Company Profile
- Founded in 2000, Nicolet Bankshares, Inc. (NYSE: NIC) (“Nicolet” or “the company”) is the holding company for Green Bay, Wisconsin based Nicolet National Bank (“the bank”), which is a commercially-focused community bank that operates 57 branches primarily throughout WI and the Upper Peninsula of MI, though, more recently, through an acquisition, expanded into MN, notably, the suburbs of the Twin Cities, and during 1Q24, opened a branch in Naples, FL to follow customers that are migrating to the region.
- The growth strategy has been largely acquisitive in recent years, with eight completed transactions since 2013, which have added $6.7 billion in assets. NIC’s most recent acquisition of Charter Bankshares, Inc. closed in 3Q22, added $1.1 billion in assets, and expanded the company into the western region of WI and into MN. Moving forward, management continues to evaluate the industry for potential acquisitions, though remains selective given the issues…