	$ 4,181	$ (1,805)

REGULATORY CAPITAL REQUIREMEN_3

REGULATORY CAPITAL REQUIREMENTS - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Regulatory Capital Requirements Under Banking Regulations [Abstract]
Allowable amount of dividends before regulatory approval required	$ 28

REGULATORY CAPITAL REQUIREMEN_4

REGULATORY CAPITAL REQUIREMENTS - Company's and Bank's Actual Regulatory Capital Amounts and Ratios (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Nicolet Bankshares, Inc
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total risk-based capital, Actual amount	$ 889,763	$ 793,410
Total risk-based capital, Actual ratio	0.123	0.138
Total risk-based capital, For capital adequacy purposes, Amount	$ 577,138	$ 459,648
Total risk-based capital, For capital adequacy purposes, Ratio	0.080	0.080
Tier I risk-based capital, Actual amount	$ 684,280	$ 604,199
Tier I risk-based capital, Actual ratio	0.095	0.105
Tier I risk-based capital, For capital adequacy purposes, Amount	$ 432,853	$ 344,736
Tier I risk-based capital, For capital adequacy purposes, Ratio	0.060	0.060
Common equity Tier 1 capital, Actual Amount	$ 646,341	$ 567,095
Common equity Tier 1 capital, Actual Ratio	0.090	0.099
Common equity Tier 1 capital, For Capital Adequacy Purposes, Amount	$ 324,640	$ 258,552
Common equity Tier I risk-based capital, For capital adequacy purposes, Ratio	0.045	0.045
Leverage, Actual amount	$ 684,280	$ 604,199
Leverage, Actual ratio	0.082	0.094
Leverage, For capital adequacy purposes, Amount	$ 335,621	$ 256,990
Leverage, For capital adequacy purposes, Ratio	0.040	0.040
Nicolet national bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total risk-based capital, Actual amount	$ 816,951	$ 700,869
Total risk-based capital, Actual ratio	0.113	0.122
Total risk-based capital, For capital adequacy purposes, Amount	$ 576,241	$ 459,476
Total risk-based capital, For capital adequacy purposes, Ratio	0.080	0.080
Total risk-based capital, To be well capitalized under prompt corrective action provisions, Amount	$ 720,301	$ 574,345
Total risk-based capital, To be well capitalized under prompt corrective action provisions, Ratio	0.100	0.100
Tier I risk-based capital, Actual amount	$ 764,090	$ 664,688
Tier I risk-based capital, Actual ratio	0.106	0.116
Tier I risk-based capital, For capital adequacy purposes, Amount	$ 432,181	$ 344,607
Tier I risk-based capital, For capital adequacy purposes, Ratio	0.060	0.060
Tier I risk-based capital, To be well capitalized under prompt corrective action provisions, Amount	$ 576,241	$ 459,476
Tier I risk-based capital, To be well capitalized under prompt corrective action provisions, Ratio	0.080	0.080
Common equity Tier 1 capital, Actual Amount	$ 764,090	$ 664,688
Common equity Tier 1 capital, Actual Ratio	0.106	0.116
Common equity Tier 1 capital, For Capital Adequacy Purposes, Amount	$ 324,135	$ 258,455
Common equity Tier I risk-based capital, For capital adequacy purposes, Ratio	0.045	0.045
Common equity Tier 1 capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 468,196	$ 373,324
Common equity Tier 1 capital, To be well capitalized under prompt corrective action provisions ratio, Ratio	0.065	0.065
Leverage, Actual amount	$ 764,090	$ 664,688
Leverage, Actual ratio	0.091	0.103
Leverage, For capital adequacy purposes, Amount	$ 334,916	$ 256,990
Leverage, For capital adequacy purposes, Ratio	0.040	0.040
Leverage, To be well capitalized under prompt corrective action provisions, Amount	$ 418,645	$ 321,237
Leverage, To be well capitalized under prompt corrective action provisions, Ratio	0.050	0.050

FAIR VALUE MEASUREMENTS - Measu

FAIR VALUE MEASUREMENTS - Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	$ 917,618	$ 921,661
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	917,618	921,661
Derivative assets	0	1,064
Derivative liabilities	0	1,064
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Derivative assets	0	0
Derivative liabilities	0	0
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	909,465	913,596
Derivative assets	0	1,064
Derivative liabilities	0	1,064
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	8,153	8,065
Derivative assets	0	0
Derivative liabilities	0	0
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	183,830	190,272
U.S. Treasury securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	183,830	190,272
U.S. Treasury securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
U.S. Treasury securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	183,830	190,272
U.S. Treasury securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	2,100	1,005
U.S. government agency securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	2,100	1,005
U.S. government agency securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
U.S. government agency securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	2,100	1,005
U.S. government agency securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	398,188	312,737
State, county and municipals | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	398,188	312,737
State, county and municipals | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
State, county and municipals | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	396,315	310,316
State, county and municipals | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	1,873	2,421
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	200,932	271,262
Mortgage-backed securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	200,932	271,262
Mortgage-backed securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Mortgage-backed securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	199,951	270,260
Mortgage-backed securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	981	1,002
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	132,568	146,385
Corporate debt securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	132,568	146,385
Corporate debt securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Corporate debt securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	127,269	141,743
Corporate debt securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	5,299	4,642
Equity securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments (equity securities)	4,376	5,660
Equity securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments (equity securities)	4,376	5,660
Equity securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments (equity securities)	0	0
Equity securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments (equity securities)	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in Level 3 Assets (Details) - Recurring - Securities AFS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Level 3 Fair Value Measurements:
Unrealized gains / (losses)	$ (211)	$ 0
Level 3
Level 3 Fair Value Measurements:
Balance at beginning of year	8,065	3,130
Acquired balances	750	4,935
Paydowns/Sales/Settlements	(451)	0
Balance at end of year	$ 8,153	$ 8,065

