MidWestOne Bank Enters Merger Agreement with Nicolet Bank
On October 23, MidWestOne Financial Group, Inc. and Nicolet Bankshares, Inc., jointly announced the merger agreement where Nicolet will acquire MidWestOne. The combined company will have bank assets totaling approximately $15 billion, with $9 billion in wealth AUM, making the company one of the premier banks in the Upper Midwest.
Customers will continue to work with the same dedicated teams and enjoy the personalized service they have come to rely on. The benefits of the merger include:
- Expanded capabilities and services. Customers will gain access to enhanced digital tools, specialized lending options, and more robust financial planning resources.
- Stronger financial foundation. The combined institution will be better positioned to invest in innovation, provide greater lending capacity and support local businesses.
- Shared vision and community banking values. This merger is built on a shared vision of sustainable growth, and a deep-rooted commitment to personalized service, local decision-making, and community involvement.
See merger details in the following Press Release.
Questions & Answers
We recognize that this announcement may raise questions and wish to assure you of our commitment to transparency.
Further updates will be communicated on this page as additional details are made available.
What is happening between MidWestOne and Nicolet Bankshares?
A definitive agreement was signed to merge MidWestOne Financial Group, Inc. with and into Nicolet Bankshares, Inc. Nicolet will acquire MidWestOne and its subsidiary, MidWestOne Bank.
Why are the companies merging?
This merger is part of a strategic plan to accelerate growth while preserving the entrepreneurial spirit of both organizations. Together, we will be a stronger community bank.
What will the combined company look like?
Once integrated, the combined company will have bank assets totaling approximately $15 billion, with $9 billion in wealth AUM, making the company one of the premier banks in the Upper Midwest.
What are the benefits of the merger?
The benefits of the merger include:
- Expanded capabilities and services. Customers will gain access to enhanced digital tools, specialized lending options, and more robust financial planning resources.
- Greater convenience and access. With a larger geographic footprint, customers will benefit from more branch locations and service coverage. Enhanced digital and mobile banking platforms will make banking easier and more accessible.
- Stronger financial foundation. The combined institution will be better positioned to invest in innovation, provide greater lending capacity, and support local businesses.
- Shared vision and community banking values. This merger is built on a shared vision of sustainable growth, and a deep-rooted commitment to personalized service, local decision-making, and community involvement. These values will not only be preserved – they will be amplified.
Do customers need to take any action right now?
No. There are no immediate changes, and customers will continue to receive the same excellent service they have always depended on from MidWestOne Bank.
Will my accounts or services change?
Not at this time. We are in the early stages of the merger, and any decisions affecting customer accounts will be communicated clearly and with advanced notice.
How will this affect customer experience?
The merger will enhance convenience and access, allowing us to better serve customers through improved products, services, and technology.
How will you keep customers informed?
We will share updates as soon as decisions are finalized and confirmed. Transparency and communication are priorities throughout this process.
What does the merger mean for Private Wealth clients?
Nicolet is a national bank with trust powers that enable corporate trustee services across the country. The company will have a combined $9 billion in AUM and provide expanded financial planning and retirement plan solutions.