Nicolet Bankshares vs peers
AI and technology compared

Last updated Oct 19, 2026 · 8 peers · 98 sources cited

How does Nicolet Bankshares compare with its peers on AI and technology?

On this site's AI disclosure index Nicolet scores 1.1 (#119 of 120 US banks), last in a nine-bank Midwest group led by Old National (66), Associated (56.8) and Busey (44.9). The gap is a disclosed program. Nicolet has named no AI tool, vendor, use case, budget or leader as of October 2026, and its Q1 and Q2 2026 10-Qs do not mention artificial intelligence. Its Green Bay neighbor Associated cited 30 AI use cases in process in September 2026 and has hired a head of AI for its commercial bank. Old National has stood up an AI center of excellence, and Abrigo reports its loan reviewers became about 31% more efficient with an AI assistant. Busey's Glia virtual assistants handled 61.5% of calls as it absorbed 30,000 new customers. Nicolet's technology year went to its MidWestOne acquisition, which closed on February 13, 2026 and added about $6 billion of assets. MidWestOne was scheduled to open as Nicolet National Bank on August 10, 2026, with its online customers moving to the NCR Voyix digital banking platform Nicolet chose in March 2024. Merger-related expense fell from $40.7 million in the first quarter to $7.4 million in the second. Nicolet's 10-K, filed February 27, 2026, takes a cautious line: AI presents 'new and significant cybersecurity safety risks that must be analyzed and addressed before implementation'.[1][2][3][4][5][6][7][8][9][10][11][12]

Data as of Oct 19, 2026 · Nicolet profile updated Oct 13, 2026 · computed tables recalculate from the 140 bank profiles on this site · Markdown

Where does Nicolet lead its peers on AI?

01

AI risk flagged in its 10-K a year before some peers

Nicolet's 10-K filed February 25, 2025 already said AI's cybersecurity risks must be addressed before implementation and that AI could worsen fraud. First Merchants' 10-K for the same year had no AI language, and Wintrust's named AI once, inside a general technology risk factor; both added an AI risk factor only in February 2026.[13][14][15][16][17]

02

Acquired customers on one digital platform within six months

MidWestOne closed on February 13, 2026 and was scheduled to open as Nicolet National Bank on August 10, 2026, with its online customers moving to Nicolet Bank Digital on NCR Voyix. Associated, which agreed to buy American National in December 2025, set that bank's systems conversion for October 2026.[9][10][11][18][19]

03

Integration costs falling quickly

Nicolet's merger-related expense fell from $40.7 million in Q1 2026 to $7.4 million in Q2, and the CEO said the core conversion would let the bank fully realise planned savings. Old National took until Q1 2026, about eleven months after closing Bremer, to report 100% of its $111 million of annual cost saves.[12][20][21][22]

Where does Nicolet trail its peers on AI?

01

No AI use case disclosed while Associated cites 30

Nicolet's profile records no AI use case in production. Associated's CEO cited 30 AI use cases in process in September 2026, including an internal build that cost $45,000 against an $800,000 purchase option, and the bank hired a senior director of AI for commercial banking in June 2026.[3][4][5]

02

No AI owner, unlike Busey, Associated and Old National

Nicolet's technology runs under EVP and Chief Credit Officer Brad Hutjens, with a Chief Innovation Officer named beside the CISO, but no AI role. Busey appointed a director of AI, data science and insights in April 2026, Associated a chief data officer in February 2026, and Old National runs an AI center of excellence under its CIO.[23][1][24][25][26]

03

No AI in customer service while Busey and Old National report results

Nicolet discloses no customer-facing AI. Busey's Glia virtual assistants handled 61.5% of calls and cut wrap-up time 50% (February 2026), and Old National's CIO says AI-powered call-center automation shortened average handling time (May 2026).[1][8][26]

04

No employee AI tools on the record

Nicolet names no internal AI assistant. First Merchants says Microsoft Copilot has been rolled out across the organisation and AI sifts incoming mortgage applications (June 2026), and Wintrust Specialty Finance uses AI credit adjudication that helped it originate more than 4,000 deals in the first half of 2026.[3][27][28]

Where does Nicolet rank against its peers on AI disclosure?

