Nicolet Bankshares (NIC) 10-Q 1 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		15,211,674
Entity Central Index Key	0001174850
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2024		Dec. 31, 2023
Assets
Cash and due from banks	$ 124,076,000		$ 129,898,000
Interest-earning deposits	303,908,000		361,533,000
Cash and cash equivalents	427,984,000	[1]	491,431,000
Certificates of deposit in other banks	3,189,000		6,374,000
Securities available for sale (“AFS”), at fair value	825,907,000		802,573,000
Other investments	60,443,000		57,560,000
Loans held for sale	11,121,000		4,160,000
Loans	6,556,840,000		6,353,942,000
Allowance for credit losses - loans (“ACL-Loans”)	(65,785,000)		(63,610,000)
Loans, net	6,491,055,000		6,290,332,000
Premises and equipment, net	123,585,000		118,756,000
Bank owned life insurance (“BOLI”)	185,011,000		169,392,000
Goodwill and other intangibles, net	389,727,000		394,366,000
Accrued interest receivable and other assets	119,096,000		133,734,000
Total assets	8,637,118,000		8,468,678,000
Liabilities:
Noninterest-bearing demand deposits	1,839,617,000		1,958,709,000
Interest-bearing deposits	5,420,380,000		5,239,091,000
Total deposits	7,259,997,000		7,197,800,000
Short-term borrowings	0		0
Long-term borrowings	161,210,000		166,930,000
Accrued interest payable and other liabilities	66,584,000		64,941,000
Total liabilities	7,487,791,000		7,429,671,000
Stockholders’ Equity:
Common stock	151,000		149,000
Additional paid-in capital	647,934,000		633,770,000
Retained earnings	535,638,000		458,261,000
Accumulated other comprehensive income (loss)	(34,396,000)		(53,173,000)
Total stockholders’ equity	1,149,327,000		1,039,007,000
Total liabilities and stockholders’ equity	$ 8,637,118,000		$ 8,468,678,000
Preferred shares authorized (no par value)	10,000,000		10,000,000
Preferred shares issued and outstanding	0		0
Common shares authorized (par value $0.01 per share)	30,000,000		30,000,000
Common shares outstanding	15,104,381		14,894,209
Common shares issued	15,158,639		14,951,367
[1]There was no restricted cash in cash and cash equivalents at either September 30, 2024 or September 30, 2023.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred shares authorized, par value (in dollars per share)	$ 0	$ 0
Common shares authorized, par value (in dollars per share)	$ 0.01	$ 0.01

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest income:
Loans, including loan fees	$ 100,824	$ 87,657	$ 292,447	$ 250,890
Investment securities:
Taxable	5,211	4,351	14,824	13,445
Tax-exempt	1,095	1,424	3,485	4,637
Other interest income	5,492	6,452	14,775	10,345
Total interest income	112,622	99,884	325,531	279,317
Interest expense:
Deposits	42,060	34,964	122,436	89,241
Short-term borrowings	2	474	2	4,794
Long-term borrowings	2,194	2,972	6,578	8,048
Total interest expense	44,256	38,410	129,016	102,083
Net interest income	68,366	61,474	196,515	177,234
Provision for credit losses	750	450	2,850	3,990
Net interest income after provision for credit losses	67,616	61,024	193,665	173,244
Noninterest income:
Mortgage income, net	2,853	2,020	6,851	5,308
BOLI income	1,455	1,090	4,027	3,363
Deferred compensation plan asset market valuations	1,162	(457)	1,390	988
LSR income, net	1,090	1,108	3,341	3,398
Asset gains (losses), net	1,177	31	3,702	(38,755)
Other income	2,079	1,879	6,427	5,611
Total noninterest income	22,378	16,541	61,409	11,538
Noninterest expense:
Personnel	28,937	23,944	81,732	72,172
Occupancy, equipment and office	8,826	9,027	26,451	26,655
Business development and marketing	1,823	1,869	6,005	5,936
Data processing	4,535	4,643	13,086	12,849
Intangibles amortization	1,694	1,986	5,289	6,230
FDIC assessments	990	1,500	3,013	3,049
Merger-related expense	0	0	0	189
Other expense	2,343	2,769	7,572	8,490
Total noninterest expense	49,148	45,738	143,148	135,570
Income before income tax expense	40,846	31,827	111,926	49,212
Income tax expense	8,330	14,669	22,347	18,357
Net income	$ 32,516	$ 17,158	$ 89,579	$ 30,855
Earnings per common share:
Basic (in dollars per share)	$ 2.16	$ 1.16	$ 5.99	$ 2.10
Diluted (in dollars per share)	$ 2.10	$ 1.14	$ 5.84	$ 2.05
Weighted average common shares outstanding:
Basic (in shares)	15,052,524	14,740,319	14,965,982	14,715,588
Diluted (in shares)	15,479,395	15,099,622	15,329,687	15,044,259
Wealth management fee income
Noninterest income:
Fees and commissions	$ 7,085	$ 6,057	$ 20,244	$ 17,439
Service charges on deposit accounts
Noninterest income:
Fees and commissions	1,913	1,492	5,307	4,501
Card interchange income
Noninterest income:
Fees and commissions	$ 3,564	$ 3,321	$ 10,120	$ 9,685

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 32,516	$ 17,158	$ 89,579	$ 30,855
Unrealized gains (losses) on securities AFS:
Net unrealized holding gains (losses)	26,467	(21,645)	24,967	(12,244)
Net realized (gains) losses included in income	0	(11)	(968)	337
Reclassification adjustment for securities transferred from held to maturity to available for sale	0	0	0	(20,434)
Income tax (expense) benefit	(5,601)	3,574	(5,222)	6,460
Total other comprehensive income (loss)	20,866	(18,082)	18,777	(25,881)
Comprehensive income (loss)	$ 53,382	$ (924)	$ 108,356	$ 4,974

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2022	$ 972,529	$ 147	$ 621,988	$ 407,864	$ (57,470)
Comprehensive income:
Net income	30,855			30,855
Other comprehensive income (loss)	(25,881)				(25,881)
Stock-based compensation expense	4,829		4,829
Cash dividends on common stock	(7,402)			(7,402)
Exercise of stock options, net	454	1	453
Issuance of common stock	598		598
Purchase and retirement of common stock	(1,521)	(1)	(1,520)
Ending Balance at Sep. 30, 2023	974,461	147	626,348	431,317	(83,351)
Beginning Balance at Jun. 30, 2023	977,638	147	624,897	417,863	(65,269)
Comprehensive income:
Net income	17,158			17,158
Other comprehensive income (loss)	(18,082)				(18,082)
Stock-based compensation expense	1,399		1,399
Cash dividends on common stock	(3,704)			(3,704)
Exercise of stock options, net	(146)		(146)
Issuance of common stock	198		198
Ending Balance at Sep. 30, 2023	974,461	147	626,348	431,317	(83,351)
Beginning Balance at Dec. 31, 2023	1,039,007	149	633,770	458,261	(53,173)
Comprehensive income:
Net income	89,579			89,579
Other comprehensive income (loss)	18,777				18,777
Stock-based compensation expense	5,117		5,117
Cash dividends on common stock	(12,202)			(12,202)
Exercise of stock options, net	8,464	2	8,462
Issuance of common stock	585		585
Ending Balance at Sep. 30, 2024	1,149,327	151	647,934	535,638	(34,396)
Beginning Balance at Jun. 30, 2024	1,091,413	150	639,159	507,366	(55,262)
Comprehensive income:
Net income	32,516			32,516
Other comprehensive income (loss)	20,866				20,866
Stock-based compensation expense	1,521		1,521
Cash dividends on common stock	(4,244)			(4,244)
Exercise of stock options, net	7,099	1	7,098
Issuance of common stock	156		156
Ending Balance at Sep. 30, 2024	$ 1,149,327	$ 151	$ 647,934	$ 535,638	$ (34,396)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock (in dollars per share)	$ 0.28	$ 0.25	$ 0.81	$ 0.50

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Cash Flows From Operating Activities:
Net income		$ 89,579	$ 30,855
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and accretion		13,604	13,163
Provision for credit losses		2,850	3,990
Increase in cash surrender value of life insurance		(4,027)	(3,386)
Stock-based compensation expense		5,117	4,829
Asset (gains) losses, net		(3,702)	38,755
Gain on sale of loans held for sale, net		(6,256)	(3,230)
Proceeds from sale of loans held for sale		169,511	108,991
Origination of loans held for sale		(171,974)	(111,883)
Net change due to:
Accrued interest receivable and other assets		4,019	(3,263)
Accrued interest payable and other liabilities		1,643	(8,618)
Net cash provided by (used in) operating activities		100,364	70,203
Cash Flows From Investing Activities:
Net (increase) decrease in loans		(199,100)	(55,042)
Net (increase) decrease in certificates of deposit in other banks		3,185	4,920
Purchases of securities AFS		(86,045)	(20,220)
Proceeds from sales of securities AFS		4,987	28,992
Proceeds from sales of securities HTM		0	460,051
Proceeds from calls and maturities of securities AFS		80,472	256,151
Proceeds from calls and maturities of securities HTM		0	2,916
Purchases of other investments		(915)	(12,934)
Proceeds from sales of other investments		2,699	18,939
Purchases of BOLI		(11,500)	0
Proceeds from redemption of BOLI		0	312
Net (increase) decrease in premises and equipment		(11,202)	(15,104)
Net (increase) decrease in other real estate and other assets		(264)	1,211
Net cash provided by (used in) investing activities		(217,683)	670,192
Cash Flows From Financing Activities:
Net increase (decrease) in deposits		62,197	3,633
Net increase (decrease) in short-term borrowings		0	(317,000)
Repayments of long-term borrowings		(5,172)	(28,000)
Purchase and retirement of common stock		0	(1,521)
Cash dividends paid on common stock		(12,202)	(7,402)
Proceeds from issuance of common stock		585	598
Proceeds from exercise of stock options		8,464	454
Net cash provided by (used in) financing activities		53,872	(349,238)
Net increase (decrease) in cash and cash equivalents		(63,447)	391,157
Cash and cash equivalents:
Beginning		491,431	154,723
Ending	[1]	427,984	545,880
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest		128,874	99,486
Cash paid for taxes		15,260	22,920
Transfer of securities from HTM to AFS		0	177,727
Transfer of loans and bank premises to other real estate owned		109	873
Capitalized mortgage servicing rights		$ 1,758	$ 1,104
[1]There was no restricted cash in cash and cash equivalents at either September 30, 2024 or September 30, 2023.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Restricted cash and cash equivalents	$ 0	$ 0

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation General In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the consolidated balance sheets, statements of income, comprehensive income (loss), changes in stockholders’ equity, and cash flows of Nicolet Bankshares, Inc. (the “Company” or “Nicolet”) and its subsidiaries, as of and for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions and balances have been eliminated. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the entire year. These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been omitted or abbreviated. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Critical Accounting Policies and Estimates Preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Material estimates may be used in accounting for, among other items, the allowance for credit losses, valuation of loans in acquisition transactions, useful lives for depreciation and amortization, fair value of financial instruments, impairment calculations, valuation of deferred tax assets, uncertain income tax positions, and contingencies. These estimates and assumptions are based on management’s knowledge of historical experience, current information, and other factors deemed to be relevant; accordingly, as this information changes, actual results could differ from those estimates. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: external market factors such as market interest rates and employment rates, changes to operating policies and procedures, changes in applicable banking or tax regulations, and changes to deferred tax estimates. Nicolet considers accounting estimates to be critical to reported financial results if the accounting estimate requires management to make assumptions about matters that are highly uncertain and different estimates that management reasonably could have used for the accounting estimate in the current period, or changes in the accounting estimate that are reasonably likely to occur from period to period, could have a material impact on the financial statements. The accounting estimates we consider to be critical include business combinations and the valuation of loans acquired, the determination of the allowance for credit losses, and income taxes. There have been no material changes or developments with respect to the assumptions or methodologies that the Company uses when applying critical accounting policies and developing critical accounting estimates as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Recent Accounting Pronouncements Adopted In March 2023, the FASB issued ASU 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method . This ASU permits reporting entities to elect to account for tax equity investments, regardless of the tax credit program for which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax credits and other income tax benefits received and recognizes the net amortization and income tax credits and other income tax benefits in the income statement as a component of income tax expense. A reporting entity makes an accounting policy election to apply the proportional amortization method on a tax-credit-program-by-tax-credit-program basis rather than electing to apply the proportional amortization method at the reporting entity level or to individual investments. This ASU also requires specific disclosures of investments that generate income tax credits and other income tax benefits from a tax credit program for which the entity has elected to apply the proportional amortization method. The updated guidance is effective for fiscal years beginning after December 15, 2023. Adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. Future Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments in this ASU improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation table, as well as income taxes paid disaggregated by jurisdiction. These expanded disclosures will allow investors to better assess how an entity’s overall operations, including the related tax risks, tax planning, and operational opportunities, affect its income tax rate and prospects for future cash flows. The updated guidance is effective for annual periods beginning after December 15, 2024. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share Basic earnings per common share are calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are calculated by dividing net income by the weighted average number of shares adjusted for the dilutive effect of common stock awards (outstanding stock options and unvested restricted stock), if any. Presented below are the calculations for basic and diluted earnings per common share. Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share data) 2024 2023 2024 2023 Net income $ 32,516 $ 17,158 $ 89,579 $ 30,855 Weighted average common shares outstanding 15,052 14,740 14,966 14,716 Effect of dilutive common stock awards 427 360 364 328 Diluted weighted average common shares outstanding 15,479 15,100 15,330 15,044 Basic earnings per common share* $ 2.16 $ 1.16 $ 5.99 $ 2.10 Diluted earnings per common share* $ 2.10 $ 1.14 $ 5.84 $ 2.05 *Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year to date earnings per share data.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company may grant stock options and restricted stock awards under its stock-based compensation plans to certain officers, employees, and directors. These plans are administered by a committee of the Board of Directors, and at September 30, 2024, approximately 0.6 million shares were available for grant under these stock-based compensation plans. A Black-Scholes model is utilized to estimate the fair value of stock option grants, while the market price of the Company’s stock at the date of grant is used to estimate the fair value of restricted stock awards. The weighted average assumptions used in the Black-Scholes model for valuing stock option grants were as follows. Nine Months Ended September 30, 2024 2023 Dividend yield 1.3 % 1.6 % Expected volatility 30 % 30 % Risk-free interest rate 4.52 % 3.74 % Expected average life 7 years 7 years Weighted average per share fair value of options $ 27.91 $ 20.94 A summary of the Company’s stock option activity is summarized below. Stock Options Option Shares Weighted Weighted Average Aggregate Outstanding - December 31, 2023 1,623,088 $ 62.09 Granted 80,000 78.32 Exercise of stock options * (188,438) 48.53 Forfeited (6,700) 74.03 Outstanding - September 30, 2024 1,507,950 $ 64.60 5.0 $ 46,799 Exercisable - September 30, 2024 1,102,193 $ 60.06 4.1 $ 39,203 * The terms of the stock option agreements permit having a number of shares of stock withheld, the fair market value of which as of the date of exercise is sufficient to satisfy the exercise price and/or tax withholding requirements. For the nine months ended September 30, 2024, 2,942 such shares were withheld by the Company. Intrinsic value represents the amount by which the fair market value of the underlying stock exceeds the exercise price of the stock options. The intrinsic value of options exercised for the nine months ended September 30, 2024 and 2023 was approximately $8.6 million and $3.7 million, respectively. A summary of the Company’s restricted stock activity is summarized below. Restricted Stock Weighted Average Grant Restricted Shares Outstanding - December 31, 2023 $ 76.61 57,158 Granted 78.67 18,764 Vested * 77.62 (21,664) Outstanding - September 30, 2024 $ 76.92 54,258 * The terms of the restricted stock agreements permit the surrender of shares to the Company upon vesting in order to satisfy applicable withholding at the minimum statutory withholding rate, and accordingly 4,306 shares were surrendered for the nine months ended September 30, 2024. The Company recognized approximately $4.4 million and $4.2 million of stock-based compensation expense (included in personnel on the consolidated statements of income) for the nine months ended September 30, 2024 and 2023, respectively, associated with its common stock awards granted to officers and employees. In addition, for the nine months ended September 30, 2024, the Company recognized approximately $0.7 million of director expense (included in other expense on the consolidated statements of income) for restricted stock grants totaling 8,764 shares with immediate vesting to directors, while for the nine months ended September 30, 2023, the Company recognized approximately $0.6 million of director expense for restricted stock grants totaling 11,674 shares with immediate vesting to directors, in each case representing the annual stock retainer fee paid to external board members. As of September 30, 2024, there was approximately $12.1 million of unrecognized compensation cost related to equity award grants, which is expected to be recognized over the remaining vesting period of approximately three years. The Company recognized a tax benefit of approximately $1.5 million and $0.5 million for the nine months ended September 30, 2024 and 2023, respectively, for the tax impact of stock option exercises and vesting of restricted stock.

