Members of Regional Australia Bank and Summerland Bank have voted to approve a merger that will create a financial institution managing assets exceeding AUD $5 billion. The combined entity will serve more than 130,000 members through a network of 49 branches across regional New South Wales and southern Queensland.
Merger approval
The proposed merger secured overwhelming support from both banks’ members during recent meetings. Over 96 percent voted in favour of the move, clearing the path for integration. Once finalised, the merged institution will become a notable presence within the mutual banking sector for regional communities.
Operations continuity
Both organisations emphasised that there will be no branch closures and no staff redundancies as a result of the merger. Services, accounts, and member support are expected to continue without interruption while the integration process takes place.
Speaking about the outcome of the member vote, David Heine, Chief Executive Officer of Regional Australia Bank, said, “We are thrilled that our members have embraced this merger. Today’s vote reinforces our commitment to regional Australia by growing our ability to serve more towns and communities throughout regional NSW and into Queensland.”
Branch network
The merged bank will operate 49 locations across a broad area, increasing its reach in both New South Wales and Queensland. This expansion is intended to provide more access points for banking services, particularly in rural and regional areas where service continuity remains an important concern for local communities.
Michael Fenech, Chair of Regional Australia Bank, said, “Our members have voted to merge two strong mutual banks into one stronger customer-owned bank that will serve our members and regional communities even better. Together we will be able to provide members with wider access to personalised face-to-face banking, sharper pricing and new products underpinned by the same great service.”
Regional focus
The boards of both banks reiterated their ongoing strategy to support communities beyond metropolitan centres. Leaders say the merger will broaden offerings and allow the combined entity to invest further in community initiatives and infrastructure suited to regional customers.
John Williams, Chief Executive Officer of Summerland Bank, said, “Summerland Bank and Regional Australia Bank share the vision and values as a community-focussed customer-owned bank. By approving the merger our members will enjoy more branches, greater support for local communities, a wider range of products and better services. Resilience will be supported through shared infrastructure, broader geographic reach, and increased financial capacity-allowing us to continue delivering personalised service while adapting to changing market conditions.”
Strategic direction
The boards highlighted the merger as part of a longer-term strategy to address challenges facing customer-owned banks, including rapid technological change and evolving member expectations.
Colin Sales, Board Chair of Summerland Bank, said, “This merger is more than a structural change – it’s a shared vision for a stronger, more sustainable future in regional banking. For our members, it reflects our commitment to maintaining a local presence, enhancing service delivery, and building a bank that’s better equipped to meet the evolving needs of our communities.”