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value on Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 30,951
OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	1,975	$ 11,955
MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	12,580	12,436
Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure		36,230
Level 1 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Level 1 | OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Level 1 | MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Level 1 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Level 2 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Level 2 | OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Level 2 | MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Level 2 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure		0
Level 3 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	30,951
Level 3 | OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	1,975	11,955
Level 3 | MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 12,580	12,436
Level 3 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure		$ 36,230

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial assets:
Securities AFS	$ 917,618	$ 921,661
Securities HTM	623,352	648,394
Carrying Amount
Financial assets:
Cash and cash equivalents	154,723	595,292
Certificates of deposit in other banks	12,518	21,920
Securities AFS	917,618	921,661
Securities HTM	679,128	651,803
Other investments	65,286	44,008
Loans held for sale	1,482	6,447
Loans, net	6,118,670	4,572,164
Accrued interest receivable	21,275	15,277
Financial liabilities:
Deposits	7,178,921	6,465,916
Short-term borrowings	317,000
Long-term borrowings	225,342	216,915
Accrued interest payable	4,265	3,078
Carrying Amount | MSR asset
Financial assets:
Servicing rights	12,580	12,436
Estimated Fair Value
Financial assets:
Cash and cash equivalents	154,723	595,292
Certificates of deposit in other banks	12,407	22,236
Securities AFS	917,618	921,661
Securities HTM	623,352	648,394
Other investments	65,286	44,008
Loans held for sale	1,529	6,616
Loans, net	5,863,570	4,606,851
Accrued interest receivable	21,275	15,277
Financial liabilities:
Deposits	7,172,779	6,463,064
Short-term borrowings	317,000
Long-term borrowings	220,513	216,092
Accrued interest payable	4,265	3,078
Estimated Fair Value | MSR asset
Financial assets:
Servicing rights	17,215	15,599
Level 1 | Estimated Fair Value
Financial assets:
Cash and cash equivalents	154,723	595,292
Certificates of deposit in other banks	0	0
Securities AFS	0	0
Securities HTM	0	0
Other investments	4,376	5,660
Loans held for sale	0	0
Loans, net	0	0
Accrued interest receivable	21,275	15,277
Financial liabilities:
Deposits	0	0
Short-term borrowings	317,000
Long-term borrowings	0	0
Accrued interest payable	4,265	3,078
Level 1 | Estimated Fair Value | MSR asset
Financial assets:
Servicing rights	0	0
Level 2 | Estimated Fair Value
Financial assets:
Cash and cash equivalents	0	0
Certificates of deposit in other banks	12,407	22,236
Securities AFS	909,465	913,596
Securities HTM	623,352	648,394
Other investments	52,093	32,110
Loans held for sale	1,529	6,616
Loans, net	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	0	0
Short-term borrowings	0
Long-term borrowings	33,001	25,097
Accrued interest payable	0	0
Level 2 | Estimated Fair Value | MSR asset
Financial assets:
Servicing rights	0	0
Level 3 | Estimated Fair Value
Financial assets:
Cash and cash equivalents	0	0
Certificates of deposit in other banks	0	0
Securities AFS	8,153	8,065
Securities HTM	0	0
Other investments	8,817	6,238
Loans held for sale	0	0
Loans, net	5,863,570	4,606,851
Accrued interest receivable	0	0
Financial liabilities:
Deposits	7,172,779	6,463,064
Short-term borrowings	0
Long-term borrowings	187,512	190,995
Accrued interest payable	0	0
Level 3 | Estimated Fair Value | MSR asset
Financial assets:
Servicing rights	$ 17,215	$ 15,599