Scores from the US AI disclosure index of 120 banks (0–100; 45% of the weight on independent coverage). The index measures what each bank has put on the public record and what outside outlets have reported about its AI, not capability or spending; every count is of entries on that bank's profile, each of which cites its sources.

BankScoreRankIndependent sourcesOwn disclosuresUse cases in productionMoves, last 12 monthsNamed AI platform
Old National Bancorp66#40 of 12092210 of 1418Vendor-delivered automation on an acquisition-built bank[29][30][31][32]
Associated Banc-Corp56.8#49 of 12011194 of 1117Line-of-business AI under a chief data officer / CIO[5][33][34][35]
First Busey Corporation44.9#64 of 12042110 of 1313Director of AI, Data Science and Insights (from April 2026)[24][36][37][38][8][39]
Wintrust Financial Corporation38.1#76 of 1208167 of 916Not disclosed
First Merchants Corporation29.8#88 of 1203229 of 1118Not disclosed
Central Bancompany24.7#95 of 1202118 of 1113In-house technology division and core modernisation programme[40][41][42][43][44]
Park National Corporation6.6#103 of 1202105 of 810Not disclosed
First Financial Bancorp4.4#105 of 1207248 of 1117Not disclosed
Nicolet Bankshares (this page)1.1#119 of 1203132 of 515Not disclosed

On which parts of the AI record is Nicolet ahead of or behind its peers?

Each row is one input of the index, counted on the profiles of Nicolet and the 8 peers that are scored on the same basis. "Place" is Nicolet's position in the group of 9 (1st = most).

Component (weight)NicoletPeer medianMost in the groupPlace
Independent sources (45%)35.5Associated (11)6th of 9
Use cases in production (10%)28Old National (10)9th of 9
Own primary disclosures (10%)1320First Financial Bank (24)7th of 9
Dated moves, last 12 months (10%)1516.5Old National (18)6th of 9
Disclosed numbers (5%)1012.5Old National (16)9th of 9
Named AI leaders (5%)37.5Associated (12)9th of 9
Use cases described (5%)511Old National (14)9th of 9

What has each bank in Nicolet's peer group disclosed about its AI?

Facts from each bank's profile, cited to the profile's own sources. "Not disclosed" means the bank's public record, as cited on its profile, does not state it.

BankPlatform or assistant, as the profile names itAI leaders namedHeadline AI number disclosedPatents on the recordOpen AI roles
Nicolet BanksharesNot disclosed3, incl. Mike Daniels (Chairman, President and CEO)[20][45]Average full-time-equivalent employees, 2025: 959 (Dec 31, 2025)[1]Not disclosedNot surveyed
Associated Banc-CorpLine-of-business AI under a chief data officer / CIO[5][33][34][35]12, incl. Andy Harmening (President and CEO)[46][47]AI use cases in process: 30 (Sep 15, 2026)[4]1 patent listed on the profile, e.g. US 8,280,813 B2 (Debt protection for a financial overdraft account)[48]2 open AI roles (Sep 24, 2026); most in AI product & strategy
Old National BancorpVendor-delivered automation on an acquisition-built bank[29][30][31][32]12, incl. Jim Ryan (Chairman and CEO)[49][50]Legacy Power BI code clean-up with AI: ≈ 1 week vs ≈ 1 month for top programmers (Apr 22, 2026)[6]None found (the profile's patent search)[51][52]1 open AI roles (Oct 1, 2026); most in AI product & strategy
Wintrust Financial CorporationNot disclosed10, incl. Tim Crane (President and Chief Executive Officer)[53][54][55]Wintrust Specialty Finance originations, first half 2026 (with AI credit adjudication): More than 4,000 deals, roughly $500 million; team of 34 (Jun 30, 2026)[28]Not disclosed1 open AI roles (Oct 5, 2026); most in responsible AI & governance
First Merchants CorporationNot disclosed7, incl. Mark K. Hardwick (President and CEO)[56][57][58]Digital platform conversion cost (non-core, 2024): $2.4 million (Dec 31, 2024)[15]Not disclosedNot surveyed
First Busey CorporationDirector of AI, Data Science and Insights (from April 2026)[24][36][37][38][8][39]8, incl. Van A. Dukeman (Chairman, President and CEO)[59][60]Not disclosedNot disclosedNot surveyed
First Financial BancorpNot disclosed7, incl. Archie Brown (Chief Executive Officer)[61][62][63]AI references in the 10-K, FY2023 / FY2024 / FY2025: none / 1 passage / about 25 (Feb 19, 2026)[64][65][66]Not disclosed0 open AI roles (Sep 24, 2026)
Park National CorporationNot disclosed6, incl. Matthew R. Miller (President and Chief Executive Officer)[67][68]Virtual voice assistant self-service growth: 132% in 2025 (Dec 31, 2025)[67]Not disclosedNot surveyed
Central BancompanyIn-house technology division and core modernisation programme[40][41][42][43][44]6, incl. John 'JR' Ross (President and CEO)[69]Personetics insights: digital engagement / click-through (vendor-reported): 29% / 22.9%; 32.5 million insights delivered; bank NPS 70.6 (Apr 16, 2026)[44]Not disclosedNot surveyed

