By Wendy Van Sickle
Columbus, Ohio, July 7 – Nicolet Bankshares, Inc. entered into a $100 million purchase agreement for fixed-to-floating rate subordinated notes due July 15, 2031, according to an 8-K filing with the Securities and Exchange Commission.
The initial rate is 3.125%. Starting on July 15, 2026, the interest rate will reset to SOFR plus 237.5 basis points, payable quarterly in arrears.
The notes are redeemable starting on the first reset date at par plus interest to the date of redemption.
The notes are intended to qualify as tier 2 capital for regulatory capital purposes.
The holding company for Bank of Guam is based in Hagatna, Guam.
| Issuer: | Nicolet Bankshares, Inc.
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| Issue: | Fixed-to-floating rate subordinated notes
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| Amount: | $100 million
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| Maturity: | July 15, 2031
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| Coupon: | 3.125% initial rate; resets to SOFR plus 237.5 bps on July 15, 2026
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| Call features: | Starting July 1, 2026 at par plus interest
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| Settlement date: | July 15
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