Securities and Other Investment

Securities and Other Investments	9 Months Ended
	Sep. 30, 2024
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. Premiums and discounts on investment securities are amortized or accreted into interest income over the estimated life of the related securities using the effective interest method. The amortized cost and fair value of securities AFS are summarized as follows. September 30, 2024 (in thousands) Amortized Cost Gross Gross Estimated Fair Value Securities AFS: U.S. Treasury securities $ 15,844 $ — $ 1,384 $ 14,460 U.S. government agency securities 5,914 6 26 5,894 State, county and municipals 318,878 478 19,426 299,930 Mortgage-backed securities 446,648 3,966 26,804 423,810 Corporate debt securities 87,238 154 5,579 81,813 Total securities AFS $ 874,522 $ 4,604 $ 53,219 $ 825,907 December 31, 2023 (in thousands) Amortized Cost Gross Gross Estimated Fair Value Securities AFS: U.S. Treasury securities $ 15,988 $ — $ 1,865 $ 14,123 U.S. government agency securities 7,430 — 46 7,384 State, county and municipals 360,496 651 26,325 334,822 Mortgage-backed securities 388,378 1,437 37,193 352,622 Corporate debt securities 102,895 26 9,299 93,622 Total securities AFS $ 875,187 $ 2,114 $ 74,728 $ 802,573 On March 7, 2023, Nicolet executed the sale of $500 million (par value) U.S. Treasury held to maturity securities for a pre-tax loss of $38 million or an after-tax loss of $28 million. Proceeds from the sale were used to reduce existing FHLB borrowings with the remainder held in investable cash. As a result of the sale of securities previously classified as held to maturity, the remaining unsold portfolio of held to maturity securities, with a book value of $177 million, was reclassified to available for sale with a carrying value of approximately $157 million. The unrealized loss on this portfolio of $20 million (at the time of reclassification) increased the balance of accumulated other comprehensive loss $15 million, net of the deferred tax effect, and is subject to future market changes. Proceeds and realized gains or losses from the sale of AFS and HTM securities were as follows. Nine Months Ended September 30, (in thousands) 2024 2023 Securities AFS: Gross gains $ 1,038 $ 268 Gross losses (70) (605) Gains (losses) on sales of securities AFS, net $ 968 $ (337) Proceeds from sales of securities AFS $ 4,987 $ 28,992 Securities HTM: Gross gains $ — $ — Gross losses — (37,723) Gains (losses) on sales of securities HTM, net $ — $ (37,723) Proceeds from sales of securities HTM $ — $ 460,051 All mortgage-backed securities included in the securities portfolio were issued by U.S. government agencies and corporations. Investment securities with a carrying value of $323 million and $364 million, as of September 30, 2024 and December 31, 2023, 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 investment securities totaled $5 million at both September 30, 2024 and December 31, 2023, and is included in accrued interest receivable and other assets on the consolidated balance sheets. The following table presents gross unrealized losses and the related estimated fair value of investment securities for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position. September 30, 2024 Less than 12 months 12 months or more Total ($ in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Number of Securities AFS: U.S. Treasury securities $ — $ — $ 14,460 $ 1,384 $ 14,460 $ 1,384 1 U.S. government agency securities 398 1 3,861 25 4,259 26 8 State, county and municipals 14,176 200 242,711 19,226 256,887 19,426 446 Mortgage-backed securities 9,737 78 275,572 26,726 285,309 26,804 410 Corporate debt securities 1,962 24 71,747 5,555 73,709 5,579 47 Total $ 26,273 $ 303 $ 608,351 $ 52,916 $ 634,624 $ 53,219 912 December 31, 2023 Less than 12 months 12 months or more Total ($ in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Number of Securities AFS: U.S. Treasury securities $ — $ — $ 14,123 $ 1,865 $ 14,123 $ 1,865 1 U.S. government agency securities 4,621 31 1,793 15 6,414 46 10 State, county and municipals 29,336 330 257,916 25,995 287,252 26,325 528 Mortgage-backed securities 6 — 291,124 37,193 291,130 37,193 433 Corporate debt securities — — 85,265 9,299 85,265 9,299 59 Total $ 33,963 $ 361 $ 650,221 $ 74,367 $ 684,184 $ 74,728 1,031 During first quarter 2023, the Company recognized provision expense of $2.3 million related to the expected credit loss on a bank subordinated debt investment (acquired in an acquisition), and immediately charged-off the full investment. The Company does not consider its remaining 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 AFS securities 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 September 30, 2024 and December 31, 2023, no allowance for credit losses on AFS securities was recognized. 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 September 30, 2024 Securities AFS (in thousands) Amortized Cost Fair Value Due in less than one year $ 23,894 $ 23,735 Due in one year through five years 144,376 135,855 Due after five years through ten years 162,293 150,189 Due after ten years 97,311 92,318 427,874 402,097 Mortgage-backed securities 446,648 423,810 Total investment securities $ 874,522 $ 825,907 Other Investments Other investments include “restricted” equity securities, equity securities with readily determinable fair values, and private company securities. As a member of the Federal Reserve Bank System and the Federal Home Loan Bank (“FHLB”) System, Nicolet 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. The carrying value of other investments are summarized as follows. September 30, 2024 December 31, 2023 (in thousands) Amount Amount Federal Reserve Bank stock $ 33,289 $ 33,087 Federal Home Loan Bank (“FHLB”) stock 9,674 9,674 Equity securities with readily determinable fair values 8,174 4,240 Other investments 9,306 10,559 Total other investments $ 60,443 $ 57,560

Loans, Allowance for Credit Los

Loans, Allowance for Credit Losses - Loans, and Credit Quality	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Loans, Allowance for Credit Losses - Loans, and Credit Quality	Loans, Allowance for Credit Losses - Loans, and Credit Quality The loan composition is summarized as follows. September 30, 2024 December 31, 2023 (in thousands) Amount % of Amount % of Commercial & industrial $ 1,351,516 21 % $ 1,284,009 20 % Owner-occupied commercial real estate (“CRE”) 920,533 14 956,594 15 Agricultural 1,261,152 19 1,161,531 18 CRE investment 1,226,982 19 1,142,251 18 Construction & land development 231,694 3 310,110 5 Residential construction 85,811 2 75,726 1 Residential first mortgage 1,194,574 18 1,167,109 19 Residential junior mortgage 223,456 3 200,884 3 Retail & other 61,122 1 55,728 1 Loans 6,556,840 100 % 6,353,942 100 % Less allowance for credit losses - Loans (“ACL-Loans”) 65,785 63,610 Loans, net $ 6,491,055 $ 6,290,332 Allowance for credit losses - Loans to loans 1.00 % 1.00 % Accrued interest on loans totaled $21 million and $19 million at September 30, 2024 and December 31, 2023, 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 is summarized as follows. Three Months Ended Nine Months Ended Year Ended (in thousands) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 December 31, 2023 Beginning balance $ 65,414 $ 62,811 $ 63,610 $ 61,829 $ 61,829 Provision for credit losses 750 450 2,850 1,650 2,650 Charge-offs (475) (346) (1,066) (1,091) (1,653) Recoveries 96 245 391 772 784 Net (charge-offs) recoveries (379) (101) (675) (319) (869) Ending balance $ 65,785 $ 63,160 $ 65,785 $ 63,160 $ 63,610 The following tables present the balance and activity in the ACL-Loans by portfolio segment. Nine Months Ended September 30, 2024 (in thousands) Commercial Owner- Agricultural CRE Construction & land Residential Residential Residential Retail Total ACL-Loans Beginning balance $ 15,225 $ 9,082 $ 12,629 $ 12,693 $ 2,440 $ 916 $ 7,320 $ 2,098 $ 1,207 $ 63,610 Provision 1,964 (3,446) (1,072) 1,151 (94) 50 3,824 420 53 2,850 Charge-offs (572) (120) — — — — — — (374) (1,066) Recoveries 47 227 — — — — 32 8 77 391 Net (charge-offs) recoveries (525) 107 — — — — 32 8 (297) (675) Ending balance $ 16,664 $ 5,743 $ 11,557 $ 13,844 $ 2,346 $ 966 $ 11,176 $ 2,526 $ 963 $ 65,785 As % of ACL-Loans 25 % 9 % 18 % 21 % 4 % 1 % 17 % 4 % 1 % 100 % Year Ended December 31, 2023 (in thousands) Commercial Owner- Agricultural CRE Construction Residential Residential Residential Retail & ACL-Loans Beginning balance $ 16,350 $ 9,138 $ 9,762 $ 12,744 $ 2,572 $ 1,412 $ 6,976 $ 1,846 $ 1,029 $ 61,829 Provision (1,205) 470 2,930 (51) (132) (496) 346 347 441 2,650 Charge-offs (440) (773) (66) — — — (5) (96) (273) (1,653) Recoveries 520 247 3 — — — 3 1 10 784 Net (charge-offs) recoveries 80 (526) (63) — — — (2) (95) (263) (869) Ending balance $ 15,225 $ 9,082 $ 12,629 $ 12,693 $ 2,440 $ 916 $ 7,320 $ 2,098 $ 1,207 $ 63,610 As % of ACL-Loans 24 % 14 % 20 % 20 % 4 % — % 12 % 4 % 2 % 100 % The ACL-Loans represents management’s estimate of expected credit losses in the Company’s loan portfolio at the balance sheet date. To assess the appropriateness of the ACL-Loans, management applies an allocation methodology which focuses on evaluation of qualitative and environmental factors, including but not limited to: (i) evaluation of facts and issues related to specific loans; (ii) management’s ongoing review and grading of the loan portfolio; (iii) consideration of historical loan loss and delinquency experience on each portfolio segment; (iv) trends in past due and nonperforming loans; (v) the risk characteristics of the various loan segments; (vi) changes in the size and character of the loan portfolio; (vii) concentrations of loans to specific borrowers or industries; (viii) existing economic conditions; (ix) the fair value of underlying collateral; and (x) other qualitative and quantitative factors which could affect expected credit losses. Assessing these numerous factors involves significant judgment. Management allocates the ACL-Loans by pools of risk within each loan portfolio segment. The allocation methodology consists of the following components. First, a specific reserve is established for individually evaluated credit-deteriorated loans, which management defines as nonaccrual credit relationships over $250,000, collateral dependent loans, purchased credit deteriorated 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. Management allocates the ACL-Loans with historical loss rates by loan segment. The loss factors are measured on a quarterly basis and applied to each loan segment based on current loan balances and projected for their expected remaining life. Next, management allocates the ACL-Loans using the qualitative factors mentioned above. Consideration is given to those current qualitative or environmental factors that are likely to cause estimated credit losses as of the evaluation date to differ from the historical loss experience of each loan segment. Lastly, management considers reasonable and supportable forecasts to assess the collectability of future cash flows. Allowance for Credit Losses-Unfunded Commitments : In addition to the ACL-Loans, the Company has established an ACL-Unfunded commitments, classified in accrued interest payable and other liabilities on the consolidated balance sheets. This reserve 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. The reserve for unfunded commitments was $3.0 million at both September 30, 2024 and December 31, 2023. 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. See Note 4 for additional information regarding the ACL related to investment securities. The following table presents the components of the provision for credit losses. Three Months Ended Nine Months Ended Year Ended (in thousands) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 December 31, 2023 Provision for credit losses on: Loans $ 750 $ 450 $ 2,850 $ 1,650 $ 2,650 Unfunded commitments — — — — — Investment securities — — — 2,340 2,340 Total $ 750 $ 450 $ 2,850 $ 3,990 $ 4,990 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 estimated 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 tables present collateral dependent loans by portfolio segment and collateral type, including those loans with and without a related allowance allocation. September 30, 2024 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 4,966 $ 4,966 $ 721 $ 4,245 $ 1,056 Owner-occupied CRE 3,286 — 3,286 2,767 519 114 Agricultural 6,072 3,907 9,979 4,939 5,040 35 CRE investment 1,508 — 1,508 1,508 — — Retail & other — 16 16 — 16 2 Total loans $ 10,866 $ 8,889 $ 19,755 $ 9,935 $ 9,820 $ 1,207 December 31, 2023 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 2,576 $ 2,576 $ 2,164 $ 412 $ 196 Owner-occupied CRE 3,614 — 3,614 3,465 149 24 Agricultural 6,931 5,219 12,150 7,261 4,889 117 CRE investment 1,261 — 1,261 871 390 18 Residential first mortgage 674 — 674 674 — — Total loans $ 12,480 $ 7,795 $ 20,275 $ 14,435 $ 5,840 $ 355 Past Due and Nonaccrual Loans : The following tables present past due loans by portfolio segment. September 30, 2024 (in thousands) 30-89 Days Past 90 Days & Over or nonaccrual Current Total Commercial & industrial $ 729 $ 5,658 $ 1,345,129 $ 1,351,516 Owner-occupied CRE 1,276 4,104 915,153 920,533 Agricultural 140 10,280 1,250,732 1,261,152 CRE investment 1,018 1,747 1,224,217 1,226,982 Construction & land development — — 231,694 231,694 Residential construction — — 85,811 85,811 Residential first mortgage 1,523 3,478 1,189,573 1,194,574 Residential junior mortgage 249 184 223,023 223,456 Retail & other 662 114 60,346 61,122 Total loans $ 5,597 $ 25,565 $ 6,525,678 $ 6,556,840 Percent of total loans 0.1 % 0.4 % 99.5 % 100.0 % December 31, 2023 (in thousands) 30-89 Days Past 90 Days & Over or nonaccrual Current Total Commercial & industrial $ 540 $ 4,046 $ 1,279,423 $ 1,284,009 Owner-occupied CRE 2,123 4,399 950,072 956,594 Agricultural 12 12,185 1,149,334 1,161,531 CRE investment 3,060 1,453 1,137,738 1,142,251 Construction & land development 171 161 309,778 310,110 Residential construction — — 75,726 75,726 Residential first mortgage 2,663 4,059 1,160,387 1,167,109 Residential junior mortgage 547 150 200,187 200,884 Retail & other 327 172 55,229 55,728 Total loans $ 9,443 $ 26,625 $ 6,317,874 $ 6,353,942 Percent of total loans 0.1 % 0.4 % 99.5 % 100.0 % The following table presents nonaccrual loans by portfolio segment. September 30, 2024 December 31, 2023 (in thousands) Nonaccrual Loans % of Total Nonaccrual Loans % of Total Commercial & industrial $ 5,658 21 % $ 4,046 15 % Owner-occupied CRE 4,104 17 4,399 16 Agricultural 10,280 40 12,185 46 CRE investment 1,747 7 1,453 5 Construction & land development — — 161 1 Residential construction — — — — Residential first mortgage 3,478 14 4,059 15 Residential junior mortgage 184 1 150 1 Retail & other 114 — 172 1 Nonaccrual loans $ 25,565 100 % $ 26,625 100 % Percent of total loans 0.4 % 0.4 % Credit Quality Information : The following tables present total loans by risk categories and gross charge-offs by year of origination. Acquired loans have been included based upon the actual origination date. September 30, 2024 Amortized Cost Basis by Origination Year (in thousands) 2024 2023 2022 2021 2020 Prior Revolving Revolving to Term TOTAL Commercial & industrial Grades 1-4 $ 172,869 $ 194,434 $ 188,220 $ 135,571 $ 48,365 $ 86,483 $ 392,908 $ — $ 1,218,850 Grade 5 1,142 2,335 13,621 10,148 2,198 7,628 51,795 — 88,867 Grade 6 780 1,311 1,508 146 168 1,696 14,132 — 19,741 Grade 7 363 5,339 4,145 1,133 1,829 9,405 1,844 — 24,058 Total $ 175,154 $ 203,419 $ 207,494 $ 146,998 $ 52,560 $ 105,212 $ 460,679 $ — $ 1,351,516 Current period gross charge-offs $ — $ (50) $ (57) $ (26) $ (39) $ (340) $ (60) $ — $ (572) Owner-occupied CRE Grades 1-4 $ 61,878 $ 102,673 $ 154,656 $ 160,818 $ 82,119 $ 277,630 $ 2,412 $ — $ 842,186 Grade 5 1,376 7,625 4,964 7,920 3,106 27,018 450 — 52,459 Grade 6 — — — 3,794 — 6,053 — — 9,847 Grade 7 — 883 2,413 1,586 6,880 4,279 — — 16,041 Total $ 63,254 $ 111,181 $ 162,033 $ 174,118 $ 92,105 $ 314,980 $ 2,862 $ — $ 920,533 Current period gross charge-offs $ — $ — $ (90) $ — $ — $ (30) $ — $ — $ (120) Agricultural Grades 1-4 $ 141,054 $ 149,698 $ 268,568 $ 126,698 $ 73,634 $ 151,364 $ 256,920 $ — $ 1,167,936 Grade 5 6,753 5,436 3,685 4,113 1,707 22,455 9,661 — 53,810 Grade 6 1,738 135 36 354 — 2,143 1,312 — 5,718 Grade 7 599 2,449 6,445 5,907 475 13,693 4,120 — 33,688 Total $ 150,144 $ 157,718 $ 278,734 $ 137,072 $ 75,816 $ 189,655 $ 272,013 $ — $ 1,261,152 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — CRE investment Grades 1-4 $ 66,868 $ 49,722 $ 246,475 $ 238,220 $ 163,245 $ 368,630 $ 8,919 $ — $ 1,142,079 Grade 5 6,605 4,225 11,142 14,618 8,100 31,183 34 — 75,907 Grade 6 — — — — — — — — — Grade 7 — — — — — 8,996 — — 8,996 Total $ 73,473 $ 53,947 $ 257,617 $ 252,838 $ 171,345 $ 408,809 $ 8,953 $ — $ 1,226,982 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Construction & land development Grades 1-4 $ 56,619 $ 44,885 $ 48,280 $ 58,032 $ 9,594 $ 8,496 $ 1,875 $ — $ 227,781 Grade 5 — — 34 2,987 — 493 — — 3,514 Grade 6 — — — — — — — — — Grade 7 — 44 355 — — — — — 399 Total $ 56,619 $ 44,929 $ 48,669 $ 61,019 $ 9,594 $ 8,989 $ 1,875 $ — $ 231,694 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential construction Grades 1-4 $ 52,532 $ 25,735 $ 4,505 $ 1,727 $ 136 $ 442 $ 734 $ — $ 85,811 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 52,532 $ 25,735 $ 4,505 $ 1,727 $ 136 $ 442 $ 734 $ — $ 85,811 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential first mortgage Grades 1-4 $ 101,637 $ 178,551 $ 358,404 $ 225,066 $ 120,743 $ 193,328 $ 488 $ 1 $ 1,178,218 Grade 5 160 320 1,573 1,192 775 4,404 — — 8,424 Grade 6 — — — 70 — 74 — — 144 Grade 7 45 71 1,852 2,272 498 3,050 — — 7,788 Total $ 101,842 $ 178,942 $ 361,829 $ 228,600 $ 122,016 $ 200,856 $ 488 $ 1 $ 1,194,574 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential junior mortgage Grades 1-4 $ 11,013 $ 9,570 $ 5,985 $ 2,852 $ 3,756 $ 5,822 $ 178,263 $ 5,588 $ 222,849 Grade 5 — — 67 — — — 25 — 92 Grade 6 — — — — — — — — — Grade 7 — 29 — 197 — 61 228 — 515 Total $ 11,013 $ 9,599 $ 6,052 $ 3,049 $ 3,756 $ 5,883 $ 178,516 $ 5,588 $ 223,456 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Retail & other Grades 1-4 $ 7,909 $ 5,253 $ 5,930 $ 3,752 $ 1,603 $ 5,310 $ 31,247 $ — $ 61,004 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — 87 — 28 3 — — — 118 Total $ 7,909 $ 5,340 $ 5,930 $ 3,780 $ 1,606 $ 5,310 $ 31,247 $ — $ 61,122 Current period gross charge-offs $ (2) $ (72) $ (9) $ (7) $ — $ (82) $ (202) $ — $ (374) Total loans $ 691,940 $ 790,810 $ 1,332,863 $ 1,009,201 $ 528,934 $ 1,240,136 $ 957,367 $ 5,589 $ 6,556,840 December 31, 2023 Amortized Cost Basis by Origination Year (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Revolving to Term TOTAL Commercial & industrial Grades 1-4 $ 223,515 $ 234,193 $ 171,555 $ 66,026 $ 49,054 $ 81,272 $ 359,284 $ — $ 1,184,899 Grade 5 3,252 13,656 7,516 3,388 5,074 7,020 18,753 — 58,659 Grade 6 — 562 502 187 3 1,009 10,974 — 13,237 Grade 7 5,742 3,702 2,655 2,409 1,769 9,244 1,693 — 27,214 Total $ 232,509 $ 252,113 $ 182,228 $ 72,010 $ 55,900 $ 98,545 $ 390,704 $ — $ 1,284,009 Current period gross charge-offs $ — $ (89) $ (114) $ — $ — $ (222) $ (15) $ — $ (440) Owner-occupied CRE Grades 1-4 $ 114,704 $ 156,723 $ 181,128 $ 91,038 $ 85,430 $ 247,730 $ 4,181 $ — $ 880,934 Grade 5 5,416 4,024 7,858 5,092 3,994 27,585 52 — 54,021 Grade 6 — — 3,905 — 1,531 12 — — 5,448 Grade 7 — 1,304 1,071 6,988 338 6,340 150 — 16,191 Total $ 120,120 $ 162,051 $ 193,962 $ 103,118 $ 91,293 $ 281,667 $ 4,383 $ — $ 956,594 Current period gross charge-offs $ — $ — $ — $ — $ — $ (773) $ — $ — $ (773) Agricultural Grades 1-4 $ 120,200 $ 274,491 $ 134,706 $ 78,944 $ 22,985 $ 139,212 $ 277,170 $ — $ 1,047,708 Grade 5 6,345 11,975 5,718 703 394 33,658 15,522 — 74,315 Grade 6 — 130 1,017 — 51 2,256 194 — 3,648 Grade 7 2,519 6,691 5,360 428 1,679 12,098 7,085 — 35,860 Total $ 129,064 $ 293,287 $ 146,801 $ 80,075 $ 25,109 $ 187,224 $ 299,971 $ — $ 1,161,531 Current period gross charge-offs $ — $ — $ — $ — $ — $ (66) $ — $ — $ (66) CRE investment Grades 1-4 $ 30,720 $ 194,442 $ 256,765 $ 169,078 $ 113,510 $ 283,339 $ 11,146 $ — $ 1,059,000 Grade 5 2,790 7,746 17,899 9,857 11,232 23,108 49 — 72,681 Grade 6 — — — — — 1,340 65 — 1,405 Grade 7 — 51 21 — 1,034 8,059 — — 9,165 Total $ 33,510 $ 202,239 $ 274,685 $ 178,935 $ 125,776 $ 315,846 $ 11,260 $ — $ 1,142,251 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Construction & land development Grades 1-4 $ 51,253 $ 149,155 $ 64,761 $ 9,441 $ 4,939 $ 22,548 $ 2,883 $ — $ 304,980 Grade 5 — 23 3,044 1,264 504 88 — — 4,923 Grade 6 — — — — — — — — — Grade 7 46 — — — — 86 75 — 207 Total $ 51,299 $ 149,178 $ 67,805 $ 10,705 $ 5,443 $ 22,722 $ 2,958 $ — $ 310,110 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential construction Grades 1-4 $ 57,033 $ 13,035 $ 3,316 $ 1,118 $ 130 $ 1,094 $ — $ — $ 75,726 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 57,033 $ 13,035 $ 3,316 $ 1,118 $ 130 $ 1,094 $ — $ — $ 75,726 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential first mortgage Grades 1-4 $ 164,917 $ 389,246 $ 247,957 $ 130,857 $ 56,223 $ 162,424 $ 887 $ 2 $ 1,152,513 Grade 5 — 1,286 1,088 1,250 2,239 2,913 — — 8,776 Grade 6 — — — — — — — — — Grade 7 28 392 616 388 1,117 3,279 — — 5,820 Total $ 164,945 $ 390,924 $ 249,661 $ 132,495 $ 59,579 $ 168,616 $ 887 $ 2 $ 1,167,109 Current period gross charge-offs $ — $ — $ — $ — $ — $ (5) $ — $ — $ (5) Residential junior mortgage Grades 1-4 $ 14,020 $ 7,277 $ 4,053 $ 4,187 $ 2,753 $ 3,909 $ 157,960 $ 6,342 $ 200,501 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 31 31 202 — — 27 92 — 383 Total $ 14,051 $ 7,308 $ 4,255 $ 4,187 $ 2,753 $ 3,936 $ 158,052 $ 6,342 $ 200,884 Current period gross charge-offs $ — $ — $ — $ — $ — $ (96) $ — $ — $ (96) Retail & other Grades 1-4 $ 8,207 $ 8,107 $ 5,345 $ 2,434 $ 1,689 $ 3,869 $ 25,891 $ — $ 55,542 Grade 5 — — 38 — — — — — 38 Grade 6 — — — — — — — — — Grade 7 31 — 25 8 19 65 — — 148 Total $ 8,238 $ 8,107 $ 5,408 $ 2,442 $ 1,708 $ 3,934 $ 25,891 $ — $ 55,728 Current period gross charge-offs $ (7) $ (1) $ — $ (1) $ — $ (52) $ (212) $ — $ (273) Total loans $ 810,769 $ 1,478,242 $ 1,128,121 $ 585,085 $ 367,691 $ 1,083,584 $ 894,106 $ 6,344 $ 6,353,942 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. Modifications to Borrowers Experiencing Financial Difficulty : The following table presents the amortized cost of loans that were made to borrowers experiencing financial difficulty and were modified during the nine months ended September 30, 2024 and September 30, 2023, respectively, aggregated by portfolio segment and type of modification. (in thousands) Payment Delay Term Extension Interest Rate Reduction Term Extension & Interest Rate Reduction Total % of Total Loans Nine Months Ended September 30, 2024 Commercial & industrial $ — $ — $ — $ — $ — — % Owner-occupied CRE 1,521 — — — 1,521 0.17 % Agricultural — — — — — — % CRE investment — — — — — — % Total $ 1,521 $ — $ — $ — $ 1,521 0.02 % Nine Months Ended September 30, 2023 Commercial & industrial $ 433 $ — $ 87 $ — $ 520 0.04 % Owner-occupied CRE — — — — — — % Agricultural 107 — — — 107 0.01 % CRE investment — — — — — — % Total $ 540 $ — $ 87 $ — $ 627 0.01 % The loans presented in the table above have had more than insignificant payment delays (which the Company has defined as payment delays in excess of three months). These modified loans are closely monitored by the Company to understand the effectiveness of its modification efforts, and such loans generally remain in nonaccrual status pending a sustained period of performance in accordance with the modified terms. As of September 30, 2024 and December 31, 2023, there were no loans made to borrowers experiencing financial difficulty that were modified during the current period and subsequently defaulted, and there were no commitments to lend additional funds to such debtors.

