For the fifth time in six years, Nicolet National Bank is getting a little bigger after its parent company acquired Michigan-based Mackinac Financial on Monday. The acquisition is valued at $248 million and includes Mackinac Financial’s 28 mBank locations. Nicolet’s purchase of Mackinac Financial will allow customers in Michigan and northern Wisconsin access to wealth management services and larger business loans. Nicolet National Bank President and CEO Mike Daniels says the positive impact of the sale will also be felt by its current customers.
Daniels also pointed out that acquiring Mackinac Financial adds to the culture Nicolet National Bank has established as a community bank and the local decision-making that comes with it. The recent string of acquisitions for Nicolet National Bank started in 2015 when it purchased Sturgeon Bay-based Baylake Bank.