{"id":534855,"date":"2021-09-07T08:34:16","date_gmt":"2021-09-07T12:34:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nicolet-bankshares-inc-announces-branch-optimization-strategy-to-better-align-with-customer-actions\/"},"modified":"2021-09-07T08:34:16","modified_gmt":"2021-09-07T12:34:16","slug":"nicolet-bankshares-inc-announces-branch-optimization-strategy-to-better-align-with-customer-actions","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nicolet-bankshares-inc-announces-branch-optimization-strategy-to-better-align-with-customer-actions\/","title":{"rendered":"Nicolet Bankshares, Inc. Announces Branch Optimization Strategy To Better Align With Customer Actions"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Nicolet announces reduction in branch locations, agreement to sell Birmingham, Michigan location to Bank of Ann Arbor, and completion of mBank acquisition<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">GREEN BAY, Wis.<\/span>, <span class=\"xn-chron\">Sept. 7, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Nicolet Bankshares, Inc. (NASDAQ: NCBS) (&#8220;Nicolet&#8221;) announced today that it intends to reduce its total number of locations with the consolidation or closure of fifteen branches, as well as the sale of its <span class=\"xn-location\">Birmingham, Michigan<\/span> location. \u00a0The branches that will consolidate or close are:\u00a0 In Wisconsin \u2013 <span class=\"xn-location\">Dorchester<\/span>, <span class=\"xn-location\">Mosinee<\/span>, <span class=\"xn-location\">Rib Lake<\/span>, <span class=\"xn-location\">St. Germain<\/span>, <span class=\"xn-location\">Three Lakes<\/span>, <span class=\"xn-location\">Aurora<\/span>, <span class=\"xn-location\">Florence<\/span>, and Eagle River.\u00a0 In Michigan \u2013 <span class=\"xn-location\">Menominee<\/span>, <span class=\"xn-location\">Alanson<\/span>, <span class=\"xn-location\">Kaleva<\/span>, <span class=\"xn-location\">Mio<\/span>, <span class=\"xn-location\">West Ishpeming<\/span>, <span class=\"xn-location\">Negaunee<\/span>, and <span class=\"xn-location\">Marquette<\/span> (<span class=\"xn-person\">McClellan Ave<\/span>).\u00a0 <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/325336\/nicolet_logo_4c_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/325336\/nicolet_logo_4c_Logo.jpg\" title=\"Nicolet Bankshares, Inc. Logo (PRNewsFoto\/Nicolet Bankshares, Inc.)\" alt=\"Nicolet Bankshares, Inc. Logo (PRNewsFoto\/Nicolet Bankshares, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Nicolet has notified employees in the affected branches, and customer notification letters are expected to be issued this week.\u00a0 The branches are anticipated to close on <span class=\"xn-chron\">December 10<\/span>, 2021.\u00a0\u00a0\u00a0<\/p>\n<p>\n        <span class=\"xn-person\">Mike Daniels<\/span>, President and CEO of Nicolet said, &#8220;As we stated in the mBank merger announcement, customers continue to tell and show us that convenience no longer means a branch on every corner.\u00a0 Convenience is being redefined as a seamless, frictionless experience through all channels. \u00a0While we still view the branch system as an effective way to serve our customers, we also recognize the need to continue our investments in digital channels. \u00a0We intend to find the right balance of investing in traditional branch channels and non-branch channels.\u00a0 This announcement is a logical and thoughtful action to find that balance.&#8221;<\/p>\n<p>Daniels continued, &#8220;For the last twenty years, the value that Nicolet brings to communities is great people who believe strongly in our purpose to serve.\u00a0 Our value has never been our locations but our people and our purpose.\u00a0 We will continue to deliver a great customer experience.&#8221;<\/p>\n<p>&#8220;This decision was made after many conversations and looking at all alternatives,&#8221; said <span class=\"xn-person\">Eric Witczak<\/span>, Executive Vice President, <span class=\"xn-person\">Nicolet National Bank<\/span>.\u00a0 &#8220;In most cases, we will have a branch nearby.\u00a0 In all cases, we will be able to serve our customers digitally, via online or mobile banking.\u00a0 We will make every effort to retain our customers and show them that we can still serve them.&#8221;<\/p>\n<p>In addition, Nicolet announced that its wholly owned banking subsidiary, <span class=\"xn-person\">Nicolet National Bank<\/span>, has entered into a definitive purchase and assumption agreement to sell its <span class=\"xn-location\">Birmingham, Michigan<\/span> branch, including legacy mBank&#8217;s asset-based lending team, to Bank of <span class=\"xn-location\">Ann Arbor<\/span>. As of <span class=\"xn-chron\">August 31, 2021<\/span>, the <span class=\"xn-location\">Birmingham<\/span> location had total loans of approximately <span class=\"xn-money\">$176 million<\/span> and total deposits of approximately <span class=\"xn-money\">$57 million<\/span>. Completion of the branch sale remains subject to regulatory approval and other customary closing conditions contained in the purchase and assumption agreement.