Goodwill and Other Intangibles

Goodwill and Other Intangibles and Servicing Rights	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles and Servicing Rights	Goodwill and Other Intangibles and Servicing Rights Management periodically reviews the carrying value of its intangible assets to determine if any impairment has occurred, in which case an impairment charge would be recorded as an expense in the period of impairment, or whether changes in circumstances have occurred that would require a revision to the remaining useful life that would affect 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 of the underlying operations or assets which give rise to the intangible. Management also regularly monitors economic factors for potential impairment indications on the value of our franchise, stability of deposits, and the wealth client base, underlying our goodwill and other intangibles. Management concluded no impairment was indicated for the nine months ended September 30, 2024 and the year ended December 31, 2023. A summary of goodwill and other intangibles was as follows. (in thousands) September 30, 2024 December 31, 2023 Goodwill $ 367,387 $ 367,387 Core deposit intangibles 20,258 25,112 Customer list intangibles 2,082 1,867 Other intangibles 22,340 26,979 Goodwill and other intangibles, net $ 389,727 $ 394,366 Other intangible assets : Other intangible assets, consisting of core deposit intangibles and customer list intangibles, are amortized over their estimated finite lives. During first quarter 2024, Nicolet purchased a financial advisory book of business and established a corresponding customer list intangible. A summary of other intangible assets was as follows. Nine Months Ended Year Ended (in thousands) September 30, 2024 December 31, 2023 Core deposit intangibles: Gross carrying amount $ 60,724 $ 60,724 Accumulated amortization (40,466) (35,612) Net book value $ 20,258 $ 25,112 Additions during the period $ — $ — Amortization during the period $ 4,854 $ 7,589 Customer list intangibles: Gross carrying amount $ 6,173 $ 5,523 Accumulated amortization (4,091) (3,656) Net book value $ 2,082 $ 1,867 Additions during the period $ 650 $ — Amortization during the period $ 435 $ 483 Mortgage servicing rights (“MSR”) : Mortgage servicing rights are amortized in proportion to and over the period of estimated net servicing income, and assessed for impairment at each reporting date, with the amortization recorded in mortgage income, net, in the consolidated statements of income. Mortgage servicing rights are carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value, and are included in other assets in the consolidated balance sheets. 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). A summary of the changes in the mortgage servicing rights asset was as follows. Nine Months Ended Year Ended (in thousands) September 30, 2024 December 31, 2023 Mortgage servicing rights asset: MSR asset at beginning of year $ 11,655 $ 13,080 Capitalized MSR 1,758 1,540 Amortization during the period (2,386) (2,965) MSR asset at end of period $ 11,027 $ 11,655 Valuation allowance at beginning of year $ — $ (500) Additions (120) — Reversals — 500 Valuation allowance at end of period $ (120) $ — MSR asset, net $ 10,907 $ 11,655 Fair value of MSR asset at end of period $ 18,428 $ 16,810 Residential mortgage loans serviced for others $ 1,627,211 $ 1,609,395 Net book value of MSR asset to loans serviced for others 0.67 % 0.72 % Loan servicing rights (“LSR”) : The Company acquired an LSR asset in December 2021 which 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 were as follows. Nine Months Ended Year Ended (in thousands) September 30, 2024 December 31, 2023 Loan servicing rights asset: LSR asset at beginning of year $ 8,831 $ 11,039 Amortization during the period (1,472) (2,208) LSR asset at end of period $ 7,359 $ 8,831 Agricultural loans serviced for others $ 459,245 $ 492,137 The following table shows the estimated future amortization expense for amortizing intangible assets and the servicing assets. The projections are based on existing asset balances, the current interest rate environment and estimated prepayment speeds as of September 30, 2024. 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 Year ending December 31, 2024 (remaining three months) $ 1,444 $ 145 $ 692 $ 490 2025 5,161 579 2,214 1,717 2026 3,983 379 1,583 1,472 2027 3,218 296 1,582 1,227 2028 2,622 296 1,581 981 2029 1,911 166 1,569 736 Thereafter 1,919 221 1,806 736 Total $ 20,258 $ 2,082 $ 11,027 $ 7,359

Short and Long-Term Borrowings

Short and Long-Term Borrowings	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Short and Long-Term Borrowings	Short and Long-Term Borrowings Short-Term Borrowings: Short-term borrowings include any borrowing with an original maturity of one year or less. The Company did not have any short-term borrowings outstanding at either September 30, 2024 or December 31, 2023. Long-Term Borrowings: Long-term borrowings include any borrowing with an original maturity greater than one year. The components of long-term borrowings were as follows. (in thousands) September 30, 2024 December 31, 2023 FHLB advances $ 5,000 $ 5,000 Junior subordinated debentures 41,176 40,552 Subordinated notes 115,034 121,378 Total long-term borrowings $ 161,210 $ 166,930 FHLB Advances : The Federal Home Loan Bank (“FHLB”) advance bears a fixed rate, requires interest-only monthly payments, and has a maturity date of March 2025. The weighted average rate of the FHLB advance was 1.55% at both September 30, 2024 and December 31, 2023. 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 both September 30, 2024 and December 31, 2023, approximately $39 million 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. The Company repurchased and retired approximately $6 million of these Notes during 2024. In December 2021, as the result of an acquisition, Nicolet assumed $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 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, and are discounted in accordance with regulations when the debt has five years or less remaining to maturity. The following table shows the breakdown of junior subordinated debentures and subordinated notes. As of September 30, 2024 As of December 31, 2023 (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 6.64 % $ 10,310 $ (2,226) $ 8,084 7.08 % $ 7,930 Baylake Capital Trust II (3) 9/30/2036 6.22 % 16,598 (2,760) 13,838 6.94 % 13,660 First Menasha Statutory Trust (4) 3/17/2034 7.99 % 5,155 (410) 4,745 8.43 % 4,712 County Bancorp Statutory Trust II (5) 9/15/2035 6.74 % 6,186 (639) 5,547 7.18 % 5,433 County Bancorp Statutory Trust III (6) 6/15/2036 6.90 % 6,186 (697) 5,489 7.34 % 5,375 Fox River Valley Capital Trust (7) 5/30/2033 7.89 % 3,610 (137) 3,473 7.89 % 3,442 Total $ 48,045 $ (6,869) $ 41,176 $ 40,552 Subordinated Notes: Subordinated Notes due 2031 7/15/2031 3.13 % $ 92,750 $ (366) $ 92,384 3.13 % $ 98,476 County Subordinated Notes due 2030 6/30/2030 7.00 % 22,400 250 22,650 7.00 % 22,902 Total $ 115,150 $ (116) $ 115,034 $ 121,378 (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 SOFR 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 SOFR 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 SOFR 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 SOFR 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 SOFR 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 swap rate plus 3.40%, which resets every five years. * The floating rate on this debenture was originally based on three-month LIBOR. Effective with the cessation of LIBOR, the floating rate on this debenture is now based on three-month CME Term SOFR, plus the spread adjustment of 0.26161%.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
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 financial instruments. See Note 5 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) September 30, 2024 December 31, 2023 Commitments to extend credit $ 1,952,931 $ 1,877,327 Financial standby letters of credit 15,988 17,500 Performance standby letters of credit 10,125 11,381 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, and predominantly included commercial lines of credit with 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 $37 million and $33 million, respectively, at September 30, 2024. 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 each totaled $13 million at December 31, 2023. The net fair value of these mortgage derivatives combined was a net gain of $0.2 million and $0.1 million at September 30, 2024 and December 31, 2023, respectively. 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. 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. Although it is not possible to predict the outcome of any of these legal proceedings or the range of possible loss, if any, 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 our financial position or results of operations.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
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 for the periods presented. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Recurring Basis: Total Level 1 Level 2 Level 3 September 30, 2024 U.S. Treasury securities $ 14,460 $ — $ 14,460 $ — U.S. government agency securities 5,894 — 5,894 — State, county and municipals 299,930 — 298,975 955 Mortgage-backed securities 423,810 — 422,876 934 Corporate debt securities 81,813 — 78,057 3,756 Securities AFS $ 825,907 $ — $ 820,262 $ 5,645 Other investments (equity securities) $ 8,174 $ 8,174 $ — $ — Derivative assets $ 224 $ — $ — $ 224 Derivative liabilities $ — $ — $ — $ — December 31, 2023 U.S. Treasury securities $ 14,123 $ — $ 14,123 $ — U.S. government agency securities 7,384 — 7,384 — State, county and municipals 334,822 — 333,401 1,421 Mortgage-backed securities 352,622 — 351,658 964 Corporate debt securities 93,622 — 89,944 3,678 Securities AFS $ 802,573 $ — $ 796,510 $ 6,063 Other investments (equity securities) $ 4,240 $ 4,240 $ — $ — Derivative assets $ 152 $ — $ — $ 152 Derivative liabilities $ 79 $ — $ — $ 79 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 tables above. Securities AFS and Equity Securities : 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 September 30, 2024 and December 31, 2023, it was determined that carrying value was the best approximation of fair value for these Level 3 securities, based primarily on the internal analysis on these securities. Derivatives : The derivative assets and liabilities include mortgage derivatives. The fair value of interest rate lock commitments are determined using the projected sale price of individual loans based on changes in the market interest rates, projected pull-through rates (the probability that an interest rate lock commitment will ultimately result in an originated loan), the reduction in the value of the applicant’s option due to the passage of time, and the remaining origination costs to be incurred based on management’s estimate of market costs. The fair value of forward commitments are determined using quoted prices of to-be-announced securities in active markets, or benchmarked to such securities. The derivative assets and liabilities are classified within Level 3 of the hierarchy. The following table presents the changes in Level 3 securities AFS measured at fair value on a recurring basis. (in thousands) Nine Months Ended Year Ended Level 3 Fair Value Measurements: September 30, 2024 December 31, 2023 Balance at beginning of year $ 6,063 $ 8,153 Maturities / Paydowns (496) (2,425) Unrealized gain / (loss) 78 335 Balance at end of period $ 5,645 $ 6,063 Nonrecurring basis fair value measurements: The following table presents the Company’s assets measured at fair value on a nonrecurring basis, aggregated by level in the fair value hierarchy within which those measurements fall. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Nonrecurring Basis: Total Level 1 Level 2 Level 3 September 30, 2024 Collateral dependent loans $ 18,548 $ — $ — $ 18,548 MSR asset (disclosure) 18,428 — — 18,428 December 31, 2023 Collateral dependent loans $ 19,920 $ — $ — $ 19,920 MSR asset (disclosure) 16,810 — — 16,810 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 estimated 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 with consideration for estimated selling costs if satisfaction of the loan depends on the sale of the collateral, or the estimated liquidity of the note. 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. September 30, 2024 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 427,984 $ 427,984 $ 427,984 $ — $ — Certificates of deposit in other banks 3,189 3,171 — 3,171 — Securities AFS 825,907 825,907 — 820,262 5,645 Other investments, including equity securities 60,443 60,443 8,174 44,281 7,988 Loans held for sale 11,121 11,416 — 11,416 — Loans, net 6,491,055 6,410,902 — — 6,410,902 MSR asset 10,907 18,428 — — 18,428 LSR asset 7,359 7,359 — — 7,359 Accrued interest receivable 25,946 25,946 25,946 — — Financial liabilities: Deposits $ 7,259,997 $ 7,265,074 $ — $ — $ 7,265,074 Long-term borrowings 161,210 146,140 — 4,933 141,207 Accrued interest payable 7,907 7,907 7,907 — — December 31, 2023 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 491,431 $ 491,431 $ 491,431 $ — $ — Certificates of deposit in other banks 6,374 6,293 — 6,293 — Securities AFS 802,573 802,573 — 796,510 6,063 Other investments 57,560 57,560 4,240 44,010 9,310 Loans held for sale 4,160 4,276 — 4,276 — Loans, net 6,290,332 6,083,942 — — 6,083,942 MSR asset 11,655 16,810 — — 16,810 LSR asset 8,831 8,831 — — 8,831 Accrued interest receivable 24,237 24,237 24,237 — — Financial liabilities: Deposits $ 7,197,800 $ 7,184,712 $ — $ — $ 7,184,712 Long-term borrowings 166,930 155,179 — 4,820 150,359 Accrued interest payable 7,765 7,765 7,765 — — The valuation methodologies for the financial instruments disclosed in the above table are described in Note 18, Fair Value Measurements, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 32,516	$ 17,158	$ 89,579	$ 30,855