What are the latest dated moves on the AI record of Nicolet and its peers?

The two newest dated entries of each bank since Oct 16, 2025, from the timelines of the profiles (which also log filings, results and deals that bear on the AI record), newest first.

DateBankMove
Oct 1, 2026First MerchantsCEO succession: Stewart to replace Hardwick on 1 January 2027[58][70]
Sep 15, 2026AssociatedBarclays conference: 30 AI use cases in process[4]
Sep 14, 2026First Financial BankSuccession reshuffle: Anderson president, former CIO Myers COO[63][71]
Sep 8, 2026WintrustEquipment-finance unit writes on financing the AI boom[72]
Aug 26, 2026WintrustWintrust insurance banking note: automated credit assessments, AI governance watch[73]
Aug 14, 2026Central BankQ2 2026 10-Q: AI-related fraud and cyber risks monitored[74]
Aug 14, 2026Central BankQ2 2026 10-Q: $12 million of core modernisation capitalised[74]
Aug 11, 2026First MerchantsCustomer warning on bank-impersonation scams[75]
Aug 10, 2026NicoletMidWestOne scheduled to open as Nicolet National Bank[10]
Aug 7, 2026Park NationalQ2 10-Q: data processing costs up, Tennessee legacy core still running[76]
Aug 6, 2026First Financial BankQ2 2026 10-Q: no AI language[77][78]
Aug 6, 2026Busey BankQ2 2026 10-Q: AI named in forward-looking risks; headcount and data processing[79]
Aug 5, 2026AssociatedGuide on AI-powered social engineering[80]
Jul 31, 2026NicoletQ2 2026 10-Q has no AI language[3][12]
Jul 29, 2026Old NationalQ2 2026 10-Q has no AI language[81][82][49]
Jul 28, 2026Busey BankQ2 2026 investor presentation: AI in the CFO's portfolio[38]
Jul 27, 2026Park NationalQ2 2026 results; conversion on track for third quarter[83]
Jul 22, 2026Old NationalQ2 2026 call: AI for scalability[84]

What AI have Nicolet's Midwest peers put into use?

The AI work each bank has described, with the scale disclosed and the date. A blank means nothing is disclosed, not that nothing exists.

BankWhat it hasWhenScale or result disclosed
NicoletNone disclosed; NCR Voyix Digital Banking platform (no AI feature claimed)March 2024 (platform)Not disclosed[11][3]
Old NationalAI center of excellence; AI call-center automation; Abrigo AI Loan Review AssistantApril to July 2026Loan reviewers about 31% more efficient (vendor-reported); a Power BI clean-up done in a week instead of a month[6][26][7]
AssociatedAI run by business line; a head of AI for commercial bankingMarch to September 202625 AI modules (March 2026); 30 use cases in process (September 2026)[85][4][5]
BuseyGlia voice AI and virtual assistants; a director of AI, data science and insightsFebruary and April 202661.5% of calls handled by virtual assistants; wrap-up time down 50%[8][24]
First MerchantsMicrosoft Copilot firm-wide; AI as a 'front side sifter' for mortgage applicationsJune 2026Target of $1.4 billion of mortgage volume with the same staff[27]
WintrustAI credit adjudication at Wintrust Specialty Finance; vendor AI features switched on under governanceMarch and August 20264,000+ equipment deals worth about $500 million in the first half of 2026[28][86]

How does Nicolet's AI governance compare with its peers'?

