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Merger plans

Merger plans

We are excited to announce our shared intent to merge with fellow customer-owned, Regional Australia Bank by 2026.

Merger plans

We are excited to announce our shared intent to merge with fellow customer-owned, Regional Australia Bank by 2026.

An important update on the future of Summerland Bank.

At Summerland Bank, our commitment to providing better banking and building stronger communities has always been at the heart of what we do. Today, we are excited to share some important news that reflects our dedication to drive economic growth in Australia’s regional areas and to contribute to the prosperity of the local communities we serve.

We are excited to announce the signing of a Memorandum of Understanding (MOU) with Regional Australia Bank signifying our intent to merge both organisations and to amplify a shared vision that places customers and communities at the forefront of our like-minded customer owned banks.

This marks a significant step in our growth strategy and will serve to both strengthen and preserve our purpose to support our customers to realise their potential by delivering an enhanced banking experience.

What this means for you.

By combining the best of what Summerland Bank has to offer with the best of what Regional Australia Bank has to offer there are many benefits we are excited to pass on to our customers – for example:

  • More branches near you: We’ll have more branches where you need them, making banking easier and more convenient.
  • Better online banking: Our combined technology will make your online banking experience smoother and more advanced.
  • Better prices: With a bigger reach, we can offer you more competitive prices.
  • Supporting communities: Together, we’ll have a bigger impact in NSW, helping students, business owners, families, and retirees.
  • More choices: You’ll have more banking options and services to choose from.

Who is Regional Australia Bank?

Regional Australia Bank, much like us, is deeply invested in the communities they serve. Operating 37 branches across regional NSW — including the New England North West, Central West, Mid North Coast, and Greater Newcastle areas — their team is also made up of local people committed to helping both their customers and communities thrive.

Both banks are deeply rooted in our communities, taking pride in the fact that we are both major local employers, contributing to the economic vibrancy of the regions in which we serve. We are confident that the proposed merger will allow us to grow even stronger together.

Where to from here?

For now, it’s business as usual. Both Summerland Bank and Regional Australia Bank will continue to operate under our current names, brands and from our existing locations. We remain proudly customer-owned, locally operated, and focused on delivering what matters most to you — personalised service, eco-friendly products, and innovative digital banking.

As we move through this process we hope to gain your participation, we care deeply about your support and will seek your feedback on the proposal in the coming months. In the meantime, we are committed to keeping you informed at every stage of this journey, we are approaching this with full transparency. Your trust is our priority, and we hope that you will feel confident and supported during this process.

And finally, thank you for being a valued part of our community. If you have any questions, our friendly, local team is here to help. Feel free to reach out to us at info@summerland.com.au or call us on 1300 728 728.

Questions & Answers

Regional Australia Bank lives and breathes the regional Australia spirit. They play an active and influential role in our communities and empower the people and businesses of regional Australia to achieve great things. Currently operating 37 branches across regional NSW, including the New England Northwest, Central West, Mid North Coast and Greater Newcastle regions – each of them staffed by local people who are committed to helping you succeed. Regional Australia Bank offices and call centres are local, all based in regional NSW. With head offices in Armidale and Port Macquarie, and multiple regional call centres reaching Coffs Harbour, Tamworth, Newcastle and Dubbo, they have proudly created more than 300 jobs for people from regional NSW.

As part of our growth strategy, we wanted to find ways to strengthen, preserve and amplify our impact as a B Corporation Certified customer owned bank to offer better banking and stronger communities. We have long admired the work of Regional Australia Bank, both as a fellow mutual institution but also their commitment to empowering regional Australians and their communities. Together, we operate on shared values of reciprocity, responsibility, community and sustainability and long term, our strategies align to the sustainable prioritisation of our member’s interests and community impact.

If a merger takes place, our customer base will grow to over 130,000 with around 47 branches and combined assets of approximately $4.8 billion.

A merger will create an enhanced banking experience for our customers – from digital innovation, an increased branch network, to operating at a larger scale and with larger market share which means greater competitiveness and pricing efficiency. These are benefits that will be directly passed on to our customers. A merger creates an opportunity to create a regionally focused bank that offers tailored services and addresses the needs of the communities in which we operate. The merger is a proactive strategy for both Summerland and RAB and brings together two banks that are financially strong with a history of solid growth.

A merger is a business process in which two or more companies combine to form a single entity. Mergers are often pursued to achieve strategic goals, such as expanding market reach, enhancing operational efficiency, gaining competitive advantages, or sharing resources.

There are a number of steps and approvals needed for the merger to become effective.

  1. Firstly, a Memorandum of Understanding (MOU) was signed by both parties to formalise their intent to merge.
  2. Next, both organisations will conduct due diligence on the operations of each other during October.
  3. If nothing arises in the due diligence process to raise any concerns then applications to the regulators (APRA, ASIC, ACCC and ATO) will occur.


Then most importantly, both mutuals will need to separately gain member approval via an AGM or Special General Meeting (SGM). There is much emphasis in this process placed on the importance of our members understanding and agreeing to the benefits of this merger.

To approve the merger, yes, but only after successful due diligence.

Both parties will hold a member vote (Dates TBA ~ Nov 2025) via their AGM or a Special General Meeting (SGM).

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. We will spend time reviewing and understanding each other’s processes, business model, risks and performance to confirm their intention to merge with the other party.

No, there will be no immediate changes to your experience and day-to-day banking with Summerland Bank. For now, we operate as business as usual with anticipation and excitement for what is to come. We are committed to full transparency and are committed to keeping you informed at each step of this process.

At this stage, it is proposed that the merged organisations will continue to operate under both Regional Australia Bank and Summerland Bank brands in their respective locations until the proposed merger date in mid-2026. Both brands will continue to operate separately until a decision is made about future branding, ensuring a smooth transition and continued focus on member benefits.

The CEO of the combined banks will be David Heine, the current CEO of Regional Australia Bank and John Williams will be Deputy CEO (Strategy) alongside the current Deputy CEO (Customers), Michelle Edmonds.

The initial Chair is expected to be Mike Fenech (RAB Director), with Colin Sales (Summerland Bank’s current Board Chair) as Deputy Chair. The Board will consist of five RAB Directors and three Summerland Bank Directors.

Should this merger be successful, the legal merge will come into effect in mid-2026. Most likely 1 July 2026.

If this merger does not go ahead, things will continue as ‘business as usual’ for both organisations.

No, there will be no branch closures as a result. In fact, the proposed merger presents a significantly expanded branch network, taking our in-branch experience from ten to 47 branches around regional NSW. Like Summerland Bank, Regional Australia Bank believes in face to face banking and personalised customer service and having a strong branch presence is also central to their growth and member experience strategy.

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