Nicolet quickly announces another Wisconsin acquisition

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Nicolet Bankshares in Green Bay, Wis., has agreed to buy its second bank in less than a month.

The $3.1 billion-asset company said in a press release Monday that it will acquire Advantage Community Bancshares in Wausau, Wis. The deal is expected to close in the third quarter.

Nicolet did not disclose the price it will pay for the $150 million-asset Advantage.

“We continue to find great partners who want to get back to the heart of community banking,” Mike Daniels, Nicolet’s president and CEO, said in the release.

“Banking is still a people-driven business and we have found experienced bankers at Advantage who have a solid reputation for serving their customers,” Daniels added. “When we combine Advantage with the commercial lenders we added in Wausau two months ago, we have a solid strategic hub in central Wisconsin.”

Nicolet agreed last month to buy Commerce Financial Holdings in West Bend, Wis., for $129.6 million in stock. That deal is expected to close in the third quarter.

Bryan Cave Leighton Paisner advised Nicolet. Wipfli Corporate Finance Advisors and Boardman & Clark advised Advantage.

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