Baylake Corporation, the holding company of Baylake Bank, has announced the signing of a definitive agreement for a merger with Nicolet Bankshares Incorporated. The merger will create the largest community bank north of Milwaukee. Based on financial results as of June 30th, the combined company would have assets of $2.2 billion, deposits of $1.8 billion, and, loans of $1.6 billion, creating the fourth largest bank headquartered in Wisconsin with 41 branches in northeast and northcentral Wisconsin and Michigan’s upper peninsula. The merger agreement has been approved by the board of directors of each company and is expected to close during the first half of 2016. The combined company will operate under the Nicolet National Bank brand and the corporate headquaretrs will be in Green Bay.
