Exhibit 2.1 Agreement and Plan of Merger by and between Nicolet Bankshares, Inc. And Mackinac Financial Corporation

• Date: 20 December 2021
• Section: Merger Agreements

EXHIBIT 2.1

AGREEMENT AND PLAN OF MERGER

BY AND BETWEEN

NICOLET BANKSHARES, INC.

AND

MACKINAC FINANCIAL CORPORATION

APRIL 12, 2021

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TABLE OF CONTENTS

Article 1 THE MERGER 1

Section 1.1 The Merger 1

Section 1.2 Effective Time; Closing 1

Section 1.3 Effects of the Merger 2

Section 1.4 Organizational Documents of the Surviving Entity 2

Section 1.5 Directors and Officers of the Surviving Entity 2

Section 1.6 Location of the Surviving Entity 2

Section 1.7 Bank Merger 2

Section 1.8 Absence of Control 2

Section 1.9 Alternative Structure 2

Article 2 CONVERSION OF SECURITIES IN THE MERGER 2

Section 2.1 Consideration 2

Section 2.2 Exchange of Company Stock Certificates 3

Section 2.3 Cancellation of Shares 4

Section 2.4 No Fractional Shares 4

Section 2.5 Dissenting Shares 4

Section 2.6 Nicolet Common Stock 4

Article 3 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 5

Section 3.1 Company Organization 5

Section 3.2 Subsidiary Organizations 5

Section 3.3 Authorization; Enforceability 5

Section 3.4 No Conflict 5

Section 3.5 Capitalization 6

Section 3.6 Company Subsidiary Capitalization 7

Section 3.7 Company SEC Reports; Financial Statements and Reports; Regulatory

Filings 7

Section 3.8 Books and Records 8

Section 3.9 Properties 9

Section 3.10 Loans; Loan Loss Reserve 9

Section 3.11 Taxes 10

Section 3.12 Employee Benefits 11

Section 3.13 Compliance with Legal Requirements 13

Section 3.14 Legal Proceedings; Orders 14

Section 3.15 Absence of Certain Changes and Events 14

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Section 3.16 Material Contracts 15

Section 3.17 No Defaults 16

Section 3.18 Insurance 16

Section 3.19 Compliance with Environmental Laws 16

Section 3.20 Transactions with Affiliates 16

Section 3.21 Brokers; Opinion of Financial Advisor 16

Section 3.22 Approval Delays 17

Section 3.23 Labor Matters 17

Section 3.24 Intellectual Property 17

Section 3.25 Investments 17

Section 3.26 Absence of Undisclosed Liabilities 18

Section 3.27 Bank Secrecy Act; PATRIOT Act; Anti-Money Laundering 18

Section 3.28 Disaster Recovery and Business Continuity 18

Article 4 REPRESENTATIONS AND WARRANTIES OF NICOLET 19

Section 4.1 Nicolet Organization 19

Section 4.2 Nicolet Subsidiary Organizations 19

Section 4.3 Authorization; Enforceability 19