Customer-Focused Community Banking
Recently, a definitive agreement was signed to merge Charter Bankshares, Inc. with and into Nicolet Bankshares, Inc. Under terms of the agreement, Nicolet Bankshares, Inc. will acquire Charter Bankshares, Inc., and its subsidiary, Charter Bank.
See Frequently Asked Questions Below
What's Next?
There is a lot that will go on between now and the closing date.
There is nothing that the customer needs to do right now. It has been our experience that when announcements like this are made there is a feeling that customer accounts and/or services are impacted immediately. That is not the case. We expect our customers will see no difference in the level of service to which they are accustomed.
- We both built a successful, sustainable model of community banking and are excited to bring these two companies together. By completing this transaction, we will offer a level of convenience and access to our customers that is greater than either bank can deliver separately.
- We are very early in the process of combining and many of the decisions that may impact customer accounts have yet to be researched and discussed, much less finalized.
- The products and services that we offer are being looked at through the eyes of our customers.
- As we move through this transaction, we will communicate any and all information that will impact a customer as soon as it is known.
We are reaching out to remind you that Charter Bank plans to merge with Nicolet National Bank at the end of business on August 26, 2022. The purpose of this letter is to share some information about the anticipated merger and to let you know what is coming next.
Let’s start with why we are merging. This partnership combines our resources and people to serve customers and communities in western Wisconsin and Minnesota. We believe the best way to meet local needs is through local resources, now more than ever. Working together, we can help make the communities we serve stronger.
One thing that will not change with this merger is our focus on staying local. Decisions about banking-related matters and investments in the community will be made by those closest to the customer. Local decision-making is one of the key differences between our larger competitors and us.
In the coming weeks, you will receive letters from Nicolet Bank about new products and services and what happens during the weekend when we become one bank. If you have questions about the merger, contact your local banker or email [email protected] or [email protected]. Information will also be on our websites at charterbank.bank or nicoletbank.com.
We look forward to serving you.
Regards,
President & CEO
Charter Bank
President & CEO
Nicolet National Bank
Frequently Asked Questions
General Questions
When is the acquisition between Charter Bank and Nicolet National Bank taking place?
The acquisition will occur over the weekend of August 26th. All Charter branches will close after normal business hours on that Friday, and re-open on Monday, August 29th as Nicolet National Bank. Charter branches will not be open on Saturday, August 27th.
Will there be changes to my deposit account?
Charter accounts will be mapped into Nicolet products when they are converted to Nicolet National Bank. Rates and terms on CD’s will remain the same until maturity. We encourage customers to stop at their local branches to review their new products and learn about all the available options Nicolet National Bank has to offer.
Will there be changes to my loan?
No, all terms related to your loan will remain the same.
Will my account numbers change after the conversion?
In most cases, account numbers will remain the same. If your account number is changing a banker will contact you directly.
Can Charter customers still use their Charter checks after the acquisition?
Yes, you can continue to use your Charter checks after the acquisition. When you need to re-order checks, they will automatically be updated with Nicolet National Bank’s information.
Will ACH transactions still settle for Charter customers after the acquisition?
Yes, ACH transactions will settle as normal post acquisition. Nicolet Bank is acquiring Charters’ routing number however it is strongly encouraged that you work to update the routing number tied to your ACH transactions to reflect Nicolet Bank (075917937).
Will automatic transfers, automatic loan payments, and direct deposits continue to work?
Direct deposits will continue to be deposited directly into customer’s accounts. Automatic payments that are set up using a routing number and checking or savings account number (ACH) will continue to work. If payments were set up via your debit card, those will need to be updated with the new Nicolet Bank debit card information for transactions starting Monday, August 29th.
Will Nicolet or Charter phone numbers, including the main number for each bank, change due to the acquisition?
No, at the time of the acquisition, all phone numbers will remain unchanged.
How will account statements be handled due to the acquisition?