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
General	General In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the consolidated balance sheets, statements of income, comprehensive income (loss), changes in stockholders’ equity, and cash flows of Nicolet Bankshares, Inc. (the “Company” or “Nicolet”) and its subsidiaries, as of and for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions and balances have been eliminated. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the entire year. These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been omitted or abbreviated. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Critical Accounting Policies and Estimates	Critical Accounting Policies and Estimates Preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Material estimates may be used in accounting for, among other items, the allowance for credit losses, valuation of loans in acquisition transactions, useful lives for depreciation and amortization, fair value of financial instruments, impairment calculations, valuation of deferred tax assets, uncertain income tax positions, and contingencies. These estimates and assumptions are based on management’s knowledge of historical experience, current information, and other factors deemed to be relevant; accordingly, as this information changes, actual results could differ from those estimates. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: external market factors such as market interest rates and employment rates, changes to operating policies and procedures, changes in applicable banking or tax regulations, and changes to deferred tax estimates. Nicolet considers accounting estimates to be critical to reported financial results if the accounting estimate requires management to make assumptions about matters that are highly uncertain and different estimates that management reasonably could have used for the accounting estimate in the current period, or changes in the accounting estimate that are reasonably likely to occur from period to period, could have a material impact on the financial statements. The accounting estimates we consider to be critical include business combinations and the valuation of loans acquired, the determination of the allowance for credit losses, and income taxes. There have been no material changes or developments with respect to the assumptions or methodologies that the Company uses when applying critical accounting policies and developing critical accounting estimates as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Recent Accounting Pronouncements Adopted and Future Accounting Pronouncements	Recent Accounting Pronouncements Adopted In March 2023, the FASB issued ASU 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method . This ASU permits reporting entities to elect to account for tax equity investments, regardless of the tax credit program for which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax credits and other income tax benefits received and recognizes the net amortization and income tax credits and other income tax benefits in the income statement as a component of income tax expense. A reporting entity makes an accounting policy election to apply the proportional amortization method on a tax-credit-program-by-tax-credit-program basis rather than electing to apply the proportional amortization method at the reporting entity level or to individual investments. This ASU also requires specific disclosures of investments that generate income tax credits and other income tax benefits from a tax credit program for which the entity has elected to apply the proportional amortization method. The updated guidance is effective for fiscal years beginning after December 15, 2023. Adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. Future Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments in this ASU improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation table, as well as income taxes paid disaggregated by jurisdiction. These expanded disclosures will allow investors to better assess how an entity’s overall operations, including the related tax risks, tax planning, and operational opportunities, affect its income tax rate and prospects for future cash flows. The updated guidance is effective for annual periods beginning after December 15, 2024. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
Allowance for Credit Losses - Loans	The ACL-Loans represents management’s estimate of expected credit losses in the Company’s loan portfolio at the balance sheet date. To assess the appropriateness of the ACL-Loans, management applies an allocation methodology which focuses on evaluation of qualitative and environmental factors, including but not limited to: (i) evaluation of facts and issues related to specific loans; (ii) management’s ongoing review and grading of the loan portfolio; (iii) consideration of historical loan loss and delinquency experience on each portfolio segment; (iv) trends in past due and nonperforming loans; (v) the risk characteristics of the various loan segments; (vi) changes in the size and character of the loan portfolio; (vii) concentrations of loans to specific borrowers or industries; (viii) existing economic conditions; (ix) the fair value of underlying collateral; and (x) other qualitative and quantitative factors which could affect expected credit losses. Assessing these numerous factors involves significant judgment. Management allocates the ACL-Loans by pools of risk within each loan portfolio segment. The allocation methodology consists of the following components. First, a specific reserve is established for individually evaluated credit-deteriorated loans, which management defines as nonaccrual credit relationships over $250,000, collateral dependent loans, purchased credit deteriorated 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. Management allocates the ACL-Loans with historical loss rates by loan segment. The loss factors are measured on a quarterly basis and applied to each loan segment based on current loan balances and projected for their expected remaining life. Next, management allocates the ACL-Loans using the qualitative factors mentioned above. Consideration is given to those current qualitative or environmental factors that are likely to cause estimated credit losses as of the evaluation date to differ from the historical loss experience of each loan segment. Lastly, management considers reasonable and supportable forecasts to assess the collectability of future cash flows.
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

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Common Share	Presented below are the calculations for basic and diluted earnings per common share. Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share data) 2024 2023 2024 2023 Net income $ 32,516 $ 17,158 $ 89,579 $ 30,855 Weighted average common shares outstanding 15,052 14,740 14,966 14,716 Effect of dilutive common stock awards 427 360 364 328 Diluted weighted average common shares outstanding 15,479 15,100 15,330 15,044 Basic earnings per common share* $ 2.16 $ 1.16 $ 5.99 $ 2.10 Diluted earnings per common share* $ 2.10 $ 1.14 $ 5.84 $ 2.05 *Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year to date earnings per share data.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Weighted Average Assumption for Stock Option	The weighted average assumptions used in the Black-Scholes model for valuing stock option grants were as follows. Nine Months Ended September 30, 2024 2023 Dividend yield 1.3 % 1.6 % Expected volatility 30 % 30 % Risk-free interest rate 4.52 % 3.74 % Expected average life 7 years 7 years Weighted average per share fair value of options $ 27.91 $ 20.94
Schedule of Stock Options Activity	A summary of the Company’s stock option activity is summarized below. Stock Options Option Shares Weighted Weighted Average Aggregate Outstanding - December 31, 2023 1,623,088 $ 62.09 Granted 80,000 78.32 Exercise of stock options * (188,438) 48.53 Forfeited (6,700) 74.03 Outstanding - September 30, 2024 1,507,950 $ 64.60 5.0 $ 46,799 Exercisable - September 30, 2024 1,102,193 $ 60.06 4.1 $ 39,203 * The terms of the stock option agreements permit having a number of shares of stock withheld, the fair market value of which as of the date of exercise is sufficient to satisfy the exercise price and/or tax withholding requirements. For the nine months ended September 30, 2024, 2,942 such shares were withheld by the Company.
Schedule of Restricted Stock Activity	A summary of the Company’s restricted stock activity is summarized below. Restricted Stock Weighted Average Grant Restricted Shares Outstanding - December 31, 2023 $ 76.61 57,158 Granted 78.67 18,764 Vested * 77.62 (21,664) Outstanding - September 30, 2024 $ 76.92 54,258 * The terms of the restricted stock agreements permit the surrender of shares to the Company upon vesting in order to satisfy applicable withholding at the minimum statutory withholding rate, and accordingly 4,306 shares were surrendered for the nine months ended September 30, 2024.

Securities and Other Investme_2

Securities and Other Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost and Fair Value of Securities AFS	The amortized cost and fair value of securities AFS are summarized as follows. September 30, 2024 (in thousands) Amortized Cost Gross Gross Estimated Fair Value Securities AFS: U.S. Treasury securities $ 15,844 $ — $ 1,384 $ 14,460 U.S. government agency securities 5,914 6 26 5,894 State, county and municipals 318,878 478 19,426 299,930 Mortgage-backed securities 446,648 3,966 26,804 423,810 Corporate debt securities 87,238 154 5,579 81,813 Total securities AFS $ 874,522 $ 4,604 $ 53,219 $ 825,907 December 31, 2023 (in thousands) Amortized Cost Gross Gross Estimated Fair Value Securities AFS: U.S. Treasury securities $ 15,988 $ — $ 1,865 $ 14,123 U.S. government agency securities 7,430 — 46 7,384 State, county and municipals 360,496 651 26,325 334,822 Mortgage-backed securities 388,378 1,437 37,193 352,622 Corporate debt securities 102,895 26 9,299 93,622 Total securities AFS $ 875,187 $ 2,114 $ 74,728 $ 802,573
Schedule of Proceeds and Realized Gains or Losses from the Sale of AFS and HTM Securities	Proceeds and realized gains or losses from the sale of AFS and HTM securities were as follows. Nine Months Ended September 30, (in thousands) 2024 2023 Securities AFS: Gross gains $ 1,038 $ 268 Gross losses (70) (605) Gains (losses) on sales of securities AFS, net $ 968 $ (337) Proceeds from sales of securities AFS $ 4,987 $ 28,992 Securities HTM: Gross gains $ — $ — Gross losses — (37,723) Gains (losses) on sales of securities HTM, net $ — $ (37,723) Proceeds from sales of securities HTM $ — $ 460,051
Schedule of Unrealized Losses and Fair Value of Investment Securities	The following table presents 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 length of time individual securities have been in a continuous unrealized loss position. September 30, 2024 Less than 12 months 12 months or more Total ($ in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Number of Securities AFS: U.S. Treasury securities $ — $ — $ 14,460 $ 1,384 $ 14,460 $ 1,384 1 U.S. government agency securities 398 1 3,861 25 4,259 26 8 State, county and municipals 14,176 200 242,711 19,226 256,887 19,426 446 Mortgage-backed securities 9,737 78 275,572 26,726 285,309 26,804 410 Corporate debt securities 1,962 24 71,747 5,555 73,709 5,579 47 Total $ 26,273 $ 303 $ 608,351 $ 52,916 $ 634,624 $ 53,219 912 December 31, 2023 Less than 12 months 12 months or more Total ($ in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Number of Securities AFS: U.S. Treasury securities $ — $ — $ 14,123 $ 1,865 $ 14,123 $ 1,865 1 U.S. government agency securities 4,621 31 1,793 15 6,414 46 10 State, county and municipals 29,336 330 257,916 25,995 287,252 26,325 528 Mortgage-backed securities 6 — 291,124 37,193 291,130 37,193 433 Corporate debt securities — — 85,265 9,299 85,265 9,299 59 Total $ 33,963 $ 361 $ 650,221 $ 74,367 $ 684,184 $ 74,728 1,031
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 September 30, 2024 Securities AFS (in thousands) Amortized Cost Fair Value Due in less than one year $ 23,894 $ 23,735 Due in one year through five years 144,376 135,855 Due after five years through ten years 162,293 150,189 Due after ten years 97,311 92,318 427,874 402,097 Mortgage-backed securities 446,648 423,810 Total investment securities $ 874,522 $ 825,907
Schedule of Carrying Value of other Investments	The carrying value of other investments are summarized as follows. September 30, 2024 December 31, 2023 (in thousands) Amount Amount Federal Reserve Bank stock $ 33,289 $ 33,087 Federal Home Loan Bank (“FHLB”) stock 9,674 9,674 Equity securities with readily determinable fair values 8,174 4,240 Other investments 9,306 10,559 Total other investments $ 60,443 $ 57,560

