Nicolet Bankshares

Nicolet Bankshares is a U.S. regional bank holding company based in Green Bay, Wisconsin. They are the parent company of Nicolet National Bank, the second largest Wisconsin-based bank.[1][2]

Nicolet Bankshares
TypePublic
NYSE: NIC
Russell 2000 Component
IndustryBanking, Financial services
Founded2000
Headquarters
Green Bay, Wisconsin
,
United States
Key people
Michael E. Daniels, President, & CEO; Robert Atwell, Executive Chairman; Ann Lawson, CFO
ProductsRetail Banking
Commercial Banking
Private Banking
Small Business Lending
Wealth Management
Total assets$2.29 billion
Websitenicoletbank.com

As of June 30, 2021, it had over $6.1 billion in assets.[3]

History

Nicolet Bankshares was founded in November 2000, after founders Bob Atwell and Mike Daniels felt that the local bank they worked for was getting away from community banking, which they felt was important.[4] In 2010, Nicolet acquired four branches from Anchor Bank. In 2013, they acquired both Mid-Wisconsin Bank and the Bank of Wausau.[5]

In 2015, the company merged with Baylake Bank; the new company took the Nicolet National Bank name.[6] On April 12, 2016, the shareholders of both banks voted in favor of merging the two banks.[7] The $140 million deal closed on April 29, 2016.

In February 2020, Nicolet Bankshares announced plans to acquire West Bend, Wisconsin-based Commerce State Bank and its four branches in a deal valued at $129.6 million.[8][9][10] Three months later in May 2020, Nicolet terminated its agreement to acquire Commerce State Bank citing the impact of coronavirus and falling stock price for the publicly traded Nicolet Bank.[11]

On April 26, 2021 Robert B. Atwell left as chief executive officer at Nicolet Bank after 19 years. Mike Daniels was named President and Chief Executive Officer, and Bob Atwell was named Executive Chairman of Nicolet.[12]

On September 3, 2021, Nicolet completed a merger with Mackinac Financial Corporation, headquartered in Manistique, Michigan, and operating as mBank with branches in Michigan's Upper Peninsula and northern Lower Peninsula. Nicolet shuttered the mBank branches in Menominee, Alanson, Kaleva, Mio, West Ishpeming, Negaunee, and the McClellan Avenue branch in Marquette. It also sold the Birmingham branch and lending office in Metro Detroit to the Bank of Ann Arbor.[3]

On August 30, 2022 Nicolet Bankshares, Inc. completed a merger with Charter Bankshares, Inc. As a result, Charter merged with and into Nicolet, with Nicolet being the surviving corporation. Charter Bankshares was valued at 1.1 billion at the time of this acquisition.[13]

References
  1. Bollier, Jeff (May 26, 2016). "Baylake CEO Cera's Tenure at Nicolet Bank Over". Green Bay Press Gazette. Retrieved May 29, 2016.
  2. Taschler, Joe; Schmid, John (July 20, 2017). "Associated Bank Buying Bank Mutual in $482 Million Deal". Milwaukee Journal-Sentinel. Retrieved August 23, 2017.
  3. "Nicolet Bankshares, Inc. Announces Branch Optimization Strategy to Better Align with Customer Actions" (Press release). September 7, 2021. Retrieved March 18, 2023.
  4. "Bob Atwell and Nicolet National Bank Come to Door County". Door County Pulse. April 29, 2016. Retrieved April 12, 2021.
  5. "Nicolet National Bank, Green Bay, Wisconsin, Assumes All of the Deposits of Bank of Wausau, Wausau, Wisconsin" (Press release). Federal Deposit Insurance Corporation. Retrieved April 12, 2021.
  6. "Nicolet National, Baylake Announce Plans to Merge Banks". Milwaukee Journal Sentinel. September 8, 2015. Retrieved April 12, 2021.
  7. "Shareholders Approve Baylake, Nicolet National Bank Merger". Door County Pulse. April 14, 2016. Retrieved April 12, 2021.
  8. "Commerce State Bank to be acquired by Nicolet National Bank". Greater Milwaukee Today. February 20, 2020. Retrieved April 12, 2021.
  9. "Nicolet National Bank to Acquire Commerce State Bank". BizTimes Milwaukee. February 17, 2020. Retrieved April 12, 2021.
  10. "Nicolet Bank to Expand South to Milwaukee Suburbs with Acquisition of Commerce State Bank". Green Bay Press Gazette. February 17, 2020. Retrieved April 12, 2021.
  11. "Nicolet Bank Won't Acquire Commerce State Bank after Coronavirus Cuts into Stock Price". BizTimes Milwaukee. May 19, 2020. Retrieved April 12, 2021.
  12. "Nicolet Bankshares, Inc. Names Mike Daniels President and Chief Executive Officer". www.prnewswire.com. Retrieved June 12, 2023.
  13. "Nicolet Bankshares, Inc. Completes Merger with Charter Bankshares, Inc". www.prnewswire.com. Retrieved May 31, 2023.
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