All checking, and savings accounts will receive a final statement from Charter as of August 26th. Electronic statement customers will receive the final statement in the mail. After the acquisition, all customers will receive their statements at month end. Electronic statement customers will see all future statements and notices through Nicolet National Bank’s Online Banking. Previous months statements will not be immediately available within Nicolet National Bank’s Online Banking. Downloading previous month’s statements prior is strongly encouraged.
Will any branch hours change?
No, there will be no changes to the branch hours.
How does Nicolet National Bank handle returned Deposit Items?
Nicolet National Bank’s standard return deposit item process is to automatically redeposit checks returned for insufficient funds. Nicolet charges $5.00 to the account that the check was originally deposited into and attempts to clear the item a second time. If the check is returned to Nicolet National Bank a second time unpaid, Nicolet charges the account that the check was originally deposited into for the amount of the check and a $10.00 fee. Nicolet National Bank encourages our customers to pass those fees (when incurred) onto the check writer.
Notification of 1st Return is sent the day the return is processed via email for eStatement customers. Notification of 2nd Return is sent in paper format as a “Copy in Lieu” of the original check along with details of the returned item. Requests for special handling of Return Deposit Items can be accommodated for a $15.00 fee.
If my preference is to not have returned deposit items automatically redeposited, or sent to a third- party on 1st return, who do I contact?
Anything outside of the Nicolet National Bank standard returned deposit item process dictated above is considered special handling and must be worked through the Treasury Management team. Please call 855-451-4793 or email [email protected] to speak with a representative.
Will my Safe Deposit Box charge change?
If your Safe Deposit Box charge is changing you will receive a 30-day notice. If you have additional questions regarding your Safe Deposit Box, please reach out to your local branch.
Debit, Credit, and ATM Card Questions
Will customers be receiving new Nicolet National Bank debit cards?
Yes, all customers who currently have active debit cards (activity in the prior 12 months), will be mailed a new Nicolet National Bank Mastercard® Contactless debit card the week of August 8th to be received prior to Saturday, August 27th.
Will Charter debit cards and/or PIN numbers change?
Card numbers will change. Customers may establish the same PIN number they have today when they call to activate their card.
When will my Charter debit cards stop working?
Discontinue using your Charter debit card by 8:00am on Monday, August 29th.
When will the new Nicolet National Bank debit cards start working?
The new Nicolet National Bank debit cards will start working at 7:00am on Monday, August 29th and are to be used going forward. Continue using your current Charter Bank debit card until 7:00am Monday, August 29th.
What will happen to recurring payments set up on my Charter debit card?
If you have automatic or recurring payments set up on your Charter debit card, be sure to provide the new Mastercard® debit card information to those merchants to start billing on Monday, August 29th. In most cases, you will be able to update the card information through a merchant’s website and/or mobile app. Examples may include: Amazon, Netflix, Hulu, gym memberships, subscription services.
Can I receive transaction alerts for activity on my new Nicolet Bank debit card(s)?
Yes, you can login to bankNOW, then tap My Cards (under Quick Links) to add your new Nicolet National Bank debit card for controls, alerts, and spend insights. Manage Travel Plans so we can help keep your card secure. Toggle your card On/Off for peace of mind. Receive notifications and set controls on where, when, and how your card is used by location, transactions type and spend limits. View insights including where your card information is stored on file or has recurring payments. Add your card to Apple Pay, Samsung Pay or Google Pay for a safer, more convenient way to pay in-store or online.
Will I have access to Fee-Free ATMs with my new Nicolet Bank debit card?
Yes, Nicolet National Bank is part of the MoneyPass ATM Network that provides access to 30,000+ Surcharge/Fee Free ATMs across the US.
Will Customers with ATM Only Charter Cards receive an ATM Only Nicolet Card?
No, Nicolet Bank does not offer ATM Only Cards. Charter Customers with ATM Only Cards will be grandfathered and receive a Nicolet Mastercard® Debit Card that will only allow ATM withdrawals.
