NCBS - Nicolet Bankshares Charter Bankshares execute merger deal

Nicolet Bankshares (NASDAQ:NCBS) and Charter Bankshares have jointly executed a definitive merger agreement, pursuant to which Nicolet will acquire Charter and its wholly-owned banking subsidiary, Charter Bank. Charter shareholders will receive ~1.26M shares of Nicolet and ~$38.8M in cash payment. The merger consideration is valued at ~$158M. The transaction, approved by the boards of directors of both companies, is expected to close in the third quarter of 2022 following receipt of necessary regulatory approvals. Headquartered in Eau Claire, Wisconsin, Charter is a $1.1B bank, with offices in Chetek, Wisconsin and Chanhassen and Chaska, Minnesota.  A new office is currently being built in Chippewa Falls, Wisconsin. Upon deal closing, all Charter branches are anticipated to become Nicolet branches. Nicolet's loan production office, located at Eau Claire, Wisconsin, is expected to close and consolidate with continued service out of the legacy Charter office in Eau Claire, Wisconsin. The deal will provide solid

For further details see:

Nicolet Bankshares, Charter Bankshares execute merger deal