Loans, Allowance for Credit L_2

Loans, Allowance for Credit Losses - Loans, and Credit Quality (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of Loan Composition	The loan composition is summarized as follows. September 30, 2024 December 31, 2023 (in thousands) Amount % of Amount % of Commercial & industrial $ 1,351,516 21 % $ 1,284,009 20 % Owner-occupied commercial real estate (“CRE”) 920,533 14 956,594 15 Agricultural 1,261,152 19 1,161,531 18 CRE investment 1,226,982 19 1,142,251 18 Construction & land development 231,694 3 310,110 5 Residential construction 85,811 2 75,726 1 Residential first mortgage 1,194,574 18 1,167,109 19 Residential junior mortgage 223,456 3 200,884 3 Retail & other 61,122 1 55,728 1 Loans 6,556,840 100 % 6,353,942 100 % Less allowance for credit losses - Loans (“ACL-Loans”) 65,785 63,610 Loans, net $ 6,491,055 $ 6,290,332 Allowance for credit losses - Loans to loans 1.00 % 1.00 %
Schedule of Allowance for Credit Losses	A roll forward of the allowance for credit losses - loans is summarized as follows. Three Months Ended Nine Months Ended Year Ended (in thousands) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 December 31, 2023 Beginning balance $ 65,414 $ 62,811 $ 63,610 $ 61,829 $ 61,829 Provision for credit losses 750 450 2,850 1,650 2,650 Charge-offs (475) (346) (1,066) (1,091) (1,653) Recoveries 96 245 391 772 784 Net (charge-offs) recoveries (379) (101) (675) (319) (869) Ending balance $ 65,785 $ 63,160 $ 65,785 $ 63,160 $ 63,610 The following tables present the balance and activity in the ACL-Loans by portfolio segment. Nine Months Ended September 30, 2024 (in thousands) Commercial Owner- Agricultural CRE Construction & land Residential Residential Residential Retail Total ACL-Loans Beginning balance $ 15,225 $ 9,082 $ 12,629 $ 12,693 $ 2,440 $ 916 $ 7,320 $ 2,098 $ 1,207 $ 63,610 Provision 1,964 (3,446) (1,072) 1,151 (94) 50 3,824 420 53 2,850 Charge-offs (572) (120) — — — — — — (374) (1,066) Recoveries 47 227 — — — — 32 8 77 391 Net (charge-offs) recoveries (525) 107 — — — — 32 8 (297) (675) Ending balance $ 16,664 $ 5,743 $ 11,557 $ 13,844 $ 2,346 $ 966 $ 11,176 $ 2,526 $ 963 $ 65,785 As % of ACL-Loans 25 % 9 % 18 % 21 % 4 % 1 % 17 % 4 % 1 % 100 % Year Ended December 31, 2023 (in thousands) Commercial Owner- Agricultural CRE Construction Residential Residential Residential Retail & ACL-Loans Beginning balance $ 16,350 $ 9,138 $ 9,762 $ 12,744 $ 2,572 $ 1,412 $ 6,976 $ 1,846 $ 1,029 $ 61,829 Provision (1,205) 470 2,930 (51) (132) (496) 346 347 441 2,650 Charge-offs (440) (773) (66) — — — (5) (96) (273) (1,653) Recoveries 520 247 3 — — — 3 1 10 784 Net (charge-offs) recoveries 80 (526) (63) — — — (2) (95) (263) (869) Ending balance $ 15,225 $ 9,082 $ 12,629 $ 12,693 $ 2,440 $ 916 $ 7,320 $ 2,098 $ 1,207 $ 63,610 As % of ACL-Loans 24 % 14 % 20 % 20 % 4 % — % 12 % 4 % 2 % 100 %
Schedule of Provision for Credit Losses	The following table presents the components of the provision for credit losses. Three Months Ended Nine Months Ended Year Ended (in thousands) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 December 31, 2023 Provision for credit losses on: Loans $ 750 $ 450 $ 2,850 $ 1,650 $ 2,650 Unfunded commitments — — — — — Investment securities — — — 2,340 2,340 Total $ 750 $ 450 $ 2,850 $ 3,990 $ 4,990
Schedule of Collateral Dependent Loans by Portfolio Segment	The following tables present collateral dependent loans by portfolio segment and collateral type, including those loans with and without a related allowance allocation. September 30, 2024 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 4,966 $ 4,966 $ 721 $ 4,245 $ 1,056 Owner-occupied CRE 3,286 — 3,286 2,767 519 114 Agricultural 6,072 3,907 9,979 4,939 5,040 35 CRE investment 1,508 — 1,508 1,508 — — Retail & other — 16 16 — 16 2 Total loans $ 10,866 $ 8,889 $ 19,755 $ 9,935 $ 9,820 $ 1,207 December 31, 2023 Collateral Type (in thousands) Real Estate Other Business Assets Total Without an Allowance With an Allowance Allowance Allocation Commercial & industrial $ — $ 2,576 $ 2,576 $ 2,164 $ 412 $ 196 Owner-occupied CRE 3,614 — 3,614 3,465 149 24 Agricultural 6,931 5,219 12,150 7,261 4,889 117 CRE investment 1,261 — 1,261 871 390 18 Residential first mortgage 674 — 674 674 — — Total loans $ 12,480 $ 7,795 $ 20,275 $ 14,435 $ 5,840 $ 355
Schedule of Past Due Loans by Portfolio Segment	The following tables present past due loans by portfolio segment. September 30, 2024 (in thousands) 30-89 Days Past 90 Days & Over or nonaccrual Current Total Commercial & industrial $ 729 $ 5,658 $ 1,345,129 $ 1,351,516 Owner-occupied CRE 1,276 4,104 915,153 920,533 Agricultural 140 10,280 1,250,732 1,261,152 CRE investment 1,018 1,747 1,224,217 1,226,982 Construction & land development — — 231,694 231,694 Residential construction — — 85,811 85,811 Residential first mortgage 1,523 3,478 1,189,573 1,194,574 Residential junior mortgage 249 184 223,023 223,456 Retail & other 662 114 60,346 61,122 Total loans $ 5,597 $ 25,565 $ 6,525,678 $ 6,556,840 Percent of total loans 0.1 % 0.4 % 99.5 % 100.0 % December 31, 2023 (in thousands) 30-89 Days Past 90 Days & Over or nonaccrual Current Total Commercial & industrial $ 540 $ 4,046 $ 1,279,423 $ 1,284,009 Owner-occupied CRE 2,123 4,399 950,072 956,594 Agricultural 12 12,185 1,149,334 1,161,531 CRE investment 3,060 1,453 1,137,738 1,142,251 Construction & land development 171 161 309,778 310,110 Residential construction — — 75,726 75,726 Residential first mortgage 2,663 4,059 1,160,387 1,167,109 Residential junior mortgage 547 150 200,187 200,884 Retail & other 327 172 55,229 55,728 Total loans $ 9,443 $ 26,625 $ 6,317,874 $ 6,353,942 Percent of total loans 0.1 % 0.4 % 99.5 % 100.0 %
Schedule of Nonaccrual Loans by Portfolio Segment	The following table presents nonaccrual loans by portfolio segment. September 30, 2024 December 31, 2023 (in thousands) Nonaccrual Loans % of Total Nonaccrual Loans % of Total Commercial & industrial $ 5,658 21 % $ 4,046 15 % Owner-occupied CRE 4,104 17 4,399 16 Agricultural 10,280 40 12,185 46 CRE investment 1,747 7 1,453 5 Construction & land development — — 161 1 Residential construction — — — — Residential first mortgage 3,478 14 4,059 15 Residential junior mortgage 184 1 150 1 Retail & other 114 — 172 1 Nonaccrual loans $ 25,565 100 % $ 26,625 100 % Percent of total loans 0.4 % 0.4 %
Schedule of Loans by Risk Categories and Gross Charge-offs	The following tables present total loans by risk categories and gross charge-offs by year of origination. Acquired loans have been included based upon the actual origination date. September 30, 2024 Amortized Cost Basis by Origination Year (in thousands) 2024 2023 2022 2021 2020 Prior Revolving Revolving to Term TOTAL Commercial & industrial Grades 1-4 $ 172,869 $ 194,434 $ 188,220 $ 135,571 $ 48,365 $ 86,483 $ 392,908 $ — $ 1,218,850 Grade 5 1,142 2,335 13,621 10,148 2,198 7,628 51,795 — 88,867 Grade 6 780 1,311 1,508 146 168 1,696 14,132 — 19,741 Grade 7 363 5,339 4,145 1,133 1,829 9,405 1,844 — 24,058 Total $ 175,154 $ 203,419 $ 207,494 $ 146,998 $ 52,560 $ 105,212 $ 460,679 $ — $ 1,351,516 Current period gross charge-offs $ — $ (50) $ (57) $ (26) $ (39) $ (340) $ (60) $ — $ (572) Owner-occupied CRE Grades 1-4 $ 61,878 $ 102,673 $ 154,656 $ 160,818 $ 82,119 $ 277,630 $ 2,412 $ — $ 842,186 Grade 5 1,376 7,625 4,964 7,920 3,106 27,018 450 — 52,459 Grade 6 — — — 3,794 — 6,053 — — 9,847 Grade 7 — 883 2,413 1,586 6,880 4,279 — — 16,041 Total $ 63,254 $ 111,181 $ 162,033 $ 174,118 $ 92,105 $ 314,980 $ 2,862 $ — $ 920,533 Current period gross charge-offs $ — $ — $ (90) $ — $ — $ (30) $ — $ — $ (120) Agricultural Grades 1-4 $ 141,054 $ 149,698 $ 268,568 $ 126,698 $ 73,634 $ 151,364 $ 256,920 $ — $ 1,167,936 Grade 5 6,753 5,436 3,685 4,113 1,707 22,455 9,661 — 53,810 Grade 6 1,738 135 36 354 — 2,143 1,312 — 5,718 Grade 7 599 2,449 6,445 5,907 475 13,693 4,120 — 33,688 Total $ 150,144 $ 157,718 $ 278,734 $ 137,072 $ 75,816 $ 189,655 $ 272,013 $ — $ 1,261,152 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — CRE investment Grades 1-4 $ 66,868 $ 49,722 $ 246,475 $ 238,220 $ 163,245 $ 368,630 $ 8,919 $ — $ 1,142,079 Grade 5 6,605 4,225 11,142 14,618 8,100 31,183 34 — 75,907 Grade 6 — — — — — — — — — Grade 7 — — — — — 8,996 — — 8,996 Total $ 73,473 $ 53,947 $ 257,617 $ 252,838 $ 171,345 $ 408,809 $ 8,953 $ — $ 1,226,982 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Construction & land development Grades 1-4 $ 56,619 $ 44,885 $ 48,280 $ 58,032 $ 9,594 $ 8,496 $ 1,875 $ — $ 227,781 Grade 5 — — 34 2,987 — 493 — — 3,514 Grade 6 — — — — — — — — — Grade 7 — 44 355 — — — — — 399 Total $ 56,619 $ 44,929 $ 48,669 $ 61,019 $ 9,594 $ 8,989 $ 1,875 $ — $ 231,694 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential construction Grades 1-4 $ 52,532 $ 25,735 $ 4,505 $ 1,727 $ 136 $ 442 $ 734 $ — $ 85,811 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 52,532 $ 25,735 $ 4,505 $ 1,727 $ 136 $ 442 $ 734 $ — $ 85,811 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential first mortgage Grades 1-4 $ 101,637 $ 178,551 $ 358,404 $ 225,066 $ 120,743 $ 193,328 $ 488 $ 1 $ 1,178,218 Grade 5 160 320 1,573 1,192 775 4,404 — — 8,424 Grade 6 — — — 70 — 74 — — 144 Grade 7 45 71 1,852 2,272 498 3,050 — — 7,788 Total $ 101,842 $ 178,942 $ 361,829 $ 228,600 $ 122,016 $ 200,856 $ 488 $ 1 $ 1,194,574 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential junior mortgage Grades 1-4 $ 11,013 $ 9,570 $ 5,985 $ 2,852 $ 3,756 $ 5,822 $ 178,263 $ 5,588 $ 222,849 Grade 5 — — 67 — — — 25 — 92 Grade 6 — — — — — — — — — Grade 7 — 29 — 197 — 61 228 — 515 Total $ 11,013 $ 9,599 $ 6,052 $ 3,049 $ 3,756 $ 5,883 $ 178,516 $ 5,588 $ 223,456 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Retail & other Grades 1-4 $ 7,909 $ 5,253 $ 5,930 $ 3,752 $ 1,603 $ 5,310 $ 31,247 $ — $ 61,004 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — 87 — 28 3 — — — 118 Total $ 7,909 $ 5,340 $ 5,930 $ 3,780 $ 1,606 $ 5,310 $ 31,247 $ — $ 61,122 Current period gross charge-offs $ (2) $ (72) $ (9) $ (7) $ — $ (82) $ (202) $ — $ (374) Total loans $ 691,940 $ 790,810 $ 1,332,863 $ 1,009,201 $ 528,934 $ 1,240,136 $ 957,367 $ 5,589 $ 6,556,840 December 31, 2023 Amortized Cost Basis by Origination Year (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Revolving to Term TOTAL Commercial & industrial Grades 1-4 $ 223,515 $ 234,193 $ 171,555 $ 66,026 $ 49,054 $ 81,272 $ 359,284 $ — $ 1,184,899 Grade 5 3,252 13,656 7,516 3,388 5,074 7,020 18,753 — 58,659 Grade 6 — 562 502 187 3 1,009 10,974 — 13,237 Grade 7 5,742 3,702 2,655 2,409 1,769 9,244 1,693 — 27,214 Total $ 232,509 $ 252,113 $ 182,228 $ 72,010 $ 55,900 $ 98,545 $ 390,704 $ — $ 1,284,009 Current period gross charge-offs $ — $ (89) $ (114) $ — $ — $ (222) $ (15) $ — $ (440) Owner-occupied CRE Grades 1-4 $ 114,704 $ 156,723 $ 181,128 $ 91,038 $ 85,430 $ 247,730 $ 4,181 $ — $ 880,934 Grade 5 5,416 4,024 7,858 5,092 3,994 27,585 52 — 54,021 Grade 6 — — 3,905 — 1,531 12 — — 5,448 Grade 7 — 1,304 1,071 6,988 338 6,340 150 — 16,191 Total $ 120,120 $ 162,051 $ 193,962 $ 103,118 $ 91,293 $ 281,667 $ 4,383 $ — $ 956,594 Current period gross charge-offs $ — $ — $ — $ — $ — $ (773) $ — $ — $ (773) Agricultural Grades 1-4 $ 120,200 $ 274,491 $ 134,706 $ 78,944 $ 22,985 $ 139,212 $ 277,170 $ — $ 1,047,708 Grade 5 6,345 11,975 5,718 703 394 33,658 15,522 — 74,315 Grade 6 — 130 1,017 — 51 2,256 194 — 3,648 Grade 7 2,519 6,691 5,360 428 1,679 12,098 7,085 — 35,860 Total $ 129,064 $ 293,287 $ 146,801 $ 80,075 $ 25,109 $ 187,224 $ 299,971 $ — $ 1,161,531 Current period gross charge-offs $ — $ — $ — $ — $ — $ (66) $ — $ — $ (66) CRE investment Grades 1-4 $ 30,720 $ 194,442 $ 256,765 $ 169,078 $ 113,510 $ 283,339 $ 11,146 $ — $ 1,059,000 Grade 5 2,790 7,746 17,899 9,857 11,232 23,108 49 — 72,681 Grade 6 — — — — — 1,340 65 — 1,405 Grade 7 — 51 21 — 1,034 8,059 — — 9,165 Total $ 33,510 $ 202,239 $ 274,685 $ 178,935 $ 125,776 $ 315,846 $ 11,260 $ — $ 1,142,251 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Construction & land development Grades 1-4 $ 51,253 $ 149,155 $ 64,761 $ 9,441 $ 4,939 $ 22,548 $ 2,883 $ — $ 304,980 Grade 5 — 23 3,044 1,264 504 88 — — 4,923 Grade 6 — — — — — — — — — Grade 7 46 — — — — 86 75 — 207 Total $ 51,299 $ 149,178 $ 67,805 $ 10,705 $ 5,443 $ 22,722 $ 2,958 $ — $ 310,110 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential construction Grades 1-4 $ 57,033 $ 13,035 $ 3,316 $ 1,118 $ 130 $ 1,094 $ — $ — $ 75,726 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 — — — — — — — — — Total $ 57,033 $ 13,035 $ 3,316 $ 1,118 $ 130 $ 1,094 $ — $ — $ 75,726 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential first mortgage Grades 1-4 $ 164,917 $ 389,246 $ 247,957 $ 130,857 $ 56,223 $ 162,424 $ 887 $ 2 $ 1,152,513 Grade 5 — 1,286 1,088 1,250 2,239 2,913 — — 8,776 Grade 6 — — — — — — — — — Grade 7 28 392 616 388 1,117 3,279 — — 5,820 Total $ 164,945 $ 390,924 $ 249,661 $ 132,495 $ 59,579 $ 168,616 $ 887 $ 2 $ 1,167,109 Current period gross charge-offs $ — $ — $ — $ — $ — $ (5) $ — $ — $ (5) Residential junior mortgage Grades 1-4 $ 14,020 $ 7,277 $ 4,053 $ 4,187 $ 2,753 $ 3,909 $ 157,960 $ 6,342 $ 200,501 Grade 5 — — — — — — — — — Grade 6 — — — — — — — — — Grade 7 31 31 202 — — 27 92 — 383 Total $ 14,051 $ 7,308 $ 4,255 $ 4,187 $ 2,753 $ 3,936 $ 158,052 $ 6,342 $ 200,884 Current period gross charge-offs $ — $ — $ — $ — $ — $ (96) $ — $ — $ (96) Retail & other Grades 1-4 $ 8,207 $ 8,107 $ 5,345 $ 2,434 $ 1,689 $ 3,869 $ 25,891 $ — $ 55,542 Grade 5 — — 38 — — — — — 38 Grade 6 — — — — — — — — — Grade 7 31 — 25 8 19 65 — — 148 Total $ 8,238 $ 8,107 $ 5,408 $ 2,442 $ 1,708 $ 3,934 $ 25,891 $ — $ 55,728 Current period gross charge-offs $ (7) $ (1) $ — $ (1) $ — $ (52) $ (212) $ — $ (273) Total loans $ 810,769 $ 1,478,242 $ 1,128,121 $ 585,085 $ 367,691 $ 1,083,584 $ 894,106 $ 6,344 $ 6,353,942
Schedule of Aggregated by Portfolio Segment and Type of Modification	The following table presents the amortized cost of loans that were made to borrowers experiencing financial difficulty and were modified during the nine months ended September 30, 2024 and September 30, 2023, respectively, aggregated by portfolio segment and type of modification. (in thousands) Payment Delay Term Extension Interest Rate Reduction Term Extension & Interest Rate Reduction Total % of Total Loans Nine Months Ended September 30, 2024 Commercial & industrial $ — $ — $ — $ — $ — — % Owner-occupied CRE 1,521 — — — 1,521 0.17 % Agricultural — — — — — — % CRE investment — — — — — — % Total $ 1,521 $ — $ — $ — $ 1,521 0.02 % Nine Months Ended September 30, 2023 Commercial & industrial $ 433 $ — $ 87 $ — $ 520 0.04 % Owner-occupied CRE — — — — — — % Agricultural 107 — — — 107 0.01 % CRE investment — — — — — — % Total $ 540 $ — $ 87 $ — $ 627 0.01 %

Goodwill and Other Intangible_2

Goodwill and Other Intangibles and Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Assets	A summary of goodwill and other intangibles was as follows. (in thousands) September 30, 2024 December 31, 2023 Goodwill $ 367,387 $ 367,387 Core deposit intangibles 20,258 25,112 Customer list intangibles 2,082 1,867 Other intangibles 22,340 26,979 Goodwill and other intangibles, net $ 389,727 $ 394,366
Schedule of Other Intangible Assets	A summary of other intangible assets was as follows. Nine Months Ended Year Ended (in thousands) September 30, 2024 December 31, 2023 Core deposit intangibles: Gross carrying amount $ 60,724 $ 60,724 Accumulated amortization (40,466) (35,612) Net book value $ 20,258 $ 25,112 Additions during the period $ — $ — Amortization during the period $ 4,854 $ 7,589 Customer list intangibles: Gross carrying amount $ 6,173 $ 5,523 Accumulated amortization (4,091) (3,656) Net book value $ 2,082 $ 1,867 Additions during the period $ 650 $ — Amortization during the period $ 435 $ 483
Schedule of Mortgage and Loan Servicing Rights	A summary of the changes in the mortgage servicing rights asset was as follows. Nine Months Ended Year Ended (in thousands) September 30, 2024 December 31, 2023 Mortgage servicing rights asset: MSR asset at beginning of year $ 11,655 $ 13,080 Capitalized MSR 1,758 1,540 Amortization during the period (2,386) (2,965) MSR asset at end of period $ 11,027 $ 11,655 Valuation allowance at beginning of year $ — $ (500) Additions (120) — Reversals — 500 Valuation allowance at end of period $ (120) $ — MSR asset, net $ 10,907 $ 11,655 Fair value of MSR asset at end of period $ 18,428 $ 16,810 Residential mortgage loans serviced for others $ 1,627,211 $ 1,609,395 Net book value of MSR asset to loans serviced for others 0.67 % 0.72 % Nine Months Ended Year Ended (in thousands) September 30, 2024 December 31, 2023 Loan servicing rights asset: LSR asset at beginning of year $ 8,831 $ 11,039 Amortization during the period (1,472) (2,208) LSR asset at end of period $ 7,359 $ 8,831 Agricultural loans serviced for others $ 459,245 $ 492,137
Schedule of Estimated Future Amortization Expense for Amortizing Intangible Assets and the MSR Asset	The following table shows the estimated future amortization expense for amortizing intangible assets and the servicing assets. The projections are based on existing asset balances, the current interest rate environment and estimated prepayment speeds as of September 30, 2024. 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 Year ending December 31, 2024 (remaining three months) $ 1,444 $ 145 $ 692 $ 490 2025 5,161 579 2,214 1,717 2026 3,983 379 1,583 1,472 2027 3,218 296 1,582 1,227 2028 2,622 296 1,581 981 2029 1,911 166 1,569 736 Thereafter 1,919 221 1,806 736 Total $ 20,258 $ 2,082 $ 11,027 $ 7,359

Short and Long-Term Borrowings

Short and Long-Term Borrowings (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Components of Long-term Borrowings	The components of long-term borrowings were as follows. (in thousands) September 30, 2024 December 31, 2023 FHLB advances $ 5,000 $ 5,000 Junior subordinated debentures 41,176 40,552 Subordinated notes 115,034 121,378 Total long-term borrowings $ 161,210 $ 166,930
Schedule of Junior Subordinated Debentures and Subordinated Notes	The following table shows the breakdown of junior subordinated debentures and subordinated notes. As of September 30, 2024 As of December 31, 2023 (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 6.64 % $ 10,310 $ (2,226) $ 8,084 7.08 % $ 7,930 Baylake Capital Trust II (3) 9/30/2036 6.22 % 16,598 (2,760) 13,838 6.94 % 13,660 First Menasha Statutory Trust (4) 3/17/2034 7.99 % 5,155 (410) 4,745 8.43 % 4,712 County Bancorp Statutory Trust II (5) 9/15/2035 6.74 % 6,186 (639) 5,547 7.18 % 5,433 County Bancorp Statutory Trust III (6) 6/15/2036 6.90 % 6,186 (697) 5,489 7.34 % 5,375 Fox River Valley Capital Trust (7) 5/30/2033 7.89 % 3,610 (137) 3,473 7.89 % 3,442 Total $ 48,045 $ (6,869) $ 41,176 $ 40,552 Subordinated Notes: Subordinated Notes due 2031 7/15/2031 3.13 % $ 92,750 $ (366) $ 92,384 3.13 % $ 98,476 County Subordinated Notes due 2030 6/30/2030 7.00 % 22,400 250 22,650 7.00 % 22,902 Total $ 115,150 $ (116) $ 115,034 $ 121,378 (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 SOFR 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 SOFR 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 SOFR 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 SOFR 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 SOFR 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 swap rate plus 3.40%, which resets every five years. * The floating rate on this debenture was originally based on three-month LIBOR. Effective with the cessation of LIBOR, the floating rate on this debenture is now based on three-month CME Term SOFR, plus the spread adjustment of 0.26161%.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule 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) September 30, 2024 December 31, 2023 Commitments to extend credit $ 1,952,931 $ 1,877,327 Financial standby letters of credit 15,988 17,500 Performance standby letters of credit 10,125 11,381

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Recurring Basis: Total Level 1 Level 2 Level 3 September 30, 2024 U.S. Treasury securities $ 14,460 $ — $ 14,460 $ — U.S. government agency securities 5,894 — 5,894 — State, county and municipals 299,930 — 298,975 955 Mortgage-backed securities 423,810 — 422,876 934 Corporate debt securities 81,813 — 78,057 3,756 Securities AFS $ 825,907 $ — $ 820,262 $ 5,645 Other investments (equity securities) $ 8,174 $ 8,174 $ — $ — Derivative assets $ 224 $ — $ — $ 224 Derivative liabilities $ — $ — $ — $ — December 31, 2023 U.S. Treasury securities $ 14,123 $ — $ 14,123 $ — U.S. government agency securities 7,384 — 7,384 — State, county and municipals 334,822 — 333,401 1,421 Mortgage-backed securities 352,622 — 351,658 964 Corporate debt securities 93,622 — 89,944 3,678 Securities AFS $ 802,573 $ — $ 796,510 $ 6,063 Other investments (equity securities) $ 4,240 $ 4,240 $ — $ — Derivative assets $ 152 $ — $ — $ 152 Derivative liabilities $ 79 $ — $ — $ 79
Schedule of Changes in Level 3 Assets 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) Nine Months Ended Year Ended Level 3 Fair Value Measurements: September 30, 2024 December 31, 2023 Balance at beginning of year $ 6,063 $ 8,153 Maturities / Paydowns (496) (2,425) Unrealized gain / (loss) 78 335 Balance at end of period $ 5,645 $ 6,063
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis	The following table presents the Company’s assets measured at fair value on a nonrecurring basis, aggregated by level in the fair value hierarchy within which those measurements fall. (in thousands) Fair Value Measurements Using Measured at Fair Value on a Nonrecurring Basis: Total Level 1 Level 2 Level 3 September 30, 2024 Collateral dependent loans $ 18,548 $ — $ — $ 18,548 MSR asset (disclosure) 18,428 — — 18,428 December 31, 2023 Collateral dependent loans $ 19,920 $ — $ — $ 19,920 MSR asset (disclosure) 16,810 — — 16,810
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments	The carrying amounts and estimated fair values of the Company’s financial instruments are shown below. September 30, 2024 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 427,984 $ 427,984 $ 427,984 $ — $ — Certificates of deposit in other banks 3,189 3,171 — 3,171 — Securities AFS 825,907 825,907 — 820,262 5,645 Other investments, including equity securities 60,443 60,443 8,174 44,281 7,988 Loans held for sale 11,121 11,416 — 11,416 — Loans, net 6,491,055 6,410,902 — — 6,410,902 MSR asset 10,907 18,428 — — 18,428 LSR asset 7,359 7,359 — — 7,359 Accrued interest receivable 25,946 25,946 25,946 — — Financial liabilities: Deposits $ 7,259,997 $ 7,265,074 $ — $ — $ 7,265,074 Long-term borrowings 161,210 146,140 — 4,933 141,207 Accrued interest payable 7,907 7,907 7,907 — — December 31, 2023 (in thousands) Carrying Estimated Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 491,431 $ 491,431 $ 491,431 $ — $ — Certificates of deposit in other banks 6,374 6,293 — 6,293 — Securities AFS 802,573 802,573 — 796,510 6,063 Other investments 57,560 57,560 4,240 44,010 9,310 Loans held for sale 4,160 4,276 — 4,276 — Loans, net 6,290,332 6,083,942 — — 6,083,942 MSR asset 11,655 16,810 — — 16,810 LSR asset 8,831 8,831 — — 8,831 Accrued interest receivable 24,237 24,237 24,237 — — Financial liabilities: Deposits $ 7,197,800 $ 7,184,712 $ — $ — $ 7,184,712 Long-term borrowings 166,930 155,179 — 4,820 150,359 Accrued interest payable 7,765 7,765 7,765 — —

