REGIONAL Australia Bank and Summerland Bank will proceed with a merger after members this week approved the move at their Annual General Meetings.
Summerland’s members met on November 19 with more than 96 per cent of the members voting in favour of the merger, whilst the Regional Australia Bank members voted on November 20 with also more than 96 per cent approving the move.
The merger will officially take effect from July 1, 2026.
Once merged, the combined entity will manage assets of over $5 billion and service over 130,000 members with 49 locations across a large area of regional NSW and southern Queensland.
As part of the proposed merger, both banks reaffirmed that there will be no branch closures, no staff losses and accounts, services, and support will continue as usual.
Regional Australia Bank CEO, David Heine said the board is thrilled that members have embraced the 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,” he said.
Regional Australia chair, Michael Fenech said members have voted to merge two strong mutual banks into one stronger customer-owned bank that will serve 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,” he said.
Summerland Bank CEO, John Williams said Summerland Bank and Regional Australia Bank share the vision and values as a community-focused 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,” he said.
“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.”
Summerland Bank Board chair, Colin Sales said the merger is more than a structural change.
“It’s a shared vision for a stronger, more sustainable future in regional banking,” he said.
“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.”
About Regional Australia Bank
Regional Australia Bank was first established in 1969 in the New England community of NSW. Since then, it has grown to 39 locations with head offices in both Armidale and Port Macquarie it has proudly created more than 300 jobs in regional NSW. With branches spread across the New England, North West, Central West, Riverina, Mid North Coast and Greater Newcastle they play an active and influential role in their local communities, empowering regional people to achieve great things.
About Summerland Bank
Summerland Bank was founded in 1964 in the Northern Rivers community of NSW, as Summerland Credit Union. Since then, it has grown to 10 locations. With its newly rebuilt head office in Lismore, it employs over 120 staff across the Northern Rivers in NSW and includes a branch in South East Queensland. With a long-standing and deep commitment to sustainability and the local community, Summerland Bank officially became a proudly certified B Corporation in 2023.