What each bank's latest annual report or proxy says about AI. Disclosure language, not a measure of capability.

BankWhat the filing saysOversight namedFiling
NicoletAI must be analyzed and addressed for cybersecurity 'before implementation'; AI could worsen fraud; AI-based advice apps compete in wealth managementThe CISO works with the Chief Innovation Officer; no AI owner2025 10-K, February 27, 2026[1]
AssociatedThe business 'increasingly relies on AI'; a dedicated risk factor on AI regulation, third-party tools, data leakage and fair lendingBoard technology committee created April 2026; chief data officer reports to the CIO2025 10-K; April 2026[87][35][25]
Old NationalAI 'including digital employees and digital engineers'; risk of missing expected productivity or cost reduction from AIEnterprise Risk Committee covers technology 'including artificial intelligence', with quarterly CIO and CISO reports2025 10-K; 2026 proxy[88][89]
WintrustMay selectively incorporate AI in processes, fraud detection, services or products; policies govern AI on the company networkA director credited with guidance on 'artificial intelligence objectives'2025 10-K; 2026 proxy[17][90]
First MerchantsFirst AI risk factor: machine-learning and generative AI tools in use; failing to embrace AI could be a competitive disadvantageCIO gives risk-assessment input to the Risk and Credit Policy Committee2025 10-K; 2026 proxy[15][91]
BuseyFailure to 'adopt, integrate, or govern new technologies, including generative AI' named as a risk; AI-powered fraud and threat detectionAI sits in the CFO's portfolio; a director of AI from April 20262025 10-K; Q2 2026 deck[37][38][24]

How does Nicolet's technology spending compare with its peers'?

Technology or data-processing expense and the latest integration milestone each bank discloses. None publishes an AI budget.

BankTechnology expense disclosedIntegration milestonePeriod
NicoletData processing $18.6 million in 2025, up 5%, mostly volume-based core and card processingMidWestOne closed February 13, 2026; conversion scheduled for August 10, 20262025; 2026[1][9][10]
WintrustSoftware and equipment $142.4 million in 2025, up from $122.8 million; $39.3 million in Q2 2026, up 8%Macatawa business accounts converted April 20252025; Q2 2026[17][92][93]
Old NationalTechnology expense $29.6 million in Q2 2026, against $36.1 million in Q3 2025 during the Bremer conversionBremer conversion completed October 2025; 100% of $111 million saves by Q1 20262025-2026[81][49][94][22]
BuseyData processing $8.9 million in Q2 2026New Busey Digital Banking platform live June 8, 2026Q2 2026[79][95]
First MerchantsOutside data processing fees $8.0 million in Q2 2026First Savings converted May 18, 2026Q2 2026[56][96]
AssociatedNot broken outAmerican National conversion set for October 2026May 2026[19]

Which banks are Nicolet's peers, and why these?

Nicolet Bankshares is compared here with Associated Banc-Corp, Old National Bancorp, Wintrust Financial Corporation, First Merchants Corporation, First Busey Corporation, First Financial Bancorp, Park National Corporation and Central Bancompany: chosen by the editors for this page (see the note below the table). Nicolet Bankshares is classed as a regional or retail-commercial bank in the Midwest.

The computed group included banks from Texas, Colorado and New York; this group holds Midwest regionals, led by the three that compete in Nicolet's Wisconsin, Minnesota and Michigan markets (Associated, also based in Green Bay; Old National, which bought Minnesota's Bremer; and Wintrust in southern Wisconsin and west Michigan), plus Midwest acquirers of similar size.