Earnings per Common Share - Sch

Earnings per Common Share - Schedule of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income	$ 32,516	$ 17,158	$ 89,579	$ 30,855
Weighted average common shares outstanding (in shares)	15,052,524	14,740,319	14,965,982	14,715,588
Effect of dilutive common stock awards (in shares)	427,000	360,000	364,000	328,000
Diluted weighted average common shares outstanding (in shares)	15,479,395	15,099,622	15,329,687	15,044,259
Basic earnings per common share (in dollars per share)	$ 2.16	$ 1.16	$ 5.99	$ 2.10
Diluted earnings per common share (in dollars per share)	$ 2.10	$ 1.14	$ 5.84	$ 2.05

Earnings per Common Share - Nar

Earnings per Common Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Shares excluded from calculation of earnings per common share (in shares)	0.2	0.8	0.6	0.8

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares were available for grant (in shares)	600,000
Stock based compensation expense	$ 4.4	$ 4.2
Unrecognized compensation cost	$ 12.1
Remaining vesting period over which cost expected to be recognized	3 years
Stock based compensation tax benefit	$ 1.5	0.5
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 8.6	3.7
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grant (in shares)	18,764
Restricted Stock | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 0.7	$ 0.6
Restricted stock grant (in shares)	8,764	11,674

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Weighted Average Assumption for Stock Option (Details) - Stock Incentive Plan - Stock Options - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.30%	1.60%
Expected volatility	30%	30%
Risk-free interest rate	4.52%	3.74%
Expected average life (in years)	7 years	7 years
Weighted average per share fair value of options (in dollars per share)	$ 27.91	$ 20.94

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Weighted Average Exercise Price
Shares surrendered to satisfy exercise price and/or tax withholding requirements (in shares)	2,942
Stock Incentive Plan | Stock Options
Option Shares Outstanding
Beginning balance outstanding (in shares)	1,623,088
Granted (in shares)	80,000
Exercise of stock options (in shares)	(188,438)
Forfeited (in shares)	(6,700)
Ending balance outstanding (in shares)	1,507,950
Exercisable (in shares)	1,102,193
Weighted Average Exercise Price
Beginning balance outstanding (in dollars per share) | $ / shares	$ 62.09
Granted (in dollars per share) | $ / shares	78.32
Exercise of stock options (in dollars per share) | $ / shares	48.53
Forfeited (in dollars per share) | $ / shares	74.03
Ending balance outstanding (in dollars per share) | $ / shares	64.60
Exercisable (in dollars per share) | $ / shares	$ 60.06
Weighted average remaining life outstanding	5 years
Weighted average remaining life exercisable	4 years 1 month 6 days
Aggregate intrinsic value outstanding | $	$ 46,799
Aggregate intrinsic value exercisable | $	$ 39,203

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Restricted Stock Activity (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Restricted Shares Outstanding
Shares surrendered to satisfy exercise price and/or tax withholding requirements (in shares)	2,942
Restricted Stock
Weighted Average Grant Date Fair Value
Beginning balance outstanding (in dollars per share) | $ / shares	$ 76.61
Granted (in dollars per share) | $ / shares	78.67
Vested (in dollars per share) | $ / shares	77.62
Ending balance outstanding (in dollars per share) | $ / shares	$ 76.92
Restricted Shares Outstanding
Beginning balance outstanding (in shares)	57,158
Granted (in shares)	18,764
Vested (in shares)	(21,664)
Ending balance outstanding (in shares)	54,258
Shares surrendered to satisfy exercise price and/or tax withholding requirements (in shares)	4,306

Securities and Other Investme_3

Securities and Other Investments - Amortized Costs and Fair Values of Securities AFS (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 874,522	$ 875,187
Gross Unrealized Gains	4,604	2,114
Gross Unrealized Losses	53,219	74,728
Estimated Fair Value	825,907	802,573
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	15,844	15,988
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,384	1,865
Estimated Fair Value	14,460	14,123
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,914	7,430
Gross Unrealized Gains	6	0
Gross Unrealized Losses	26	46
Estimated Fair Value	5,894	7,384
State, county and municipals
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	318,878	360,496
Gross Unrealized Gains	478	651
Gross Unrealized Losses	19,426	26,325
Estimated Fair Value	299,930	334,822
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	446,648	388,378
Gross Unrealized Gains	3,966	1,437
Gross Unrealized Losses	26,804	37,193
Estimated Fair Value	423,810	352,622
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	87,238	102,895
Gross Unrealized Gains	154	26
Gross Unrealized Losses	5,579	9,299
Estimated Fair Value	$ 81,813	$ 93,622

Securities and Other Investme_4

Securities and Other Investments - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
	Mar. 07, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Schedule of Held-to-maturity Securities [Line Items]
Loss on sales of securities HTM, net				$ 0	$ 37,723,000
Other comprehensive loss		$ (20,866,000)	$ 18,082,000	(18,777,000)	$ 25,881,000
Investments securities pledged as collateral		323,000,000		323,000,000		$ 364,000,000
Accrued interest on investment securities		5,000,000		5,000,000		5,000,000
Allowance for credit losses on securities AFS		$ 0		$ 0		$ 0
U.S. Treasury securities
Schedule of Held-to-maturity Securities [Line Items]
Sale of held-to-maturity debt securities at par value	$ 500,000,000
Loss on sales of securities HTM, net	38,000,000
Realized loss, after tax	28,000,000
Held to maturity securities book value	177,000,000
Carrying value	157,000,000
U.S. Treasury securities | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent
Schedule of Held-to-maturity Securities [Line Items]
Transfer, unrealized loss	20,000,000
Other comprehensive loss	$ 15,000,000

Securities and Other Investme_5

Securities and Other Investments - Schedule of Proceeds and Realized Gains or Losses from the Sale of AFS and HTM Securities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Securities AFS:
Gross gains	$ 1,038	$ 268
Gross losses	(70)	(605)
Gains (losses) on sales of securities AFS, net	968	(337)
Proceeds from sales of securities AFS	4,987	28,992
Securities HTM:
Gross gains	0	0
Gross losses	0	(37,723)
Gains (losses) on sales of securities HTM, net	0	(37,723)
Proceeds from sales of securities HTM	$ 0	$ 460,051

Securities and Other Investme_6

Securities and Other Investments - Gross Unrealized Losses and the Related fair Value of Securities Available for Sale (Details) $ in Thousands	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 26,273	$ 33,963
Less than 12 months, unrealized losses	303	361
12 months or more, fair value	608,351	650,221
12 months or more, unrealized losses	52,916	74,367
Total, fair value	634,624	684,184
Total, unrealized losses	$ 53,219	$ 74,728
Total, number of securities | security	912	1,031
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 0	$ 0
Less than 12 months, unrealized losses	0	0
12 months or more, fair value	14,460	14,123
12 months or more, unrealized losses	1,384	1,865
Total, fair value	14,460	14,123
Total, unrealized losses	$ 1,384	$ 1,865
Total, number of securities | security	1	1
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 398	$ 4,621
Less than 12 months, unrealized losses	1	31
12 months or more, fair value	3,861	1,793
12 months or more, unrealized losses	25	15
Total, fair value	4,259	6,414
Total, unrealized losses	$ 26	$ 46
Total, number of securities | security	8	10
State, county and municipals
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 14,176	$ 29,336
Less than 12 months, unrealized losses	200	330
12 months or more, fair value	242,711	257,916
12 months or more, unrealized losses	19,226	25,995
Total, fair value	256,887	287,252
Total, unrealized losses	$ 19,426	$ 26,325
Total, number of securities | security	446	528
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 9,737	$ 6
Less than 12 months, unrealized losses	78	0
12 months or more, fair value	275,572	291,124
12 months or more, unrealized losses	26,726	37,193
Total, fair value	285,309	291,130
Total, unrealized losses	$ 26,804	$ 37,193
Total, number of securities | security	410	433
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 1,962	$ 0
Less than 12 months, unrealized losses	24	0
12 months or more, fair value	71,747	85,265
12 months or more, unrealized losses	5,555	9,299
Total, fair value	73,709	85,265
Total, unrealized losses	$ 5,579	$ 9,299
Total, number of securities | security	47	59

Securities and Other Investme_7

Securities and Other Investments - Amortized Cost and Fair Values of Securities Available for Sale at by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost
Due in less than one year	$ 23,894
Due in one year through five years	144,376
Due after five years through ten years	162,293
Due after ten years	97,311
Allocated and single maturity date	427,874
Amortized Cost	874,522
Fair Value
Due in less than one year	23,735
Due in one year through five years	135,855
Due after five years through ten years	150,189
Due after ten years	92,318
Allocated and single maturity date	402,097
Fair Value	825,907	$ 802,573
Mortgage-backed securities
Amortized Cost
Mortgage-backed securities	446,648
Fair Value
Mortgage-backed securities	423,810
Fair Value	$ 423,810	$ 352,622

Securities and Other Investme_8

Securities and Other Investments - Schedule of Carrying Value of other Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Federal Reserve Bank stock	$ 33,289	$ 33,087
Federal Home Loan Bank (“FHLB”) stock	9,674	9,674
Equity securities with readily determinable fair values	8,174	4,240
Other investments	9,306	10,559
Total other investments	$ 60,443	$ 57,560

Loans, Allowance for Credit L_3

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Loan Composition (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 6,556,840		$ 6,353,942
Less allowance for credit losses - Loans (“ACL-Loans”)	65,785	$ 65,414	63,610	$ 63,160	$ 62,811	$ 61,829
Loans, net	$ 6,491,055		$ 6,290,332
Allowance for credit losses - Loans to loans (in percent)	1%		1%
% of Total	100%		100%
Retail & other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 61,122		$ 55,728
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 963		$ 1,207			1,029
% of Total	1%		1%
Commercial | Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,351,516		$ 1,284,009
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 16,664		$ 15,225			16,350
% of Total	21%		20%
Commercial | Owner-occupied commercial real estate (“CRE”)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 920,533		$ 956,594
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 5,743		$ 9,082			9,138
% of Total	14%		15%
Commercial | Agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,261,152		$ 1,161,531
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 11,557		$ 12,629			9,762
% of Total	19%		18%
Commercial real estate | CRE investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,226,982		$ 1,142,251
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 13,844		$ 12,693			12,744
% of Total	19%		18%
Commercial real estate | Construction & land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 231,694		$ 310,110
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 2,346		$ 2,440			2,572
% of Total	3%		5%
Residential | Residential first mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,194,574		$ 1,167,109
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 11,176		$ 7,320			6,976
% of Total	18%		19%
Residential | Residential junior mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 223,456		$ 200,884
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 2,526		$ 2,098			1,846
% of Total	3%		3%
Residential | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 85,811		$ 75,726
Less allowance for credit losses - Loans (“ACL-Loans”)	$ 966		$ 916			$ 1,412
% of Total	2%		1%

Loans, Allowance for Credit L_4

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Accrued interest on loans	$ 21,000,000	$ 19,000,000
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
Material loans criteria for ACL-Loans adequacy calculation	$ 250,000
Reserve for unfunded commitments	$ 3,000,000	$ 3,000,000

Loans, Allowance for Credit L_5

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 65,414	$ 62,811	$ 63,610	$ 61,829	$ 61,829
Provision for credit losses	750	450	2,850	1,650	2,650
Charge-offs	(475)	(346)	(1,066)	(1,091)	(1,653)
Recoveries	96	245	391	772	784
Net (charge-offs) recoveries	(379)	(101)	(675)	(319)	(869)
Ending balance	$ 65,785	$ 63,160	$ 65,785	$ 63,160	$ 63,610

Loans, Allowance for Credit L_6

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Activity in ACL - Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
ACL-Loans
Beginning balance	$ 65,414	$ 62,811	$ 63,610	$ 61,829	$ 61,829
Provision for credit losses	750	450	2,850	3,990	2,650
Charge-offs	(475)	(346)	(1,066)	(1,091)	(1,653)
Recoveries	96	245	391	772	784
Net (charge-offs) recoveries	(379)	(101)	(675)	(319)	(869)
Ending balance	65,785	$ 63,160	$ 65,785	63,160	$ 63,610
As % of ACL-Loans			100%		100%
Residential first mortgage
ACL-Loans
Charge-offs			$ 0		$ (5)
Residential junior mortgage
ACL-Loans
Charge-offs			0		(96)
Commercial & industrial
ACL-Loans
Charge-offs			(572)		(440)
Owner-occupied CRE
ACL-Loans
Charge-offs			(120)		(773)
Agricultural
ACL-Loans
Charge-offs			0		(66)
CRE investment
ACL-Loans
Charge-offs			0		0
Construction & land development
ACL-Loans
Charge-offs			0		0
Residential construction
ACL-Loans
Charge-offs			0		0
Retail & other
ACL-Loans
Beginning balance			1,207	1,029	1,029
Provision for credit losses			53		441
Charge-offs			(374)		(273)
Recoveries			77		10
Net (charge-offs) recoveries			(297)		(263)
Ending balance	963		$ 963		$ 1,207
As % of ACL-Loans			1%		2%
Commercial | Commercial & industrial
ACL-Loans
Beginning balance			$ 15,225	16,350	$ 16,350
Provision for credit losses			1,964		(1,205)
Charge-offs			(572)		(440)
Recoveries			47		520
Net (charge-offs) recoveries			(525)		80
Ending balance	16,664		$ 16,664		$ 15,225
As % of ACL-Loans			25%		24%
Commercial | Owner-occupied CRE
ACL-Loans
Beginning balance			$ 9,082	9,138	$ 9,138
Provision for credit losses			(3,446)		470
Charge-offs			(120)		(773)
Recoveries			227		247
Net (charge-offs) recoveries			107		(526)
Ending balance	5,743		$ 5,743		$ 9,082
As % of ACL-Loans			9%		14%
Commercial | Agricultural
ACL-Loans
Beginning balance			$ 12,629	9,762	$ 9,762
Provision for credit losses			(1,072)		2,930
Charge-offs			0		(66)
Recoveries			0		3
Net (charge-offs) recoveries			0		(63)
Ending balance	11,557		$ 11,557		$ 12,629
As % of ACL-Loans			18%		20%
Commercial real estate | CRE investment
ACL-Loans
Beginning balance			$ 12,693	12,744	$ 12,744
Provision for credit losses			1,151		(51)
Charge-offs			0		0
Recoveries			0		0
Net (charge-offs) recoveries			0		0
Ending balance	13,844		$ 13,844		$ 12,693
As % of ACL-Loans			21%		20%
Commercial real estate | Construction & land development
ACL-Loans
Beginning balance			$ 2,440	2,572	$ 2,572
Provision for credit losses			(94)		(132)
Charge-offs			0		0
Recoveries			0		0
Net (charge-offs) recoveries			0		0
Ending balance	2,346		$ 2,346		$ 2,440
As % of ACL-Loans			4%		4%
Residential | Residential first mortgage
ACL-Loans
Beginning balance			$ 7,320	6,976	$ 6,976
Provision for credit losses			3,824		346
Charge-offs			0		(5)
Recoveries			32		3
Net (charge-offs) recoveries			32		(2)
Ending balance	11,176		$ 11,176		$ 7,320
As % of ACL-Loans			17%		12%
Residential | Residential junior mortgage
ACL-Loans
Beginning balance			$ 2,098	1,846	$ 1,846
Provision for credit losses			420		347
Charge-offs			0		(96)
Recoveries			8		1
Net (charge-offs) recoveries			8		(95)
Ending balance	2,526		$ 2,526		$ 2,098
As % of ACL-Loans			4%		4%
Residential | Residential construction
ACL-Loans
Beginning balance			$ 916	$ 1,412	$ 1,412
Provision for credit losses			50		(496)
Charge-offs			0		0
Recoveries			0		0
Net (charge-offs) recoveries			0		0
Ending balance	$ 966		$ 966		$ 916
As % of ACL-Loans			1%		0%

Loans, Allowance for Credit L_7

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Provision for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Receivables [Abstract]
Loans	$ 750	$ 450		$ 2,850	$ 1,650	$ 2,650
Unfunded commitments	0	0		0	0	0
Investment securities	0	0	$ 2,300	0	2,340	2,340
Total	$ 750	$ 450		$ 2,850	$ 3,990	$ 4,990

Loans, Allowance for Credit L_8

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Collateral Dependent Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 19,755	$ 20,275
Without an Allowance	9,935	14,435
With an Allowance	9,820	5,840
Allowance Allocation	1,207	355
Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	10,866	12,480
Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	8,889	7,795
Retail & other
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	16
Without an Allowance	0
With an Allowance	16
Allowance Allocation	2
Retail & other | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0
Retail & other | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	16
Commercial | Commercial & industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,966	2,576
Without an Allowance	721	2,164
With an Allowance	4,245	412
Allowance Allocation	1,056	196
Commercial | Commercial & industrial | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Commercial | Commercial & industrial | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,966	2,576
Commercial | Owner-occupied CRE
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,286	3,614
Without an Allowance	2,767	3,465
With an Allowance	519	149
Allowance Allocation	114	24
Commercial | Owner-occupied CRE | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,286	3,614
Commercial | Owner-occupied CRE | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Commercial | Agricultural
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	9,979	12,150
Without an Allowance	4,939	7,261
With an Allowance	5,040	4,889
Allowance Allocation	35	117
Commercial | Agricultural | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	6,072	6,931
Commercial | Agricultural | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,907	5,219
Commercial real estate | CRE investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	1,508	1,261
Without an Allowance	1,508	871
With an Allowance	0	390
Allowance Allocation	0	18
Commercial real estate | CRE investment | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	1,508	1,261
Commercial real estate | CRE investment | Other Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 0	0
Residential | Residential first mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans		674
Without an Allowance		674
With an Allowance		0
Allowance Allocation		0
Residential | Real Estate | Residential first mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans		674
Residential | Other Business Assets | Residential first mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans		$ 0

