Nicolet completes $230M Mackinac merger, plans 15 branch closures, sells Birmingham branch to Bank of Ann Arbor

NICOLET BANKSHARES INC

Merger consideration ~$230M: each Mackinac share exchanged for 0.22 Nicolet shares + $4.64 cash.
Nicolet issued ~2.3M shares (valued at $76.74) and paid ~$50M cash to close deal.
Plans to consolidate/close 15 branches in WI and MI, effective Dec 10, 2021.
Agreed to sell Birmingham, MI branch to Bank of Ann Arbor; branch had $176M loans and $57M deposits at Aug 31, 2021.
Pro forma combined company had ~$6.1B total assets as of June 30, 2021; Paul D. Tobias appointed to board.

item 2.01 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Paul D. Tobias

Director

NIC · NICOLET BANKSHARES INC

Effective: 2021-09-03
Filed: September 7, 2021, 7:59 PM ET

appointed Paul D. Tobias, a former member of the Mackinac board of directors, to fill the vacancy created by this increase.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Paul D. Tobias was appointed as Director at NICOLET BANKSHARES INC.

Action: appointed
Role: Director

Exact text from the filing

appointed Paul D. Tobias, a former member of the Mackinac board of directors, to fill the vacancy created by this increase.

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NICOLET BANKSHARES INC filing history →

Source: SEC EDGAR

accession 0001174850-21-000066

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