Nicolet expands with bank purchase

Posted on Mar 2, 2020 :: Insight on Business, Web Exclusive
Posted by of Insight Publications

Nicolet Bankshares, the holding company for Nicolet National Bank, has acquired its second bank in a month.

Nicolet will acquire Advantage Community Bancshares Inc. through a definitive merger agreement. Terms of the all-cash deal were not disclosed.

“We continue to find great partners who want to get back to the heart of community banking. Banking is still a people-driven business, and we have found experienced bankers at Advantage who have a solid reputation for serving their customers,” Nicolet President and CEO Mike Daniels said in a statement.

Last month, Nicolet announced its acquisition of Commerce State Bank of West Bend.

With total assets of approximately $150 million, Advantage Community Bancshares has offices in Wausau, Edgar, Dorchester and Mosinee. The deal will be completed in the third quarter of this year.

“When we combine Advantage with the commercial lenders we added in Wausau two months ago, we have a solid strategic hub in central Wisconsin,” Daniels said.

Since 2016, Nicolet has purchased five banks: Baylake Bank of Door County in 2016, FNB-Fox Valley Bank in Menasha in 2018, Oshkosh-based Choice Bank in 2019, Commerce State Bank of West Bend in 2020 and now Advantage Community Bancshares.

Click here to read about Nicolet’s purchase of Commerce State Bank of West Bend.