<\/p>\n<p>Also, on <span class=\"xn-chron\">September 3, 2021<\/span>, Nicolet completed its merger with Mackinac Financial Corporation (&#8220;<span class=\"xn-location\">Mackinac<\/span>&#8220;), as a result of which <span class=\"xn-location\">Mackinac<\/span> merged with and into Nicolet, with Nicolet continuing as the surviving corporation.\u00a0 Immediately following the merger, <span class=\"xn-location\">Mackinac&#8217;s<\/span> wholly owned bank subsidiary, mBank, was merged with and into <span class=\"xn-person\">Nicolet National Bank<\/span>. Based on financial data of <span class=\"xn-chron\">June 30, 2021<\/span>, the combined company has total consolidated assets of approximately <span class=\"xn-money\">$6.1 billion<\/span>. <\/p>\n<p>\n        <b>About Nicolet Bankshares, Inc.<\/b>\n      <\/p>\n<p>Nicolet Bankshares, Inc. is the bank holding company of <span class=\"xn-person\">Nicolet National Bank<\/span>, a growing, full-service, community bank providing services ranging from commercial and consumer banking to wealth management and retirement plan services. Founded in <span class=\"xn-location\">Green Bay<\/span> in 2000, <span class=\"xn-person\">Nicolet National Bank<\/span> operates branches in Northeast and <span class=\"xn-location\">Central Wisconsin<\/span> and the upper peninsula of <span class=\"xn-location\">Michigan<\/span>. More information can be found at\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3280199-1&amp;h=3402545061&amp;u=http%3A%2F%2Fwww.nicoletbank.com%2F&amp;a=www.nicoletbank.com\" rel=\"nofollow noopener\">www.nicoletbank.com<\/a>.<\/p>\n<p>\n        <b>Forward Looking Statements &#8220;Safe Harbor&#8221; Statement Under the Private Securities Litigation Reform Act of 1995<\/b>\n      <\/p>\n<p>Certain statements contained in this communication, which are not statements of historical fact, constitute forward-looking statements within the meaning of the federal securities law. Such statements include, but are not limited to, statements about Nicolet&#8217;s business plans, objectives, expectations and intentions, including without limitation statements regarding Nicolet&#8217;s branch optimization strategy, including the timing of anticipated branch closures, and <span class=\"xn-person\">Nicolet National Bank&#8217;s<\/span> sale of its <span class=\"xn-location\">Birmingham, Michigan<\/span> branch, all of which are subject to numerous assumptions, risks and uncertainties. Words or phrases such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;aim,&#8221; &#8220;can,&#8221; &#8220;conclude,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;foresee,&#8221; &#8220;goal,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;outlook,&#8221; &#8220;possible,&#8221; &#8220;plan,&#8221; &#8220;predict,&#8221; &#8220;project,&#8221; &#8220;potential,&#8221; &#8220;seek,&#8221; &#8220;should,&#8221; &#8220;target,&#8221; &#8220;will,&#8221; &#8220;will likely,&#8221; &#8220;would,&#8221; or the negative of these terms or other comparable terminology, as well as similar expressions, are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.<\/p>\n<p>Forward-looking statements are not historical facts but instead express only management&#8217;s beliefs regarding future results or events, many of which, by their nature, are inherently uncertain and outside of management&#8217;s control. It is possible that actual results and outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements. In addition to factors disclosed in reports filed by Nicolet with the SEC, risks and uncertainties that may cause actual results or outcomes to differ materially from those anticipated include, but are not limited to: the possibility that the anticipated benefits of the branch optimization strategy will not be realized or that <span class=\"xn-person\">Nicolet National Bank<\/span> will be unable to complete the sale of its <span class=\"xn-location\">Birmingham, Michigan<\/span> branch; the magnitude and duration of the COVID pandemic and its impact on the global economy and financial market conditions and the business, results of operations and financial condition of Nicolet; and general competitive, economic, political and market conditions and fluctuations. Please refer to Nicolet&#8217;s Annual Report on Form 10-K for the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, as well as its other filings with the SEC, for a more detailed discussion of risks, uncertainties and factors that could cause actual results to differ from those discussed in the forward-looking statements.