Nicolet Bankshares

Nicolet Bankshares, Inc.

Type| Public

Traded as

| NYSE: NIC
Russell 2000 Component
Industry| Banking, Financial services
Founded| 2000; 26 years ago (2000)
Headquarters|

Green Bay, Wisconsin

United States

Key people

* Michael E. Daniels (president & CEO)
* Robert Atwell (executive chairman)
* Ann Lawson (CFO)

Products| Retail Banking
Commercial Banking
Private Banking
Small Business Lending
Wealth Management
Total assets| $2.29 billion
Website| nicoletbank.com

Nicolet Bankshares, Inc. 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]

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]

In October 2025, Nicolet Bankshares agreed to acquire MidWestOne Financial Group in a $864 million all-stock deal.[14]

## References

1. ↑ Bollier, Jeff (May 26, 2016). "Baylake CEO Cera's Tenure at Nicolet Bank Over". Green Bay Press Gazette. http://www.greenbaypressgazette.com/story/money/2016/05/26/nicolet-rob-cera/84992766/.
2. ↑ Taschler, Joe; Schmid, John (July 20, 2017). "Associated Bank Buying Bank Mutual in $482 Million Deal". Milwaukee Journal-Sentinel. http://www.jsonline.com/story/money/2017/07/20/associated-buying-bank-mutual-482-million-deal/497550001/.
3. ↑ 3.0 3.1 "Nicolet Bankshares, Inc. Announces Branch Optimization Strategy to Better Align with Customer Actions" (Press release). September 7, 2021. Archived from the original on March 18, 2023. Retrieved March 18, 2023.
4. ↑ "Bob Atwell and Nicolet National Bank Come to Door County". Door County Pulse. April 29, 2016. https://doorcountypulse.com/bob-atwell-nicolet-national-bank-come-door-county/.
5. ↑ "Nicolet National Bank, Green Bay, Wisconsin, Assumes All of the Deposits of Bank of Wausau, Wausau, Wisconsin" (Press release). Federal Deposit Insurance Corporation. Archived from the original on April 11, 2021. Retrieved April 12, 2021.
6. ↑ "Nicolet National, Baylake Announce Plans to Merge Banks". Milwaukee Journal Sentinel. September 8, 2015. https://archive.jsonline.com/business/bankmerge09-b99572949z1-325817441.html/.
7. ↑ "Shareholders Approve Baylake, Nicolet National Bank Merger". Door County Pulse. April 14, 2016. https://doorcountypulse.com/shareholders-approve-baylake-nicole-national-bank-merger/.
8. ↑ "Commerce State Bank to be acquired by Nicolet National Bank". Greater Milwaukee Today. February 20, 2020. https://www.gmtoday.com/business/commerce-state-bank-to-be-acquired-by-nicolet-national-bank/article_8b8d5868-53e6-11ea-8c95-dbb7e2870bba.html.
9. ↑ "Nicolet National Bank to Acquire Commerce State Bank". BizTimes Milwaukee. February 17, 2020. https://biztimes.com/nicolet-national-bank-acquires-commerce-state-bank/.
10. ↑ "Nicolet Bank to Expand South to Milwaukee Suburbs with Acquisition of Commerce State Bank". Green Bay Press Gazette. February 17, 2020. https://www.greenbaypressgazette.com/story/money/2020/02/17/green-bays-nicolet-bank-acquire-commerce-state-bank-expanding-south/4748684002/.
11. ↑ "Nicolet Bank Won't Acquire Commerce State Bank after Coronavirus Cuts into Stock Price". BizTimes Milwaukee. May 19, 2020. https://biztimes.com/nicolet-bank-wont-acquire-commerce-state-bank-after-coronavirus-cuts-into-stock-price/.
12. ↑ "Nicolet Bankshares, Inc. Names Mike Daniels President and Chief Executive Officer". www.prnewswire.com (Press release). Archived from the original on June 12, 2023. Retrieved 2023-06-12.
13. ↑ "Nicolet Bankshares, Inc. Completes Merger with Charter Bankshares, Inc". www.prnewswire.com (Press release). Archived from the original on May 31, 2023. Retrieved 2023-05-31.
14. ↑ Biswas, Pritam (October 23, 2025). "Nicolet Bankshares to buy MidWestOne in $864 million stock deal". Reuters. https://www.reuters.com/legal/transactional/nicolet-bankshares-buy-midwestone-864-million-stock-deal-2025-10-23/.

## External links

* Official website

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