Nicolet Bankshares
| Company type | Public |
|---|---|
| Industry | Banking |
| Founded | November 2000 |
| Founder | Bob Atwell, Mike Daniels |
| Headquarters | Green Bay , United States |
Area served | Wisconsin, Michigan |
Key people | Mike Daniels (President and CEO), Robert B. Atwell (Executive Chairman) |
| Products | Banking services |
Nicolet Bankshares, Inc. operates as a regional bank holding company in the United States, with its headquarters located in Green Bay, Wisconsin. It serves as the parent corporation of Nicolet National Bank, recognized as the second largest bank headquartered in Wisconsin.
By June 30, 2021, the firm reported assets exceeding $6.1 billion.
History
Nicolet Bankshares was created in November 2000 by founders Bob Atwell and Mike Daniels, with a mission centered on community banking principles. In 2010, the company expanded by acquiring four branches from Anchor Bank. Later, it further grew through the acquisitions of Mid-Wisconsin Bank and the Bank of Wausau in 2013.
The 2015 merger with Baylake Bank resulted in retaining the Nicolet National Bank brand. This $140 million merger received shareholder approval in April 2016.
In early 2020, Nicolet announced intentions to purchase Commerce State Bank for $129.6 million; however, this transaction was canceled in May 2020 due to adverse effects on its stock price caused by the COVID-19 pandemic.
Leadership changes occurred on April 26, 2021, when Robert B. Atwell resigned as CEO after nearly two decades at the helm. Mike Daniels was appointed President and CEO, while Atwell transitioned to Executive Chairman.
On September 3, 2021, Nicolet finalized a merger with Mackinac Financial Corporation (mBank), facilitating expansion into Michigan’s Upper Peninsula and northern Lower Peninsula regions. Following this merger, certain mBank locations were either closed or sold to enhance operational efficiency.
The August 30, 2022 merger with Charter Bankshares, Inc., valued at $1.1 billion, resulted in Charter being absorbed into Nicolet as the continuing entity.