<\/p>\n<p>The COVID pandemic is adversely affecting us, our customers, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Continued deterioration in general business and economic conditions or turbulence in domestic financial markets could adversely affect Nicolet&#8217;s revenues and the values of its assets and liabilities, lead to a tightening of credit, and increase stock price volatility. In addition, the COVID pandemic may result in changes to statutes, regulations, or regulatory policies or practices that could affect Nicolet in substantial and unpredictable ways.<\/p>\n<p>All forward-looking statements included in this communication are made as of the date hereof and are based on information available to management at that time. Except as required by law, Nicolet does not assume any obligation to update any forward-looking statement to reflect events or circumstances that occur after the date the forward-looking statements were made.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG96291&amp;sd=2021-09-07\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/nicolet-bankshares-inc-announces-branch-optimization-strategy-to-better-align-with-customer-actions-301369320.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/nicolet-bankshares-inc-announces-branch-optimization-strategy-to-better-align-with-customer-actions-301369320.html<\/a><\/p>\n<p>SOURCE  Nicolet Bankshares, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CG96291&amp;Transmission_Id=202109070830PR_NEWS_USPR_____CG96291&amp;DateId=20210907\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nicolet announces reduction in branch locations, agreement to sell Birmingham, Michigan location to Bank of Ann Arbor, and completion of mBank acquisition PR Newswire GREEN BAY, Wis., Sept. 7, 2021 \/PRNewswire\/ &#8212;\u00a0Nicolet Bankshares, Inc. (NASDAQ: NCBS) (&#8220;Nicolet&#8221;) announced today that it intends to reduce its total number of locations with the consolidation or closure of fifteen branches, as well as the sale of its Birmingham, Michigan location. \u00a0The branches that will consolidate or close are:\u00a0 In Wisconsin \u2013 Dorchester, Mosinee, Rib Lake, St. Germain, Three Lakes, Aurora, Florence, and Eagle River.\u00a0 In Michigan \u2013 Menominee, Alanson, Kaleva, Mio, West Ishpeming, Negaunee, and Marquette (McClellan Ave).\u00a0 Nicolet has notified employees in the affected branches, and customer notification letters are expected to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nicolet-bankshares-inc-announces-branch-optimization-strategy-to-better-align-with-customer-actions\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Nicolet Bankshares, Inc. Announces Branch Optimization Strategy To Better Align With Customer Actions&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-534855","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nicolet Bankshares, Inc. Announces Branch Optimization Strategy To Better Align With Customer Actions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nicolet-bankshares-inc-announces-branch-optimization-strategy-to-better-align-with-customer-actions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nicolet Bankshares, Inc. Announces Branch Optimization Strategy To Better Align With Customer Actions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Nicolet announces reduction in branch locations, agreement to sell Birmingham, Michigan location to Bank of Ann Arbor, and completion of mBank acquisition PR Newswire GREEN BAY, Wis., Sept. 7, 2021 \/PRNewswire\/ &#8212;\u00a0Nicolet Bankshares, Inc. (NASDAQ: NCBS) (&#8220;Nicolet&#8221;) announced today that it intends to reduce its total number of locations with the consolidation or closure of fifteen branches, as well as the sale of its Birmingham, Michigan location. \u00a0The branches that will consolidate or close are:\u00a0 In Wisconsin \u2013 Dorchester, Mosinee, Rib Lake, St. Germain, Three Lakes, Aurora, Florence, and Eagle River.\u00a0 In Michigan \u2013 Menominee, Alanson, Kaleva, Mio, West Ishpeming, Negaunee, and Marquette (McClellan Ave).\u00a0 Nicolet has notified employees in the affected branches, and customer notification letters are expected to &hellip; Continue reading &quot;Nicolet Bankshares, Inc. 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(NASDAQ: NCBS) (&#8220;Nicolet&#8221;) announced today that it intends to reduce its total number of locations with the consolidation or closure of fifteen branches, as well as the sale of its Birmingham, Michigan location. \u00a0The branches that will consolidate or close are:\u00a0 In Wisconsin \u2013 Dorchester, Mosinee, Rib Lake, St. Germain, Three Lakes, Aurora, Florence, and Eagle River.\u00a0 In Michigan \u2013 Menominee, Alanson, Kaleva, Mio, West Ishpeming, Negaunee, and Marquette (McClellan Ave).\u00a0 Nicolet has notified employees in the affected branches, and customer notification letters are expected to &hellip; Continue reading \"Nicolet Bankshares, Inc. 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