RankingBanking 25 - Flipbook - Page 29
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It is a mission that goes back to day one, and they
alternatives would have felt like getting a loan
continue to live by it today,” he says.
and the banker becoming an overseer rather than
The company’s stock price has increased by
partner,” he says.
almost 300% since Nicolet’s stock moved from
“Their willingness to take a risk on me in that
being traded over the counter to being listed on
situation was something that you don’t lose sight
the Nasdaq in 2016. That beats the KBW Nasdaq
of. You don’t forget,” Dykema adds. “There are a
bank stock index by a significant margin over that
lot of stories like mine within the northeast Wis-
time period. “Their stock price has outperformed,”
consin and northern Michigan communities, and all
McEvoy adds. “It goes back to their three circles
those communities are better [because of] them.”
philosophy — customers, employees and share-
Beyond the Green Bay community, Daniels is
holders. They have done a phenomenal job of
well respected with investors and the banking
executing on that strategy in the upper Midwest.”
industry at large, McEvoy says. He is known for
Dykema says Daniels and Atwell embodied
being a straight shooter who wants to be success-
those values when they started the bank rather
ful but also recognizes that it takes a team to
than creating them through committee. “As a
achieve that, he adds. Daniels will be quick to talk
result, I would say the vision defines who they are
up the abilities of other executives on the manage-
as opposed to someone defining what they wanted
ment team. “He is very supportive of the people
the bank to be,” he says.
around him.”
When the duo still worked for Associated,
When asked what has driven Nicolet’s steady
they gave Dykema his first loan to buy his first
rise in Bank Director’s RankingBanking, Daniels is
business in 1998. He is now CEO of Campbell
quick to say, “Our people.” He recognizes that it’s
Wrapper Corp. and Circle Packaging Machinery,
the employees who really make a difference in their
which manufacture machinery that companies in
communities and make the Nicolet brand matter to
the food, medical and pharmaceutical, and other
the far corners of the bank’s footprint. “You start
industries use to package their products. When
a company in your basement. You have an idea,
Atwell and Daniels left Associated, Dykema “tran-
and it’s very driven around you,” he adds. “And
sitioned over as quickly” as he could to become a
the goal is to make sure it becomes less about you
customer of Nicolet. He joined the boards of both
and more about a thousand people showing up and
the bank and the holding company in 2006.
getting behind the brand … and figuring out what
Atwell served as Nicolet’s chairman and CEO
shared success and mattering means.”
until April 2021 when he relinquished his CEO role
Banking is an incredibly complex industry
and became the institution’s executive chairman.
and difficult to succeed in. There are all of the
Daniels took on the chairman title last year, and
regulations that institutions must follow, and a
Atwell continues to serve on the board as a director.
business model that is highly leveraged, funded by
Dykema has always been struck by Daniels and
demand deposits that can disappear at any time.
Atwell’s ability to understand credit risk, starting
But something else haunts Daniels more than any
with evaluating character and a business plan,
of that.
and later the potential collateral. Back in the
“Someone once said, ‘What keeps you up at
1990s, Dykema noted that while he may have had
night?’ You know what that is? What if we stop
alternatives when looking for that first loan, none
mattering?”
of the options “would have felt like a partnership
of someone believing in and betting on me. Other
Jackie Stewart is executive editor of Bank Director.
