Sunwest Bank Has Entered into a Definitive Agreement to Acquire the Former MidWestOne and Bank of Denver Branches from Nicolet National Bank

SANDY, Utah and DENVER, April 21, 2026 /PRNewswire/ -- Sunwest Bank, the Bank for Entrepreneurs by Entrepreneurs, has entered into a definitive agreement to acquire the former MidWestOne and Bank of Denver branches from Nicolet National Bank.

This acquisition furthers Sunwest's expansion across the Rocky Mountain region by significantly increasing its presence in Colorado.  This expansion allows Sunwest to further invest in the Denver market by increasing the bank's client base, branch presence, and team of experienced banking professionals.  Sunwest initially launched in the Colorado market in 2025 and since has hired Kari Coover as Colorado Market President, Donika McKelvie as National Director of Healthcare Banking, and Joe Seroke as Managing Director of Commercial Real Estate nationwide.

"The acquisition of the former Bank of Denver and MidWestOne branches is a significant milestone for our growth in Colorado," said Carson Lappetito, President of Sunwest Bank. "We are investing heavily in Denver and look forward to delivering the exceptional customer experience we are known for to entrepreneurs and clients in Denver and throughout the state of Colorado."

Sunwest is expanding its presence through the acquisition of the former Bank of Denver and MidWestOne banking offices, bringing its established strength, security, and customer experience to a broader client base. Founded in 1969, the bank has built a reputation for combining advanced technology with high-touch customer service. This expansion adds greater product depth and diversity, deep market expertise, and direct access to decision-makers, enhancing the overall client experience and supporting business growth.

"We are building something special here, a team of top talent committed to delivering strategic guidance, creative solutions, and exceptional service. I look forward to welcoming new businesses, strengthening existing relationships, and growing market share across Colorado by helping our clients turn opportunity into lasting success," said Kari Coover, Sunwest Bank's Colorado Market Area President.

This expansion further strengthens their commitment to the market and allows Sunwest to offer a broader branch network to their existing customers and enhanced banking and innovative solutions to their newly acquired clients.

According to Robert Faver, Sunwest Bank's Chief Banking Officer, "Our continued expansion across the Mountain West creates a strong foundation for future growth.  We have a strong leadership team in Colorado that is deeply connected to the market and has a long history of providing high-touch relationship-focused banking."

About Sunwest Bank

Founded in 1969, Sunwest Bank is a privately held commercial bank with over $4.0 billion in assets. With a growing presence throughout the United States, Sunwest is headquartered in Sandy, Utah, with offices across California, Arizona, Idaho, Colorado, Utah, and Florida. The bank partners with businesses, individuals, and entrepreneurs nationwide to deliver leading banking services including technology forward treasury management, commercial and real estate lending products, and corporate financial solutions.

With a strong capital position and a commitment to innovation, Sunwest Bank continues to challenge traditional banking models through forward-thinking initiatives designed to support its clients' growth and long-term success. Sunwest Bank operates with a Fortress Balance Sheet, long-term outlook, and has an impeccable track record of supporting their clients through all economic cycles.

Sunwest Bank provides:

• Consistency and reliability – unwavering stability through economic cycles, mergers, and system transitions.
• Direct access to decision-makers – no call centers, just responsive, relationship-driven service all the way to the top of the organization.
• Financial strength and security – through prudent credit and balance sheet management, Sunwest's Fortress Balance Sheet and culture allow them to navigate all economic cycles.
• A conservative, forward-looking approach – ensuring that its strength continues to translate into opportunity for the businesses they serve.

Sunwest Bank remains strong, stable, and focused on its clients. Their entrepreneurial culture allows them to maintain the flexibility and responsiveness that other institutions often lose as they grow. Sunwest believes strength begins with discipline, and their financial foundation reflects that philosophy.

For Entrepreneurs by Entrepreneurs, Sunwest Bank is a Member FDIC and Equal Housing Lender. More information can be found at www.sunwestbank.com.

To stay updated on Sunwest Bank's continued Colorado expansion and the progress of this acquisition, please visit: www.sunwestbank.com/bank-of-denver-acquisition.

About Nicolet Bankshares, Inc.

Nicolet Bankshares, Inc. is a bank holding company of Nicolet National Bank, a growing, full-service, community bank providing services ranging from commercial, agricultural and consumer banking to wealth management and retirement plan services. Founded in Green Bay in 2000, Nicolet National Bank operates branches primarily in Wisconsin, Michigan, Minnesota, and Iowa. More information can be found at www.nicoletbank.com.