Does Nicolet National Bank use AI?

Not on the public record. As of October 2026 Nicolet has named no AI tool, vendor, use case or budget, and its first- and second-quarter 2026 10-Qs contain no reference to artificial intelligence. Its 2025 10-K treats AI as a risk to be analyzed before implementation, a fraud accelerant and a source of robo-advice competition in wealth management.[1][2][3]

Is Nicolet behind Associated Bank on AI?

On the record, yes: Associated scores 56.8 on this site's disclosure index against Nicolet's 1.1. Associated, also based in Green Bay, cited 30 AI use cases in September 2026, hired a head of AI for commercial banking and created a board technology committee. Nicolet discloses no AI program; neither bank's index score measures capability, only what is on the record.[4][5][35][1]

How does Nicolet compare with Old National on technology?

Old National, which bought Minnesota's Bremer in 2025, has an AI center of excellence, AI call-center automation and an Abrigo loan-review assistant that the vendor says made reviewers about 31% more efficient. Nicolet's disclosed technology is its NCR Voyix digital banking platform and the MidWestOne systems conversion, with no AI program named.[50][6][26][7][11][10]

Does Nicolet have an AI virtual assistant?

None is disclosed. Busey reports that Glia virtual assistants handled 61.5% of its calls and cut wrap-up time 50% as it absorbed 30,000 new customers. Associated listed an AI-enabled chatbot among its 2024 initiatives. Nicolet's 2024 NCR Voyix release describes digital banking, data strategy and back-office efficiency, without an AI feature.[8][97][11]

Who runs technology at Nicolet?

Since February 24, 2026 EVP Brad Hutjens, also Chief Credit Officer, has been responsible for credit, operations and information technology. The 10-K says the CISO runs information security with the Chief Innovation Officer, named in 2024 as Kelly Fischer. No AI officer is named, unlike Busey's director of AI or Associated's head of AI for commercial banking.[23][1][11][24][5]

How does Nicolet's technology spending compare with Midwest peers?

Nicolet reported $18.6 million of data processing expense in 2025, up 5%. Wintrust spent $142.4 million on software and equipment in 2025, up 16%, and Old National reported $29.6 million of technology expense in Q2 2026 alone. Nicolet's 2026 spending is dominated by the MidWestOne integration, with $48.1 million of merger-related expense in the first half.[1][17][49][12]

Why has Nicolet said so little about AI?

Its 2026 has been about MidWestOne. The deal closed on February 13, 2026; the CEO said in April that integration was on plan and in July that the core conversion would let the bank fully realise planned cost savings. Nicolet also sold MidWestOne's Denver branches to Sunwest Bank, completed on July 29, 2026.[9][20][98]