PARENT COMPANY ONLY FINANCIAL_3

PARENT COMPANY ONLY FINANCIAL INFORMATION - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and due from subsidiary	$ 121,211	$ 209,349
Total assets	8,763,969	7,695,037
Liabilities and Stockholders’ Equity
Other liabilities	70,177	68,729
Stockholders’ equity	972,529	891,891
Total liabilities and stockholders’ equity	8,763,969	7,695,037
Nicolet Bankshares, Inc
Assets
Cash and due from subsidiary	63,927	84,656
Investments	10,313	9,684
Investments in subsidiaries	1,094,063	998,032
Other assets	392	1,503
Total assets	1,168,695	1,093,875
Liabilities and Stockholders’ Equity
Junior subordinated debentures	39,720	38,885
Subordinated notes	152,622	153,030
Other liabilities	3,824	10,069
Stockholders’ equity	972,529	891,891
Total liabilities and stockholders’ equity	$ 1,168,695	$ 1,093,875

PARENT COMPANY ONLY FINANCIAL_4

PARENT COMPANY ONLY FINANCIAL INFORMATION - Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Interest income	$ 273,918	$ 171,559	$ 149,202
Interest expense	33,957	13,604	19,864
Net interest income	239,961	157,955	129,338
Income tax benefit	(31,477)	(20,470)	(20,476)
Net income	94,260	60,652	60,469
Nicolet Bankshares, Inc
Condensed Financial Statements, Captions [Line Items]
Interest income	81	18	39
Interest expense	8,687	2,959	2,313
Net interest income	(8,606)	(2,941)	(2,274)
Dividend income from subsidiaries	77,775	65,000	60,215
Operating expense	(457)	(2,562)	(886)
Gain (loss) on investments, net	395	3,995	(1,087)
Income tax benefit	2,373	437	1,102
Earnings before equity in undistributed income (loss) of subsidiaries	71,480	63,929	57,070
Equity in undistributed income (loss) of subsidiaries	22,780	(3,277)	3,052
Net income	$ 94,260	$ 60,652	$ 60,122

PARENT COMPANY ONLY FINANCIAL_5

PARENT COMPANY ONLY FINANCIAL INFORMATION - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows From Operating Activities:
Net income attributable to Nicolet Bankshares, Inc.	$ 94,260	$ 60,652	$ 60,469
Cash Flows From Investing Activities:
Net cash paid in business combinations	(28,221)		(21,820)
Cash Flows From Financing Activities:
Purchase and retirement of common stock	(61,497)	(62,583)	(42,088)
Proceeds from issuance of common stock, net	3,282	2,382	2,055
Capitalized issuance costs, net	0	(789)	0
Repayments of long-term borrowings	(20,000)	(187,961)	(384,091)
Net increase (decrease) in cash and cash equivalents	(440,569)	(207,567)	620,800
Nicolet Bankshares, Inc
Cash Flows From Operating Activities:
Net income attributable to Nicolet Bankshares, Inc.	94,260	60,652	60,122
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of discounts on borrowings	427	584	486
(Gain) loss on investments, net	(395)	(3,995)	1,087
Change in other assets and liabilities, net	(1,775)	1,013	1,786
Equity in undistributed (income) loss of subsidiaries, net of dividends	(22,780)	3,277	(3,052)
Net cash provided by operating activities	69,737	61,531	60,429
Cash Flows From Investing Activities:
Proceeds from sale of investments	1,835	4,105	185
Purchases of investments	(2,116)	(5,049)	(1,179)
Net cash paid in business combinations	(31,970)	(63,892)	(21,644)
Net cash used in investing activities	(32,251)	(64,836)	(22,638)
Cash Flows From Financing Activities:
Purchase and retirement of common stock	(61,497)	(62,583)	(42,088)
Proceeds from issuance of common stock, net	3,282	2,382	2,055
Capitalized issuance costs, net	0	(789)	0
Repayments of long-term borrowings	0	0	(18,186)
Proceeds from issuance of subordinated notes, net	0	98,953	0
Net cash provided by (used in) financing activities	(58,215)	37,963	(58,219)
Net increase (decrease) in cash and cash equivalents	(20,729)	34,658	(20,428)
Beginning cash and due from subsidiary	84,656	49,998	70,426
Ending cash and due from subsidiary	$ 63,927	$ 84,656	$ 49,998

EARNINGS PER COMMON SHARE - Cal

EARNINGS PER COMMON SHARE - Calculations for Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income attributable to Nicolet Bankshares, Inc.	$ 94,260	$ 60,652	$ 60,122
Weighted average common shares outstanding (in shares)	13,909,299	10,735,605	10,337,138
Effect of dilutive common stock awards (in shares)	466,000	409,000	204,000
Diluted weighted average common shares outstanding (in shares)	14,374,931	11,144,866	10,541,251
Basic earnings per common share (in dollars per share)	$ 6.78	$ 5.65	$ 5.82
Diluted earnings per common share (in dollars per share)	$ 6.56	$ 5.44	$ 5.70

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Shares excluded from calculation of earnings per common share (in shares)	0.1	0.1	0.1

OTHER ASSETS AND OTHER LIABIL_2

OTHER ASSETS AND OTHER LIABILITIES HELD FOR SALE (Details) - Held-for-sale - Birmingham Sale $ in Millions	Dec. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loans	$ 199
Deposits	$ 51

Uncategorized Items - nic-20221

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]