Buyer:
Nicolet Bankshares, Inc.
Actual Acquirer:
Target:
Advantage Community Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
3/2/2020
Announcement Date:
Announced Deal Value ($ M):
NA
Status:
Completed
Completion Date:
8/21/2020
Announced Deal Value Per Share ($ )
The terms of the cash deal were not disclosed. Target financials are for Advantage Community Bank.
Party Advised
Adviser Hired?
Firm Name : NA
Firm Name : Wipfli Corporate Finance
Firm Name : Bryan Cave Leighton Paisner
Firm Name : Boardman & Clark LLP
2/17/2020
129.58
Terminated
5/18/2020
83.17
Nicolet Bankshares Inc. would have exchanged 1.15 shares of its common stock for each of the remaining outstanding share of Commerce Financial Holdings Inc. In addition to this, outstanding stock options would have received in cash approximately $2.6 million. Target financials are for Commerce State Bank. Exchange ratio was subject to adjustment based on Nicolet Bankshares Inc.’s closing price within a $62.00-82.00 cap/floor.
Firm Name : Hillworth LLC
Adviser Hired? : Yes
Firm Name : Reinhart Boerner Van Deuren sc
Choice Bancorp, Inc.
6/26/2019
6/27/2019
72.06
11/8/2019
30.57
Nicolet Bankshares Inc. exchanged 0.497 shares of its common stock for each of the remaining outstanding share of Choice Bancorp Inc. Common stock consideration was subject to adjustment based on Nicolet Bankshares Inc. closing price within a $55.00-$67.00 cap/floor. Nicolet Bankshares Inc. also assumed Choice Bancorp Inc.’s certain debt.
Firm Name : Stephens Inc.
Firm Name : Reinhart Boerner Van Deuren
First Menasha Bancshares, Inc.
11/3/2016
11/4/2016
74.13
4/28/2017
130.56
Nicolet Bankshares Inc. paid $131.50 per share in cash or exchanged 3.1260 shares of its common stock for each of the outstanding share of First Menasha Bancshares Inc., subject to 75% of the consideration being paid in stock. Exchange ratio was subject to adjustment based on Nicolet Bankshares Inc.'s closing price within a $33.55-$43.55 cap/floor. Nicolet Bankshares Inc. also assumed First Menasha Bancshares Inc.'s Trust Preferred Securities.
Baylake Corp.
9/8/2015
142.72
4/29/2016
15.02
In a merger of equals, Nicolet Bankshares Inc. exchanged 0.4517 shares of its common stock for each outstanding share of Baylake Corp. common stock. In addition, Baylake Corp. declared and paid a special cash dividend of $0.40 per share to its shareholders prior to the closing of the merger. Nicolet Bankshares Inc. also assumed Baylake Corp.'s Trust Preferred Securities and Trust Debentures.
Firm Name : Keefe Bruyette & Woods Inc. (Fairness Opinion)
Firm Name : Sandler O'Neill & Partners LP
Mid-Wisconsin Financial Services, Inc.
11/28/2012
10.19
4/26/2013
6.15
Nicolet Bankshares Inc. exchanged 0.3727 shares of its common stock for each outstanding share of Mid-Wisconsin Financial Services Inc. Nicolet Bankshares Inc. also assumed $10.3 million of junior subordinated debentures.
Firm Name : Raymond James & Assoc. Inc.
Firm Name : Barack Ferrazzano Kirschbaum
Nicolet National Bank
4 Branches
Seller:
Anchor BanCorp Wisconsin Inc.
5/4/2010
5/5/2010
Number of Target
4
Branches
De Pere (2) WI
Branch Locations
5,862
7/23/2010
Firm Name : Michael Best & Friedrich LLP
1 Branch
Republic Bancorp Inc.
9/19/2003
1
Menominee MI
350
3.03
12/5/2003
Firm Name : Powell Goldstein LLP
Adviser Hired? : NA
FDIC
Government Assisted
Type of Govt Assisted
Purchase/ Assumption
Transaction:
8/9/2013
Date Placed in Conservatorship:
16,208
Estimated Cost to Reg Agency ($ 000)
39.86
Cost to Reg Agency/ Deposits (%)
Cost to Reg Agency/ Assets (%)
37.21
Assets Sold/ Assets (%)
68.63
Green Bay, Wis.-based Nicolet Bankshares Inc. unit Nicolet National Bank has assumed all of the deposits and purchased certain assets of Wausau, Wis.-based Bank of Wausau. Bank of Wausau had total core deposits of approximately $37.82 million as of June 30, 2013. Bank of Wausau is the 18th FDIC-insured institution to fail in the nation this year, and the second in Wisconsin.
Nicolet Bankshares Inc. did not pay any premium to the FDIC to assume all of the deposits of Bank of Wausau. Nicolet Bankshares Inc. also purchased certain assets of the failed bank at a certain discount. The FDIC will retain the remaining assets for later disposition.
Firm Name : Hovde Group LLC
Navigator Planning Group, LLC
Securities & Investments Company
4/1/2016
1/25/2016
Nicolet Bankshares Inc. paid approximately $0.8 million in cash and issued $2.6 million of Nicolet's common stock to acquire Navigator Planning Group LLC. In addition to this, Nicolet Bankshares recorded a $1.5 million earn-out liability payable to one principal in the future (which may require adjustment based on change in initial business purchased over a period, but not contingent upon the principal’s employment).
Brookfield Investment Partners, LLC
5/14/2008
5/31/2008
The terms of the deal were not disclosed.
Charter Bankshares, Inc.
3/30/2022
$158
Pending
Firm Name : Hovde Group, LLC
Firm Name : Nelson Mullins Riley & Scarborough
County Bancorp, Inc.
6/22/2021
$226.0
12/3/2021
34.99
Firm Name : Keefe, Bruyette & Woods
Firm Name : Barack Ferrazzano Kirschbaum & Nagelberg
Mackinac Financial Corporation
4/12/2020
$248.3
9/3/2021
23.21
Firm Name : Hovde Group, LLC (Fairness Opinion)
Firm Name : Piper Sandler & Co.
Firm Name : Honigman LLP