04:38 AM EDT, 10/24/2025 (MT Newswires) -- Nicolet Bankshares ( NIC ) has agreed to acquire MidWestOne Financial (MOFG) and its MidWestOne Bank banking subsidiary in an all-stock transaction valued at approximately $864 million, the companies said Thursday.

Under the terms of the agreement, MidWestOne shareholders are to receive 0.3175 of a share of Nicolet common stock for each share of MidWestOne they own, a valuation of about $41.37 per share, based on Nicolet's Wednesday closing price, the companies said.

Upon completion of the proposed merger, which has already been approved by both companies' boards, MidWestOne shareholders are expected to comprise 30% of the new company's shares, the companies said.

The proposed merger will create a community bank with over $15 billion in assets, the companies said.

Excluding merger-related charges, the transaction is anticipated to be approximately 37% accretive to 2026 earnings, the companies said.

The transaction is expected to close in H1 2026, the companies said.