Nicolet Bankshares, Inc. Completes Merger with County Bancorp, Inc.

Rhea-AI Summary

Nicolet Bankshares (NCBS) has successfully completed its merger with County Bancorp (ICBK), with County merging into Nicolet, which is now the surviving corporation. This merger adds approximately $1.5 billion in assets, raising Nicolet's total assets to $8.0 billion. The combined entity's total loans increase to $4.5 billion and total deposits to $6.7 billion. Additionally, three branches of Investors Community Bank have transitioned to Nicolet National Bank, enhancing Nicolet's presence in Fox Valley and expanding into new markets in Stevens Point and Manitowoc, Wisconsin.

Positive

• Increased total assets to approximately $8.0 billion due to the merger.
• Total loans rise to approximately $4.5 billion, enhancing financial stability.
• Total deposits increase to approximately $6.7 billion, boosting liquidity.
• Expansion of operations with three new branches enhancing presence in key markets.

Negative

• None.

GREEN BAY, Wis., Dec. 6, 2021 /PRNewswire/ -- Nicolet Bankshares, Inc. (NASDAQ: NCBS) ("Nicolet") completed its merger with County Bancorp, Inc., (NASDAQ: ICBK) ("County"), as a result of which, County merged with and into Nicolet, with Nicolet being the surviving corporation.  Immediately following the merger, County's wholly-owned banking subsidiary, Investors Community Bank ("Investors"), was merged with and into Nicolet National Bank.

Based on initial financial data, the addition of County added approximately $1.5 billion in assets to increase Nicolet's total assets to approximately $8.0 billion.  Total loans of the combined company will increase to approximately $4.5 billion, and total deposits will increase to approximately $6.7 billion. 

The systems integration was completed, and three branches of Investors opened as Nicolet National Bank branches, with one opening in Grand Chute, WI, expanding Nicolet's presence in the Fox Valley area, and two opening in new markets in Stevens Point, WI and Manitowoc, WI.

About Nicolet Bankshares, Inc.

Nicolet Bankshares, Inc. is the bank holding company of Nicolet National Bank, a growing full-service, community bank providing services ranging from commercial and consumer banking to wealth management and retirement plan services. Founded in Green Bay in 2000, Nicolet National Bank operates branches in Northeast and Central Wisconsin, the upper peninsula of Michigan, and Northern Michigan. More information can be found at www.nicoletbank.com.

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SOURCE Nicolet Bankshares, Inc.

FAQ

What is the significance of the merger between Nicolet Bankshares and County Bancorp?

The merger significantly increases Nicolet's total assets, loans, and deposits, positioning it as a stronger entity in the banking sector.

How will the merger affect Nicolet Bankshares' market presence?

Nicolet will expand its market presence with three new branches, enhancing service availability in Fox Valley and entering new markets.

What are the financial implications of the merger for NCBS and ICBK shareholders?

The merger is expected to improve financial metrics for Nicolet shareholders, including increased assets, loans, and deposits.

When was the merger between Nicolet Bankshares and County Bancorp completed?

The merger was completed on December 6, 2021.