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    Nicolet Bankshares (SEC filing) · Feb 27, 2026
  2. Nicolet Bankshares, Inc. Form 10-Q for the quarter ended March 31, 2026
    Nicolet Bankshares (SEC filing) · May 6, 2026
  3. Nicolet Bankshares, Inc. Form 10-Q for the quarter ended June 30, 2026
    Nicolet Bankshares (SEC filing) · Jul 31, 2026
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    Investing.com · Sep 15, 2026
  5. Associated Bank Hires Andy Miner as senior director, AI for Corporate & Commercial Banking
    Associated Banc-Corp · Jun 30, 2026
  6. Old National (ONB) Q1 2026 Earnings Transcript
    The Motley Fool (Yahoo Finance) · Apr 22, 2026
  7. Old National Bank increased loan review efficiency and capacity with Abrigo
    Abrigo · Jul 7, 2026
  8. Building Relationships When Checking No Longer Confers Primacy
    The Financial Brand · Feb 24, 2026
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    Nicolet Bankshares (Business Wire) · Apr 21, 2026
  10. Nicolet National Bank and MidWestOne Bank: what customers should know
    Nicolet National Bank · Jul 1, 2026
  11. Nicolet National Bank Partners with NCR Voyix to Transform Digital Banking
    NCR Voyix (Business Wire) · Mar 12, 2024
  12. Nicolet Bankshares, Inc. Announces Second Quarter 2026 Earnings
    Nicolet Bankshares (Business Wire, investor relations) · Jul 21, 2026
  13. Nicolet Bankshares, Inc. Form 10-K for the fiscal year ended December 31, 2024
    Nicolet Bankshares (SEC filing) · Feb 25, 2025
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    First Merchants Corporation (SEC filings) · Feb 24, 2025
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    First Merchants Corporation (SEC filings) · Feb 25, 2026
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    Wintrust Financial Corporation (SEC filings) · Feb 28, 2025
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    Wintrust Financial Corporation (SEC filings) · Feb 26, 2026
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    Banking Dive · Dec 1, 2025
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    Associated Banc-Corp (SEC filings) · May 5, 2026
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    Nicolet Bankshares (Business Wire via Yahoo Finance) · Jul 21, 2026
  21. Minnesota's Bremer Bank to lay off 244 after sale to Old National
    Banking Dive · Sep 10, 2025
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    Earnings call transcript (The Motley Fool) · Apr 22, 2026
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    Nicolet Bankshares (SEC filing) · Mar 24, 2026
  24. Bernini Joins Busey as Director of AI
    Busey Bank · Apr 6, 2026
  25. Associated Bank announces hiring of Alexander Bush, executive vice president, chief data officer
    Associated Bank newsroom · Feb 24, 2026
  26. How CFOs Can Drive Real Returns From AI Investments
    Old National Bank · May 19, 2026
  27. Executive Insights: Experts weigh in on state of crypto, AI and what the business community needs most from banks right now
    Louisville Business First · Jun 5, 2026
  28. AI driving funding growth via credit adjudication
    Equipment Finance News (first published by sister title FinAi News) · Aug 6, 2026
  29. Old National Receives 2026 Trust in Banking Award
    Old National Bancorp · Jan 22, 2026
  30. Old National Bank, Axletree Solutions Partnership Finalizes Critical Swift Architecture, Achieves ISO 20022 Compliance for 2026
    GlobeNewswire via FT Markets · Feb 10, 2026
  31. Four tips to identify AI solutions that solve real business problems
    Old National Bank · Apr 11, 2025
  32. What not to share when using AI for personal finance help
    Old National Bank · May 26, 2026
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    Banking Dive · Jul 30, 2026
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    American Banker · Apr 23, 2026
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    Associated Banc-Corp · Apr 28, 2026
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    First Busey Corporation · Apr 28, 2026
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    First Busey Corporation (SEC filings) · Feb 26, 2026
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    First Busey Corporation (SEC filings) · Jul 28, 2026
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    Glia (case study) · Sep 24, 2026
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    Central Bancompany (SEC filings) · Mar 25, 2026
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    Central Bank · Sep 24, 2026
  42. The Rise of AI-Enhanced Scams
    Central Bank · Nov 7, 2024
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    Personetics (PR Newswire) · Mar 27, 2024
  44. How Personetics and Central Bank Drive Customer-Centered Banking
    Personetics · Apr 16, 2026
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    Nicolet Bankshares (Business Wire) · Jan 20, 2026
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    Banking Dive · Apr 27, 2026
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    PR Newswire via FT Markets · Jul 23, 2026
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    Old National Bancorp · Jul 22, 2026
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    American Banker · Jul 22, 2026
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  80. AI-Powered Social Engineering: Is Your Business at Risk?
    Associated Bank · Aug 5, 2026
  81. Old National Bancorp Quarterly Report on Form 10-Q for the quarter ended June 30, 2026
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  82. Old National Bancorp Quarterly Report on Form 10-Q for the quarter ended March 31, 2026
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  87. Associated Banc-Corp Annual Report on Form 10-K for the fiscal year ended December 31, 2025
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  88. Old National Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2025
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  89. Old National Bancorp 2026 Proxy Statement (DEF 14A)
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  92. Wintrust Financial Corporation Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026
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  98. Sunwest Bank Completes Acquisition of Former MidWestOne and Bank of Denver, Colorado Branches from Nicolet National Bank
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