Loans, Allowance for Credit L_9

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Past Due Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Loans	$ 6,556,840	$ 6,353,942
Percent of total loans	100%	100%
30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	$ 5,597	$ 9,443
Percent past due	0.10%	0.10%
90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	$ 25,565	$ 26,625
Percent past due	0.40%	0.40%
Current
Financing Receivable, Past Due [Line Items]
Loans	$ 6,525,678	$ 6,317,874
Percent of current loans	99.50%	99.50%
Retail & other
Financing Receivable, Past Due [Line Items]
Loans	$ 61,122	$ 55,728
Retail & other | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	662	327
Retail & other | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	114	172
Retail & other | Current
Financing Receivable, Past Due [Line Items]
Loans	60,346	55,229
Commercial | Commercial & industrial
Financing Receivable, Past Due [Line Items]
Loans	1,351,516	1,284,009
Commercial | Commercial & industrial | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	729	540
Commercial | Commercial & industrial | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	5,658	4,046
Commercial | Commercial & industrial | Current
Financing Receivable, Past Due [Line Items]
Loans	1,345,129	1,279,423
Commercial | Owner-occupied CRE
Financing Receivable, Past Due [Line Items]
Loans	920,533	956,594
Commercial | Owner-occupied CRE | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	1,276	2,123
Commercial | Owner-occupied CRE | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	4,104	4,399
Commercial | Owner-occupied CRE | Current
Financing Receivable, Past Due [Line Items]
Loans	915,153	950,072
Commercial | Agricultural
Financing Receivable, Past Due [Line Items]
Loans	1,261,152	1,161,531
Commercial | Agricultural | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	140	12
Commercial | Agricultural | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	10,280	12,185
Commercial | Agricultural | Current
Financing Receivable, Past Due [Line Items]
Loans	1,250,732	1,149,334
Commercial real estate | CRE investment
Financing Receivable, Past Due [Line Items]
Loans	1,226,982	1,142,251
Commercial real estate | CRE investment | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	1,018	3,060
Commercial real estate | CRE investment | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	1,747	1,453
Commercial real estate | CRE investment | Current
Financing Receivable, Past Due [Line Items]
Loans	1,224,217	1,137,738
Commercial real estate | Construction & land development
Financing Receivable, Past Due [Line Items]
Loans	231,694	310,110
Commercial real estate | Construction & land development | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	0	171
Commercial real estate | Construction & land development | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	0	161
Commercial real estate | Construction & land development | Current
Financing Receivable, Past Due [Line Items]
Loans	231,694	309,778
Residential | Residential first mortgage
Financing Receivable, Past Due [Line Items]
Loans	1,194,574	1,167,109
Residential | Residential first mortgage | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	1,523	2,663
Residential | Residential first mortgage | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	3,478	4,059
Residential | Residential first mortgage | Current
Financing Receivable, Past Due [Line Items]
Loans	1,189,573	1,160,387
Residential | Residential junior mortgage
Financing Receivable, Past Due [Line Items]
Loans	223,456	200,884
Residential | Residential junior mortgage | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	249	547
Residential | Residential junior mortgage | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	184	150
Residential | Residential junior mortgage | Current
Financing Receivable, Past Due [Line Items]
Loans	223,023	200,187
Residential | Residential construction
Financing Receivable, Past Due [Line Items]
Loans	85,811	75,726
Residential | Residential construction | 30-89 Days Past Due (accruing)
Financing Receivable, Past Due [Line Items]
Loans	0	0
Residential | Residential construction | 90 Days & Over or nonaccrual
Financing Receivable, Past Due [Line Items]
Loans	0	0
Residential | Residential construction | Current
Financing Receivable, Past Due [Line Items]
Loans	$ 85,811	$ 75,726

Loans, Allowance for Credit _10

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Nonaccrual Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 25,565	$ 26,625
Percent of total loans	0.40%	0.40%
% of Total	100%	100%
Retail & other
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 114	$ 172
% of Total	0%	1%
Commercial | Commercial & industrial
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 5,658	$ 4,046
% of Total	21%	15%
Commercial | Owner-occupied CRE
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 4,104	$ 4,399
% of Total	17%	16%
Commercial | Agricultural
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 10,280	$ 12,185
% of Total	40%	46%
Commercial real estate | CRE investment
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 1,747	$ 1,453
% of Total	7%	5%
Commercial real estate | Construction & land development
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 0	$ 161
% of Total	0%	1%
Residential | Residential first mortgage
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 3,478	$ 4,059
% of Total	14%	15%
Residential | Residential junior mortgage
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 184	$ 150
% of Total	1%	1%
Residential | Residential construction
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 0	$ 0
% of Total	0%	0%

Loans, Allowance for Credit _11

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Loans by Risk Categories and Gross Charge-offs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	$ 691,940		$ 691,940		$ 810,769
Year one	790,810		790,810		1,478,242
Year two	1,332,863		1,332,863		1,128,121
Year three	1,009,201		1,009,201		585,085
Year four	528,934		528,934		367,691
Prior	1,240,136		1,240,136		1,083,584
Revolving	957,367		957,367		894,106
Revolving to Term	5,589		5,589		6,344
Total loans	6,556,840		6,556,840		6,353,942
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL	(475)	$ (346)	(1,066)	$ (1,091)	(1,653)
Residential first mortgage
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0		0
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		0
Prior			0		(5)
Revolving			0		0
Revolving to Term			0		0
TOTAL			0		(5)
Residential junior mortgage
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0		0
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		0
Prior			0		(96)
Revolving			0		0
Revolving to Term			0		0
TOTAL			0		(96)
Retail & other
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year					(7)
Year one					(1)
Year two					0
Year three					(1)
Year four					0
Prior					(52)
Revolving					(212)
Revolving to Term					0
TOTAL					(273)
Commercial & industrial
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0		0
Year one			(50)		(89)
Year two			(57)		(114)
Year three			(26)		0
Year four			(39)		0
Prior			(340)		(222)
Revolving			(60)		(15)
Revolving to Term			0		0
TOTAL			(572)		(440)
Owner-occupied CRE
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0		0
Year one			0		0
Year two			(90)		0
Year three			0		0
Year four			0		0
Prior			(30)		(773)
Revolving			0		0
Revolving to Term			0		0
TOTAL			(120)		(773)
Agricultural
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0		0
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		0
Prior			0		(66)
Revolving			0		0
Revolving to Term			0		0
TOTAL			0		(66)
CRE investment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0		0
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		0
Prior			0		0
Revolving			0		0
Revolving to Term			0		0
TOTAL			0		0
Construction & land development
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0		0
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		0
Prior			0		0
Revolving			0		0
Revolving to Term			0		0
TOTAL			0		0
Residential construction
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0		0
Year one			0		0
Year two			0		0
Year three			0		0
Year four			0		0
Prior			0		0
Revolving			0		0
Revolving to Term			0		0
TOTAL			0		0
Retail & other
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	7,909		7,909		8,238
Year one	5,340		5,340		8,107
Year two	5,930		5,930		5,408
Year three	3,780		3,780		2,442
Year four	1,606		1,606		1,708
Prior	5,310		5,310		3,934
Revolving	31,247		31,247		25,891
Revolving to Term	0		0		0
Total loans	61,122		61,122		55,728
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			(2)
Year one			(72)
Year two			(9)
Year three			(7)
Year four			0
Prior			(82)
Revolving			(202)
Revolving to Term			0
TOTAL			(374)		(273)
Retail & other | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	7,909		7,909		8,207
Year one	5,253		5,253		8,107
Year two	5,930		5,930		5,345
Year three	3,752		3,752		2,434
Year four	1,603		1,603		1,689
Prior	5,310		5,310		3,869
Revolving	31,247		31,247		25,891
Revolving to Term	0		0		0
Total loans	61,004		61,004		55,542
Retail & other | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		38
Year three	0		0		0
Year four	0		0		0
Prior	0		0		0
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	0		0		38
Retail & other | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		0
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	0		0		0
Retail & other | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		31
Year one	87		87		0
Year two	0		0		25
Year three	28		28		8
Year four	3		3		19
Prior	0		0		65
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	118		118		148
Commercial | Commercial & industrial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	175,154		175,154		232,509
Year one	203,419		203,419		252,113
Year two	207,494		207,494		182,228
Year three	146,998		146,998		72,010
Year four	52,560		52,560		55,900
Prior	105,212		105,212		98,545
Revolving	460,679		460,679		390,704
Revolving to Term	0		0		0
Total loans	1,351,516		1,351,516		1,284,009
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL			(572)		(440)
Commercial | Commercial & industrial | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	172,869		172,869		223,515
Year one	194,434		194,434		234,193
Year two	188,220		188,220		171,555
Year three	135,571		135,571		66,026
Year four	48,365		48,365		49,054
Prior	86,483		86,483		81,272
Revolving	392,908		392,908		359,284
Revolving to Term	0		0		0
Total loans	1,218,850		1,218,850		1,184,899
Commercial | Commercial & industrial | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	1,142		1,142		3,252
Year one	2,335		2,335		13,656
Year two	13,621		13,621		7,516
Year three	10,148		10,148		3,388
Year four	2,198		2,198		5,074
Prior	7,628		7,628		7,020
Revolving	51,795		51,795		18,753
Revolving to Term	0		0		0
Total loans	88,867		88,867		58,659
Commercial | Commercial & industrial | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	780		780		0
Year one	1,311		1,311		562
Year two	1,508		1,508		502
Year three	146		146		187
Year four	168		168		3
Prior	1,696		1,696		1,009
Revolving	14,132		14,132		10,974
Revolving to Term	0		0		0
Total loans	19,741		19,741		13,237
Commercial | Commercial & industrial | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	363		363		5,742
Year one	5,339		5,339		3,702
Year two	4,145		4,145		2,655
Year three	1,133		1,133		2,409
Year four	1,829		1,829		1,769
Prior	9,405		9,405		9,244
Revolving	1,844		1,844		1,693
Revolving to Term	0		0		0
Total loans	24,058		24,058		27,214
Commercial | Owner-occupied CRE
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	63,254		63,254		120,120
Year one	111,181		111,181		162,051
Year two	162,033		162,033		193,962
Year three	174,118		174,118		103,118
Year four	92,105		92,105		91,293
Prior	314,980		314,980		281,667
Revolving	2,862		2,862		4,383
Revolving to Term	0		0		0
Total loans	920,533		920,533		956,594
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL			(120)		(773)
Commercial | Owner-occupied CRE | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	61,878		61,878		114,704
Year one	102,673		102,673		156,723
Year two	154,656		154,656		181,128
Year three	160,818		160,818		91,038
Year four	82,119		82,119		85,430
Prior	277,630		277,630		247,730
Revolving	2,412		2,412		4,181
Revolving to Term	0		0		0
Total loans	842,186		842,186		880,934
Commercial | Owner-occupied CRE | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	1,376		1,376		5,416
Year one	7,625		7,625		4,024
Year two	4,964		4,964		7,858
Year three	7,920		7,920		5,092
Year four	3,106		3,106		3,994
Prior	27,018		27,018		27,585
Revolving	450		450		52
Revolving to Term	0		0		0
Total loans	52,459		52,459		54,021
Commercial | Owner-occupied CRE | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		3,905
Year three	3,794		3,794		0
Year four	0		0		1,531
Prior	6,053		6,053		12
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	9,847		9,847		5,448
Commercial | Owner-occupied CRE | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	883		883		1,304
Year two	2,413		2,413		1,071
Year three	1,586		1,586		6,988
Year four	6,880		6,880		338
Prior	4,279		4,279		6,340
Revolving	0		0		150
Revolving to Term	0		0		0
Total loans	16,041		16,041		16,191
Commercial | Agricultural
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	150,144		150,144		129,064
Year one	157,718		157,718		293,287
Year two	278,734		278,734		146,801
Year three	137,072		137,072		80,075
Year four	75,816		75,816		25,109
Prior	189,655		189,655		187,224
Revolving	272,013		272,013		299,971
Revolving to Term	0		0		0
Total loans	1,261,152		1,261,152		1,161,531
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL			0		(66)
Commercial | Agricultural | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	141,054		141,054		120,200
Year one	149,698		149,698		274,491
Year two	268,568		268,568		134,706
Year three	126,698		126,698		78,944
Year four	73,634		73,634		22,985
Prior	151,364		151,364		139,212
Revolving	256,920		256,920		277,170
Revolving to Term	0		0		0
Total loans	1,167,936		1,167,936		1,047,708
Commercial | Agricultural | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	6,753		6,753		6,345
Year one	5,436		5,436		11,975
Year two	3,685		3,685		5,718
Year three	4,113		4,113		703
Year four	1,707		1,707		394
Prior	22,455		22,455		33,658
Revolving	9,661		9,661		15,522
Revolving to Term	0		0		0
Total loans	53,810		53,810		74,315
Commercial | Agricultural | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	1,738		1,738		0
Year one	135		135		130
Year two	36		36		1,017
Year three	354		354		0
Year four	0		0		51
Prior	2,143		2,143		2,256
Revolving	1,312		1,312		194
Revolving to Term	0		0		0
Total loans	5,718		5,718		3,648
Commercial | Agricultural | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	599		599		2,519
Year one	2,449		2,449		6,691
Year two	6,445		6,445		5,360
Year three	5,907		5,907		428
Year four	475		475		1,679
Prior	13,693		13,693		12,098
Revolving	4,120		4,120		7,085
Revolving to Term	0		0		0
Total loans	33,688		33,688		35,860
Commercial real estate | CRE investment
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	73,473		73,473		33,510
Year one	53,947		53,947		202,239
Year two	257,617		257,617		274,685
Year three	252,838		252,838		178,935
Year four	171,345		171,345		125,776
Prior	408,809		408,809		315,846
Revolving	8,953		8,953		11,260
Revolving to Term	0		0		0
Total loans	1,226,982		1,226,982		1,142,251
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL			0		0
Commercial real estate | CRE investment | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	66,868		66,868		30,720
Year one	49,722		49,722		194,442
Year two	246,475		246,475		256,765
Year three	238,220		238,220		169,078
Year four	163,245		163,245		113,510
Prior	368,630		368,630		283,339
Revolving	8,919		8,919		11,146
Revolving to Term	0		0		0
Total loans	1,142,079		1,142,079		1,059,000
Commercial real estate | CRE investment | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	6,605		6,605		2,790
Year one	4,225		4,225		7,746
Year two	11,142		11,142		17,899
Year three	14,618		14,618		9,857
Year four	8,100		8,100		11,232
Prior	31,183		31,183		23,108
Revolving	34		34		49
Revolving to Term	0		0		0
Total loans	75,907		75,907		72,681
Commercial real estate | CRE investment | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		1,340
Revolving	0		0		65
Revolving to Term	0		0		0
Total loans	0		0		1,405
Commercial real estate | CRE investment | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		51
Year two	0		0		21
Year three	0		0		0
Year four	0		0		1,034
Prior	8,996		8,996		8,059
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	8,996		8,996		9,165
Commercial real estate | Construction & land development
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	56,619		56,619		51,299
Year one	44,929		44,929		149,178
Year two	48,669		48,669		67,805
Year three	61,019		61,019		10,705
Year four	9,594		9,594		5,443
Prior	8,989		8,989		22,722
Revolving	1,875		1,875		2,958
Revolving to Term	0		0		0
Total loans	231,694		231,694		310,110
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL			0		0
Commercial real estate | Construction & land development | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	56,619		56,619		51,253
Year one	44,885		44,885		149,155
Year two	48,280		48,280		64,761
Year three	58,032		58,032		9,441
Year four	9,594		9,594		4,939
Prior	8,496		8,496		22,548
Revolving	1,875		1,875		2,883
Revolving to Term	0		0		0
Total loans	227,781		227,781		304,980
Commercial real estate | Construction & land development | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		23
Year two	34		34		3,044
Year three	2,987		2,987		1,264
Year four	0		0		504
Prior	493		493		88
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	3,514		3,514		4,923
Commercial real estate | Construction & land development | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		0
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	0		0		0
Commercial real estate | Construction & land development | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		46
Year one	44		44		0
Year two	355		355		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		86
Revolving	0		0		75
Revolving to Term	0		0		0
Total loans	399		399		207
Residential | Residential first mortgage
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	101,842		101,842		164,945
Year one	178,942		178,942		390,924
Year two	361,829		361,829		249,661
Year three	228,600		228,600		132,495
Year four	122,016		122,016		59,579
Prior	200,856		200,856		168,616
Revolving	488		488		887
Revolving to Term	1		1		2
Total loans	1,194,574		1,194,574		1,167,109
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL			0		(5)
Residential | Residential first mortgage | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	101,637		101,637		164,917
Year one	178,551		178,551		389,246
Year two	358,404		358,404		247,957
Year three	225,066		225,066		130,857
Year four	120,743		120,743		56,223
Prior	193,328		193,328		162,424
Revolving	488		488		887
Revolving to Term	1		1		2
Total loans	1,178,218		1,178,218		1,152,513
Residential | Residential first mortgage | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	160		160		0
Year one	320		320		1,286
Year two	1,573		1,573		1,088
Year three	1,192		1,192		1,250
Year four	775		775		2,239
Prior	4,404		4,404		2,913
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	8,424		8,424		8,776
Residential | Residential first mortgage | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		0
Year three	70		70		0
Year four	0		0		0
Prior	74		74		0
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	144		144		0
Residential | Residential first mortgage | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	45		45		28
Year one	71		71		392
Year two	1,852		1,852		616
Year three	2,272		2,272		388
Year four	498		498		1,117
Prior	3,050		3,050		3,279
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	7,788		7,788		5,820
Residential | Residential junior mortgage
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	11,013		11,013		14,051
Year one	9,599		9,599		7,308
Year two	6,052		6,052		4,255
Year three	3,049		3,049		4,187
Year four	3,756		3,756		2,753
Prior	5,883		5,883		3,936
Revolving	178,516		178,516		158,052
Revolving to Term	5,588		5,588		6,342
Total loans	223,456		223,456		200,884
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL			0		(96)
Residential | Residential junior mortgage | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	11,013		11,013		14,020
Year one	9,570		9,570		7,277
Year two	5,985		5,985		4,053
Year three	2,852		2,852		4,187
Year four	3,756		3,756		2,753
Prior	5,822		5,822		3,909
Revolving	178,263		178,263		157,960
Revolving to Term	5,588		5,588		6,342
Total loans	222,849		222,849		200,501
Residential | Residential junior mortgage | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	67		67		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		0
Revolving	25		25		0
Revolving to Term	0		0		0
Total loans	92		92		0
Residential | Residential junior mortgage | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		0
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	0		0		0
Residential | Residential junior mortgage | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		31
Year one	29		29		31
Year two	0		0		202
Year three	197		197		0
Year four	0		0		0
Prior	61		61		27
Revolving	228		228		92
Revolving to Term	0		0		0
Total loans	515		515		383
Residential | Residential construction
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	52,532		52,532		57,033
Year one	25,735		25,735		13,035
Year two	4,505		4,505		3,316
Year three	1,727		1,727		1,118
Year four	136		136		130
Prior	442		442		1,094
Revolving	734		734		0
Revolving to Term	0		0		0
Total loans	85,811		85,811		75,726
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
TOTAL			0		0
Residential | Residential construction | Grades 1-4
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	52,532		52,532		57,033
Year one	25,735		25,735		13,035
Year two	4,505		4,505		3,316
Year three	1,727		1,727		1,118
Year four	136		136		130
Prior	442		442		1,094
Revolving	734		734		0
Revolving to Term	0		0		0
Total loans	85,811		85,811		75,726
Residential | Residential construction | Grade 5
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		0
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	0		0		0
Residential | Residential construction | Grade 6
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		0
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	0		0		0
Residential | Residential construction | Grade 7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current year	0		0		0
Year one	0		0		0
Year two	0		0		0
Year three	0		0		0
Year four	0		0		0
Prior	0		0		0
Revolving	0		0		0
Revolving to Term	0		0		0
Total loans	$ 0		$ 0		$ 0

