Nicolet Bankshares, Inc. and Baylake Corp. to Merge
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Nicolet Bankshares, Baylake Corp. (BYLK) to Merge in $141M Deal
September 8, 2015 5:31 PM EDTNicolet Bankshares, Inc. (OTCQB: NCBS) and Baylake Corp. (NASDAQ: BYLK) jointly announce the signing of a definitive merger agreement under which Nicolet and Baylake will merge to create the largest community bank north of Milwaukee.
Based on the financial results as of June 30, 2015, the combined company would have total assets of $2.2 billion, deposits of $1.8 billion and loans of $1.6 billion. The merger is expected to create the fourth largest bank headquartered in Wisconsin by deposit market share. The combined company will have an expanded geography with 41 branches in Northeast and Northcentral Wisconsin and the upper peninsula of Michigan.
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