Nicolet Bankshares in Green Bay, Wis., has decided that having one leader is sufficient.

The $1.2 billion-asset Nicolet disclosed in a regulatory filing Thursday that Robert Cera, who had shared the chairman, president and chief executive roles with Bob Atwell, was no longer at the company. The filing described the move as a "mutual" decision, noting that it would pay Cera $2 million in coming weeks as part of the termination agreement.

Cera had been chairman and CEO of Baylake Corp., which Nicolet acquired in April. He also agreed to step down from Nicolet's board.

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