Loans, Allowance for Credit _12

Loans, Allowance for Credit Losses - Loans, and Credit Quality - Schedule of Aggregated by Portfolio Segment and Type of Modification (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Impaired [Line Items]
Total	$ 1,521	$ 627
% of Total Loans	0.02%	0.01%
Payment Delay
Financing Receivable, Impaired [Line Items]
Total	$ 1,521	$ 540
Term Extension
Financing Receivable, Impaired [Line Items]
Total	0	0
Interest Rate Reduction
Financing Receivable, Impaired [Line Items]
Total	0	87
Term Extension & Interest Rate Reduction
Financing Receivable, Impaired [Line Items]
Total	0	0
Commercial & industrial | Commercial
Financing Receivable, Impaired [Line Items]
Total	$ 0	$ 520
% of Total Loans	0%	0.04%
Commercial & industrial | Payment Delay | Commercial
Financing Receivable, Impaired [Line Items]
Total	$ 0	$ 433
Commercial & industrial | Term Extension | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	0
Commercial & industrial | Interest Rate Reduction | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	87
Commercial & industrial | Term Extension & Interest Rate Reduction | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	0
Owner-occupied CRE | Commercial
Financing Receivable, Impaired [Line Items]
Total	$ 1,521	$ 0
% of Total Loans	0.17%	0%
Owner-occupied CRE | Payment Delay | Commercial
Financing Receivable, Impaired [Line Items]
Total	$ 1,521	$ 0
Owner-occupied CRE | Term Extension | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	0
Owner-occupied CRE | Interest Rate Reduction | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	0
Owner-occupied CRE | Term Extension & Interest Rate Reduction | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	0
Agricultural | Commercial
Financing Receivable, Impaired [Line Items]
Total	$ 0	$ 107
% of Total Loans	0%	0.01%
Agricultural | Payment Delay | Commercial
Financing Receivable, Impaired [Line Items]
Total	$ 0	$ 107
Agricultural | Term Extension | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	0
Agricultural | Interest Rate Reduction | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	0
Agricultural | Term Extension & Interest Rate Reduction | Commercial
Financing Receivable, Impaired [Line Items]
Total	0	0
CRE investment | Commercial real estate
Financing Receivable, Impaired [Line Items]
Total	$ 0	$ 0
% of Total Loans	0%	0%
CRE investment | Payment Delay | Commercial real estate
Financing Receivable, Impaired [Line Items]
Total	$ 0	$ 0
CRE investment | Term Extension | Commercial real estate
Financing Receivable, Impaired [Line Items]
Total	0	0
CRE investment | Interest Rate Reduction | Commercial real estate
Financing Receivable, Impaired [Line Items]
Total	0	0
CRE investment | Term Extension & Interest Rate Reduction | Commercial real estate
Financing Receivable, Impaired [Line Items]
Total	$ 0	$ 0

Goodwill and Other Intangible_3

Goodwill and Other Intangibles and Servicing Rights - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 367,387	$ 367,387
Other intangibles	22,340	26,979
Goodwill and other intangibles, net	389,727	394,366
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Other intangibles	20,258	25,112
Customer list intangibles
Finite-Lived Intangible Assets [Line Items]
Other intangibles	$ 2,082	$ 1,867

Goodwill and Other Intangible_4

Goodwill and Other Intangibles and Servicing Rights - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Net book value	$ 22,340		$ 22,340		$ 26,979
Amortization during the period	1,694	$ 1,986	5,289	$ 6,230
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	60,724		60,724		60,724
Accumulated amortization	(40,466)		(40,466)		(35,612)
Net book value	20,258		20,258		25,112
Additions during the period			0		0
Amortization during the period			4,854		7,589
Customer list intangibles
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	6,173		6,173		5,523
Accumulated amortization	(4,091)		(4,091)		(3,656)
Net book value	$ 2,082		2,082		1,867
Additions during the period			650		0
Amortization during the period			$ 435		$ 483

Goodwill and Other Intangible_5

Goodwill and Other Intangibles and Servicing Rights - Schedule of Mortgage and Loan Servicing Rights (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Mortgage Servicing Rights
Mortgage servicing rights asset:
Asset at beginning of year	$ 11,655	$ 13,080
Capitalized MSR	1,758	1,540
Amortization during the period	(2,386)	(2,965)
Asset at end of year	11,027	11,655
Valuation Allowance:
Valuation allowance at beginning of year	0	(500)
Additions	(120)	0
Reversals	0	500
Valuation allowance at end of period	(120)	0
MSR asset, net	10,907	11,655
Fair value of MSR asset at end of period	18,428	16,810
Residential mortgage loans serviced for others	$ 1,627,211	$ 1,609,395
Net book value of MSR asset to loans serviced for others	0.67%	0.72%
Loan Servicing Rights Asset
Mortgage servicing rights asset:
Asset at beginning of year	$ 8,831	$ 11,039
Amortization during the period	(1,472)	(2,208)
Asset at end of year	7,359	8,831
Valuation Allowance:
Residential mortgage loans serviced for others	$ 459,245	$ 492,137

Goodwill and Other Intangible_6

Goodwill and Other Intangibles and Servicing Rights - Schedule of Estimated Future Amortization Expense for Amortizing Intangible Assets and the MSR Asset (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Net book value	$ 22,340	$ 26,979
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
2024 (remaining three months)	1,444
2025	5,161
2026	3,983
2027	3,218
2028	2,622
2029	1,911
Thereafter	1,919
Net book value	20,258	25,112
Customer list intangibles
Finite-Lived Intangible Assets [Line Items]
2024 (remaining three months)	145
2025	579
2026	379
2027	296
2028	296
2029	166
Thereafter	221
Net book value	2,082	$ 1,867
MSR asset
Finite-Lived Intangible Assets [Line Items]
2024 (remaining three months)	692
2025	2,214
2026	1,583
2027	1,582
2028	1,581
2029	1,569
Thereafter	1,806
Net book value	11,027
LSR asset
Finite-Lived Intangible Assets [Line Items]
2024 (remaining three months)	490
2025	1,717
2026	1,472
2027	1,227
2028	981
2029	736
Thereafter	736
Net book value	$ 7,359

Short and Long-Term Borrowing_2

Short and Long-Term Borrowings - Narrative (Details) - USD ($)	1 Months Ended
	Dec. 31, 2021	Jul. 31, 2021	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Short-term borrowings			$ 0	$ 0
Trust preferred securities qualify as Tier 1 capital			$ 39,000,000	$ 39,000,000
FHLB advances
Debt Instrument [Line Items]
FHLB weighted average interest rate at period end			1.55%	1.55%
Subordinated notes
Debt Instrument [Line Items]
Par			$ 115,150,000
Subordinated notes | Subordinated Notes due 2031
Debt Instrument [Line Items]
Par		$ 100,000,000	92,750,000
Repurchased and retired			6,000,000
Subordinated notes | Subordinated Notes due 2031 | Interest Rate For The Years One Through 5
Debt Instrument [Line Items]
Fixed interest rate		3.125%
Subordinated notes | Subordinated Notes due 2031 | Interest Rate After Year Five
Debt Instrument [Line Items]
Floating interest rate basis spread		2.375%
Subordinated notes | County Subordinated Notes due 2030
Debt Instrument [Line Items]
Par	$ 22,000,000		$ 22,400,000
Subordinated notes | County Subordinated Notes due 2030 | Interest Rate For The Years One Through 5
Debt Instrument [Line Items]
Fixed interest rate	7%
Subordinated notes | County Subordinated Notes due 2030 | Interest Rate After Year Five
Debt Instrument [Line Items]
Floating interest rate basis spread	6.875%

Short and Long-Term Borrowing_3

Short and Long-Term Borrowings - Schedule of Components of Long-term Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument
Total long-term borrowings	$ 161,210	$ 166,930
FHLB advances
Debt Instrument
Total long-term borrowings	5,000	5,000
Junior subordinated debentures
Debt Instrument
Total long-term borrowings	41,176	40,552
Subordinated notes
Debt Instrument
Total long-term borrowings	$ 115,034	$ 121,378

Short and Long-Term Borrowing_4

Short and Long-Term Borrowings - Schedule of Junior Subordinated Debentures and Subordinated Notes (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2021	Jul. 31, 2021
Debt Instrument [Line Items]
Carrying Value	$ 161,210,000	$ 166,930,000
Junior subordinated debentures
Debt Instrument [Line Items]
Par	48,045,000
Unamortized Premium /(Discount) / Debt Issue Costs	(6,869,000)
Carrying Value	$ 41,176,000	$ 40,552,000
Adjustment on variable rate	0.26161%
Junior subordinated debentures | 2005 Mid-Wisconsin Financial Services, Inc.
Debt Instrument [Line Items]
Interest Rate	6.64%	7.08%
Par	$ 10,310,000
Unamortized Premium /(Discount) / Debt Issue Costs	(2,226,000)
Carrying Value	$ 8,084,000	$ 7,930,000
Floating interest rate basis spread	1.43%
Junior subordinated debentures | 2006 Baylake Corp.
Debt Instrument [Line Items]
Interest Rate	6.22%	6.94%
Par	$ 16,598,000
Unamortized Premium /(Discount) / Debt Issue Costs	(2,760,000)
Carrying Value	$ 13,838,000	$ 13,660,000
Floating interest rate basis spread	1.35%
Junior subordinated debentures | 2004 First Menasha Bancshares, Inc.
Debt Instrument [Line Items]
Interest Rate	7.99%	8.43%
Par	$ 5,155,000
Unamortized Premium /(Discount) / Debt Issue Costs	(410,000)
Carrying Value	$ 4,745,000	$ 4,712,000
Floating interest rate basis spread	2.79%
Junior subordinated debentures | County Bancorp Statutory Trust II
Debt Instrument [Line Items]
Interest Rate	6.74%	7.18%
Par	$ 6,186,000
Unamortized Premium /(Discount) / Debt Issue Costs	(639,000)
Carrying Value	$ 5,547,000	$ 5,433,000
Floating interest rate basis spread	1.53%
Junior subordinated debentures | County Bancorp Statutory Trust III
Debt Instrument [Line Items]
Interest Rate	6.90%	7.34%
Par	$ 6,186,000
Unamortized Premium /(Discount) / Debt Issue Costs	(697,000)
Carrying Value	$ 5,489,000	$ 5,375,000
Floating interest rate basis spread	1.69%
Junior subordinated debentures | Fox River Valley Capital Trust
Debt Instrument [Line Items]
Interest Rate	7.89%	7.89%
Par	$ 3,610,000
Unamortized Premium /(Discount) / Debt Issue Costs	(137,000)
Carrying Value	$ 3,473,000	$ 3,442,000
Floating interest rate basis spread	3.40%
Subordinated notes
Debt Instrument [Line Items]
Par	$ 115,150,000
Unamortized Premium /(Discount) / Debt Issue Costs	(116,000)
Carrying Value	$ 115,034,000	$ 121,378,000
Subordinated notes | Subordinated Notes due 2031
Debt Instrument [Line Items]
Interest Rate	3.13%	3.13%
Par	$ 92,750,000			$ 100,000,000
Unamortized Premium /(Discount) / Debt Issue Costs	(366,000)
Carrying Value	$ 92,384,000	$ 98,476,000
Subordinated notes | County Subordinated Notes due 2030
Debt Instrument [Line Items]
Interest Rate	7%	7%
Par	$ 22,400,000		$ 22,000,000
Unamortized Premium /(Discount) / Debt Issue Costs	250,000
Carrying Value	$ 22,650,000	$ 22,902,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of the Contract or Notional Amount of Exposure to Off-balance-sheet Risk (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commitments to extend credit
Other Commitments [Line Items]
Contract and notional amounts of commitments	$ 1,952,931	$ 1,877,327
Financial standby letters of credit
Other Commitments [Line Items]
Contract and notional amounts of commitments	15,988	17,500
Performance standby letters of credit
Other Commitments [Line Items]
Contract and notional amounts of commitments	$ 10,125	$ 11,381

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative fair value, net	$ 0.2	$ 0.1
Interest Rate Lock Commitments
Derivative [Line Items]
Commitments to sell residential mortgage loans held for sale considered derivative instruments	37	13
Forward Contracts
Derivative [Line Items]
Commitments to sell residential mortgage loans held for sale considered derivative instruments	$ 33	$ 13

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	$ 825,907	$ 802,573
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	14,460	14,123
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	5,894	7,384
State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	299,930	334,822
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	423,810	352,622
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	81,813	93,622
Reccurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	825,907	802,573
Derivative assets	224	152
Derivative liabilities	0	79
Reccurring | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	14,460	14,123
Reccurring | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	5,894	7,384
Reccurring | State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	299,930	334,822
Reccurring | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	423,810	352,622
Reccurring | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	81,813	93,622
Reccurring | Other investments (equity securities)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments (equity securities)	8,174	4,240
Reccurring | 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
Reccurring | Level 1 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Reccurring | Level 1 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Reccurring | Level 1 | State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Reccurring | Level 1 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Reccurring | Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Reccurring | Level 1 | Other investments (equity securities)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments (equity securities)	8,174	4,240
Reccurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	820,262	796,510
Derivative assets	0	0
Derivative liabilities	0	0
Reccurring | Level 2 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	14,460	14,123
Reccurring | Level 2 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	5,894	7,384
Reccurring | Level 2 | State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	298,975	333,401
Reccurring | Level 2 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	422,876	351,658
Reccurring | Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	78,057	89,944
Reccurring | Level 2 | Other investments (equity securities)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments (equity securities)	0	0
Reccurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	5,645	6,063
Derivative assets	224	152
Derivative liabilities	0	79
Reccurring | Level 3 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Reccurring | Level 3 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Reccurring | Level 3 | State, county and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	955	1,421
Reccurring | Level 3 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	934	964
Reccurring | Level 3 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	3,756	3,678
Reccurring | Level 3 | Other investments (equity securities)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments (equity securities)	$ 0	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - Securities AFS - Recurring - Level 3 - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Level 3 Fair Value Measurements:
Balance at beginning of year	$ 6,063	$ 8,153
Maturities / Paydowns	(496)	(2,425)
Unrealized gain / (loss)	78	335
Balance at end of period	$ 5,645	$ 6,063

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Measured at Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 18,548	$ 19,920
MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	18,428	16,810
Level 1 | Collateral dependent loans
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 2 | Collateral dependent loans
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 3 | Collateral dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	18,548	19,920
Level 3 | MSR asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 18,428	$ 16,810

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial assets:
Securities AFS	$ 825,907	$ 802,573
Carrying Amount
Financial assets:
Cash and cash equivalents	427,984	491,431
Certificates of deposit in other banks	3,189	6,374
Securities AFS	825,907	802,573
Other investments, including equity securities	60,443	57,560
Loans held for sale	11,121	4,160
Loans, net	6,491,055	6,290,332
Accrued interest receivable	25,946	24,237
Financial liabilities:
Deposits	7,259,997	7,197,800
Long-term borrowings	161,210	166,930
Accrued interest payable	7,907	7,765
Carrying Amount | MSR asset
Financial assets:
MSR asset	10,907	11,655
Carrying Amount | LSR asset
Financial assets:
MSR asset	7,359	8,831
Estimated Fair Value
Financial assets:
Cash and cash equivalents	427,984	491,431
Certificates of deposit in other banks	3,171	6,293
Securities AFS	825,907	802,573
Other investments, including equity securities	60,443	57,560
Loans held for sale	11,416	4,276
Loans, net	6,410,902	6,083,942
Accrued interest receivable	25,946	24,237
Financial liabilities:
Deposits	7,265,074	7,184,712
Long-term borrowings	146,140	155,179
Accrued interest payable	7,907	7,765
Estimated Fair Value | MSR asset
Financial assets:
MSR asset	18,428	16,810
Estimated Fair Value | LSR asset
Financial assets:
MSR asset	7,359	8,831
Estimated Fair Value | Level 1
Financial assets:
Cash and cash equivalents	427,984	491,431
Certificates of deposit in other banks	0	0
Securities AFS	0	0
Other investments, including equity securities	8,174	4,240
Loans held for sale	0	0
Loans, net	0	0
Accrued interest receivable	25,946	24,237
Financial liabilities:
Deposits	0	0
Long-term borrowings	0	0
Accrued interest payable	7,907	7,765
Estimated Fair Value | Level 1 | MSR asset
Financial assets:
MSR asset	0	0
Estimated Fair Value | Level 1 | LSR asset
Financial assets:
MSR asset	0	0
Estimated Fair Value | Level 2
Financial assets:
Cash and cash equivalents	0	0
Certificates of deposit in other banks	3,171	6,293
Securities AFS	820,262	796,510
Other investments, including equity securities	44,281	44,010
Loans held for sale	11,416	4,276
Loans, net	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	0	0
Long-term borrowings	4,933	4,820
Accrued interest payable	0	0
Estimated Fair Value | Level 2 | MSR asset
Financial assets:
MSR asset	0	0
Estimated Fair Value | Level 2 | LSR asset
Financial assets:
MSR asset	0	0
Estimated Fair Value | Level 3
Financial assets:
Cash and cash equivalents	0	0
Certificates of deposit in other banks	0	0
Securities AFS	5,645	6,063
Other investments, including equity securities	7,988	9,310
Loans held for sale	0	0
Loans, net	6,410,902	6,083,942
Accrued interest receivable	0	0
Financial liabilities:
Deposits	7,265,074	7,184,712
Long-term borrowings	141,207	150,359
Accrued interest payable	0	0
Estimated Fair Value | Level 3 | MSR asset
Financial assets:
MSR asset	18,428	16,810
Estimated Fair Value | Level 3 | LSR asset
Financial assets:
MSR asset	$ 7,359	$ 8,831