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Members vote 96.72% in favour of the merger
Dear valued members,
I wanted to let you know some exciting news! Regional Australia Bank and Summerland Bank are merging.
Summerland Bank's members met on November 19 with 96% of the members voting in favour of the merger, whilst Regional Australia Bank's members voted on November 20 with 96.72% approving the move.
What does this mean for you?
No Staff Redundancies
The friendly faces you know, and trust, will remain here to support you. Our commitment to our team means the merger will not result in any job losses. This ensures continuity in relationships and consistent, personalised service, fostering a stable and familiar environment for our people and the communities we serve.
Same Familiar Names
Both banks will continue operating under their current names for a period following the proposed merger date of 1 July 2026. This provides continuity and reassurance, giving our customers and communities time to adjust as we gradually introduce a unified brand and identity in a thoughtful, well-supported way.
No Immediate Changes to Your Banking
In the meantime, your accounts, services, and support will continue as usual. There will be no immediate changes to account numbers, online access, or branch availability over the coming months. Our team will be fully trained to support you through any future enhancements, with a focus on minimising inconvenience and ensuring a smooth transition.
What's next?
The merger will officially take effect from 1 July 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.
Thank you for being a valued part of our community. If you have any questions, our friendly team is here to help. Feel free to reach out to us at [email protected] or call us on 132 067.
Yours faithfully,
David Heine
CEO, Regional Australia Bank
Member FAQ
The merger aims to strengthens both mutual institutions, ensuring a long-term commitment to prioritising member interests and community impact. Importantly, there will be no branch closures; instead, we will extend our branch network to better serve you.
Member votes are scheduled for late 2025, and the legal merger is set for 1 July 2026.
Creating a regionally focused bank allows us to tailor our services to meet the specific financial needs of our members. This means you can expect more personalised service and products designed for our local community.
Due diligence is a process where a comprehensive investigation is done by parties on each other to ensure both parties understand each other and is fully aware of any risks. In the case of Summerland Bank and Regional Australia Bank, we will spend time reviewing and understanding each other’s processes, business model, risks and performance to confirm the intention to merge with the other party.
The strategy is to preserve and extend face-to-face retail banking services across regional communities.
Should this merger be successful, the legal merge will not come into effect until 2026.
If you have any questions or concerns, please reach out to our customer service team or visit our website for updates. Your feedback is invaluable as we move forward together.
Founded in 1964, Summerland operates as a Mutual Bank in regional Australia. Summerland have network of 10 branches across the Northern Rivers NSW and South East Queensland. Employing over 100 regional Australians, Summerland take pride in being a major local employer. The team is passionate about serving the community and ensuring that their financial services align with the values of the people they serve.
The CEO of the combined institution will be David Heine, the current CEO of Regional Australia Bank. John Williams, the current CEO of Summerland will be the Deputy CEO (Strategy). Michelle Edmonds will retain the role of Deputy CEO (Customers).
We share a common foundation rooted in mutual values and a commitment to serving regional Australia. As mutual banks, we prioritise our members over profit, ensuring that our focus remains on community needs and sustainable growth.
By joining forces, we can enhance our collective ability to provide tailored financial solutions that align with the aspirations of regional Australians. This partnership will not only strengthen our presence but also deepen our commitment to the communities we serve, allowing us to empower even more individuals and families across our regions.
Your existing accounts and services will remain intact throughout the merger process. You will continue to enjoy the same high level of service you’ve come to expect. Any changes will be communicated well in advance to ensure a smooth transition.
We want to reassure you that our employees will experience job security, career development opportunities, and geographic flexibility. This stability among staff will ultimately lead to better service for our members.
No, there are no branch closures planned, as there is no overlap between branches.
Yes, our name is important to us. We will still be Regional Australia Bank. The brands will continue, but there will be future work to explore options for brand consolidation.
Learn more about the merger
Visit our Merger Plans page to learn more about the merger with Summerland Bank and stay up to date on the next steps.
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