GREEN BAY, Wis. — Nicolet National Bank intends to reduce its total number of locations with the consolidation or closure of 15 bank branches, including two in Florence County.
The branches that will consolidate or close are Aurora, Florence, Eagle River, Dorchester, Mosinee, Rib Lake, St. Germain and Three Lakes in Wisconsin and Menominee, West Ishpeming, Negaunee and Marquette (McClellan Avenue), Alanson, Kaleva and Mio in Michigan.
Nicolet Bankshares Inc. has notified employees of the affected branches, and customer notification letters were also being issued, the company said in a recent news release.
The branches are anticipated to close Dec. 10.
On Sept. 3, Nicolet completed its merger with Mackinac Financial Corporation, as a result of which Mackinac merged with and into Nicolet, with Nicolet continuing as the surviving corporation. Immediately following the merger, Mackinac’s wholly owned bank subsidiary, mBank, was merged with and into Nicolet National Bank.
Based on financial data of June 30, the combined company has total consolidated assets of approximately $6.1 billion.
“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,” said Mike Daniels, president and CEO of Nicolet. “Convenience is being redefined as a seamless, frictionless experience through all channels. While 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. We intend to find the right balance of investing in traditional branch channels and non-branch channels. This announcement is a logical and thoughtful action to find that balance.”
In addition, Nicolet National Bank has entered into a definitive purchase and assumption agreement to sell its Birmingham, Michigan branch, including legacy mBank’s asset-based lending team, to Bank of Ann Arbor.
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