Nicolet Bankshares to acquire Charter Bankshares for ~$158M in stock and cash

NICOLET BANKSHARES INC

Consideration: 1.26M NCBS shares + ~$38.8M cash, total ~$158M at $94.40/share.
Deal multiple: 1.67x adjusted tangible book value and ~12.4x 2021 tax-adjusted EPS.
EPS accretion estimated high-single digits in 2023; accretive to tangible book value.
Paul Kohler to lead Western WI & Twin Cities market; Brenda Johnson to join Nicolet boards.
Expected close Q3 2022, subject to regulatory and shareholder approvals.

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