Regional Australia Bank and Summerland Bank will proceed with a merger after members approved the move at their Annual General Meetings this week.
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 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.
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.
Speaking following the outcome of the vote, Regional Australia Bank CEO, David Heine 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.”
Regional Australia Chair, Michael Fenech 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.”
Summerland Bank CEO, John Williams 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.”
Summerland Bank Board Chair, Colin Sales 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.”
Media Release: Regional Australia Bank and Summerland Bank
