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Proposed merger plans.
Welcome to our Merger Information Hub, your go-to source for all the latest updates, details, and resources about the proposed merger between Summerland Bank and Regional Australia Bank.
It's time to vote.
You can vote by Proxy from 2 October 2025 up until 17 November 2025. Or you can join us and vote at the AGM on 19 November at Lismore Workers Club, Lismore at 6pm.
What the merger means for you.
Summerland Bank and Regional Australia Bank are proposing a merger that will deliver more for our customers, communities, and regional Australia. This partnership is built on shared values and a commitment to local service, innovation, and sustainability.
More local branches
A combined network of 49 locations across NSW and beyond.
More supportive staff
Over 450 team members ready to help you thrive.
Better banking
Enhanced products and digital convenience.
Stronger communities
Increased support for local initiatives and sustainability.
No branch closures or job losses
All branches will remain open, and no staff will be made redundant.
We'll continue as a B Corp
Keeping people and the planet at the heart of what we do.
The merger story.
Summerland Bank CEO John Williams and Regional Australia Bank CEO David Heine discuss the shared vision behind the proposed merger. They talk openly about what brought the two banks together, how this partnership will benefit customers and communities, and their commitment to building a stronger, purpose-driven future.
What does customer owned banking mean?
The proposed merger with Regional Australia Bank will continue our shared focus to be a customer owned financial institution.
Questions & Answers
Will any branches be closed as a result?
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.
Who is Regional Australia Bank?
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.
Why has Summerland Bank chosen Regional Australia Bank?
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 I am a member of both Summerland Bank and Regional Australia Bank, how will this affect me? Can I come into a Summerland branch and perform a RAB transaction if I need to & vice versa?
We are keen to look into ways we can support both Summerland Bank and Regional Australia Bank customers throughout the time it will take to move all customers to one banking system. After the merger there will be a focus on how best to support all customers of each merged bank and we will communicate this as soon as this is decided.
Will you be keeping the Summerland Bank name or will it change to Regional Australia Bank?
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
Will I have to get a new member number and new account numbers after the merge?
At this early stage we do not know the details on how the two banks will integrate their banking systems, and this is something that will be managed carefully after the
merger. Once a decision is made there may be a chance that some member numbers
could change particularly, if there is any duplication between both systems. Once
this is known we will assure you there will be extensive communication with affected
members.
What makes now a smart time to refinance with Summerland Bank, even with the upcoming merger with Regional Australia Bank? How will this move benefit me in the long run?
While Summerland Bank and Regional Australia Bank are planning to merge by July 2026 (pending member approval), we’re still very much operating independently. That means when you choose Summerland today, you’re choosing a bank that’s deeply committed to the Northern Rivers region, with a strong focus on sustainability, community, and personal service.
So even with the merger on the horizon, Summerland Bank offers a local-first approach, which means our team lives and works in the same communities we serve. Our people understand the unique needs of our region and offer tailored support that the big banks often overlook. We strive to offer personalised service and pride ourselves on knowing our customers by name, not just their account number which means you’ll get the kind of attention and care that’s hard to find elsewhere.
For Summerland Bank our customers voice matter and as a Summerland member, you’ll have a say in the future of the bank, including the merger. It’s a chance to be part of something bigger while still enjoying the benefits of a local institution. Should the merger proceed, we offer you a smooth transition ahead which means you’ll be seamlessly supported every step of the way.
Will you be keeping your B Corp accreditation as I know Regional Australia Bank don’t have this?
Summerland Bank are very proud of their B Corp status, as we recognise that our success is not only measured by our financial performance but also by our impact on our people, our customers, our community and our environment. Regional Australia Bank are very committed to learning from us about how we can work closely together to extend our B Corp status, we look forward to supporting this after the merge.
Once combined, how big will the combined Bank's be?
If a merger takes place, our customer base will grow to over 130,000 with around 49 branches and combined assets of approximately $4.8 billion.
Why should we merge?
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.
What is a merger?
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.
How does a merger get approved, and what are the steps involved?
There are a number of steps and approvals needed for the merger to become effective.
- Firstly, a Memorandum of Understanding (MOU) was signed by both parties to formalise their intent to merge.
- Next, both organisations will conduct due diligence on the operations of each other during October.
- 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.
Is a member vote necessary?
Yes, both parties will hold a member vote.
Voting is now open. You can vote by Proxy from 2 October 2025 up until 17 November 2025. Or you can join us and vote at the AGM on 19 November at Lismore Workers Club, Lismore at 6pm.
For more information see Voting Process.
What does due diligence mean?
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.
Will I see any changes immediately?
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.
Will we still be Summerland Bank?
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.
Will there be a change in the role of Chief Executive (CEO)?
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.
Who will be the Board Chair?
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.
When is the expected merger expected to come into effect?
Should this merger be successful, the legal merge will come into effect in mid-2026. Most likely 1 July 2026.
What happens if we don’t merge?
If this merger does not go ahead, things will continue as ‘business as usual’ for both organisations.
Another important step forward - APRA approval marks a key milestone.
29 August 2025: We’re pleased to share that the Australian Prudential Regulation Authority (APRA) has approved the proposed merger between Summerland Bank and Regional Australia Bank. This is a key milestone in the process, paving the way for our customers to have their say at the upcoming AGM in November. With this approval, we move one step closer to creating a stronger, community-focused bank that can deliver greater value for our customers, staff, and regional communities.
A new milestone in our journey with Regional Australia Bank.
22 April 2025: Following months of thoughtful planning and a comprehensive due diligence process, both our Board and Regional Australia Bank’s Board have now given their support to
recommend the merger to members. This due diligence process identified significant
synergies and benefits for members and is a major milestone in our shared vision to
build a stronger future for our customers and communities for generations to come.
An important update on the future of Summerland Bank.
22 October 2024: Summerland Bank and Regional Australia Bank are pleased to announce our shared intent to merge and are now moving towards undergoing due diligence to investigate the merger’s feasibility and benefits.
Our combined long-standing customer owned model would expand market share and presence across Australia’s regional populations and unify our common goal to build strong communities through a member owned banking model.
We want to hear from you.
We’re committed to keeping our customers informed and involved as we progress with our merger plans. Our updated merger hub now includes a Customer Feedback Form, where you can share your thoughts, ask questions, and let us know what matters most to you.
This page continues to be your central source for updates, timelines, and answers to frequently asked questions. We encourage you to visit regularly and use the form to stay connected with us throughout this journey.
Do you have any feedback or questions about the merger?
Provide your details and we will get back to you as soon as possible.
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