Nicolet Bankshares Acquires Mackinac Financial Corporation (mBank)
April 12, 2021
Nicolet Bankshares, Inc. agreed to acquire Mackinac Financial Corporation and its wholly owned subsidiary mBank in a transaction valued at approximately $248 million. The deal, consisting of roughly 80% stock and 20% cash, expands Nicolet's community banking footprint into Northern Michigan and is expected to close in Q3 2021 subject to regulatory and shareholder approvals.
- Buyers
- Nicolet Bankshares, Inc.
- Targets
- Mackinac Financial Corporation, mBank
- Sellers
- Mackinac Financial Corporation shareholders
- Industry
- Financial Services
- Location
- Michigan, United States
- Transaction Type
- Buyout
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