Will I receive a new Credit Card to replace my Charter credit card account?
No, your current Charter VISA credit card will remain the same as it is today.
Digital Banking - Consumer
What will happen with online banking?
Charter online banking will be unavailable after 4:00pm CST on Friday, August 26th. Charter customers will need to log into Nicolet National Bank’s online banking using their current Username starting at 8:00am CST on Monday, August 29th. The temporary password will be the last 4 digits of their Tax ID.
What will happen with mobile banking?
Charters’ mobile banking will be unavailable after 4:00pm CST on Friday, August 26th. Charter customers will need to download Nicolet National Bank’s mobile app (Nicolet Bank bankNow) starting at 8:00am CST on Monday, August 29th.
What will happen with mobile deposit?
Charters’ mobile deposit will be unavailable after 4:00pm CST on Friday, August 26th. Charters’ customers will need to download Nicolet National Bank’s mobile app (Nicolet Bank bankNow) starting at 8:00am CST on Monday, August 29th.
What will happen with Bill Pay and Zelle?
Charters’ Bill Pay site will be unavailable after 4:00pm CST on Thursday, August 25th. All payments entered prior to this date and time will be converted to the Nicolet Bank Bill Pay service and processed. As of Monday, August 29th, log into your Nicolet National Bank Online Banking and resume Bill Pay and Zelle activity. Please plan ahead for new bills between the timeframe of 4:00pm CST on Thursday, August 25th and Monday, August 29th.
Will current recurring/automatic transfers set up on Charters’ Online Banking need to be reset on Nicolet National Bank’s online banking?
No, recurring and one-time internal transfers payment information will be converted.
What will happen with my account to account (A2A) transfers?
Charters’ Account to Account transfers will be unavailable after 8:00am CST on Friday, August 26th. As of Monday, August 29th, log into your Nicolet National Bank Online banking to access TransferNOW to establish your profile and re-establish your transfers.
What will happen with my online banking account alerts?
Customers will need to log into their Nicolet National Bank Online Banking and re-establish their account alerts.
If customers have accounts at both banks, will they see all of them when logging into online banking?
Yes, customers will be able to see all accounts on Monday, August 29th. Please reach out to your banker with any questions.
Digital Banking - Business
What will happen with online banking?
Charters’ online banking will be unavailable after 4:00pm CST on Friday, August 26th.
I login into online banking using “Business Hub” with Charter currently. How will my Business Users login with Nicolet National Bank on Monday, August 29th and beyond?
Business Users who currently login using the “Business Hub” option from the Charters website homepage will login via the “Business Online (Treasury Management)” dropdown on the Nicolet National Bank website. Questions may be directed to [email protected] or toll free to 855-451-4793.
My Company currently uses treasury management services such as ACH Origination and/or Remote Deposit Capture with Charter Bank. How will my Business Users continue to use these services on Monday, August 29th and beyond?
Charter Business Hub Administrative Users will receive information regarding treasury management services and user access directly from the Treasury Management Team at Nicolet National Bank as we get closer to merger date. Questions from now until then may be directed to [email protected] or toll free to 855-451-4793.
What will happen with mobile deposit?
Charters’ mobile deposit will be unavailable after 4:00pm CST on Friday, August 26th. Charter business customers will need to download Nicolet National Bank’s Business mobile app (bankNow Business) starting at 8:00am CST on Monday, August 29th.
What will happen with Bill Pay?
Charters’ Bill Pay site will be unavailable after 4:00pm CST on Thursday, August 25th. All payments entered prior to this date and time will be converted to the Nicolet Bank Bill Pay service and processed. As of Monday, August 29th, log into your Nicolet National Bank Online banking and resume Bill Pay activity. Please plan ahead for new bills between the timeframe of 4:00pm CST on Thursday, August 25th and Monday, August 29th.
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