Members to vote on Regional Australia Bank and Summerland Bank merger

THE Australian Prudential Regulation Authority (APRA) has given the green light to a proposed merger between Summerland Bank and Regional Australia Bank.

Regional Australia Bank currently operates 39 bank branches across the New England, North West, Central West, Riverina, Mid North Coast and Hunter regions of NSW, whilst Summerland operates 10 branches across the NSW Northern Rivers and South East Queensland.

The two banks first announced their intent to merge in October 2024.

With APRA’s approval now in hand, members will now have the opportunity to vote on the proposal.

David Heine, CEO of Regional Australia Bank, said the merger enables the two banks to invest in better infrastructure, products and services for customers, while keeping all branches open and retaining all staff.

If the merger goes ahead, the combined bank will manage over $5 billion in assets and serve over 130,000 members across regional NSW.

“This merger confirms our intent to empower all regional Australians through our customer-owned banking services,” Mr Heine said.

“We are committed to investing back into our regions, responsibly and sustainably and remain unwavering in our goal.”

Summerland Bank CEO John Williams said the merger will help deliver greater benefits to members and local communities.

“This merger means we can do more for our members and communities – investing in better infrastructure, security, and services.”

Both banks will now take the proposal to their members for a vote.

If endorsed by the banks’ members, the merger will take effect from 1 July 2026.

Regional Australia Bank will hold its AGM on 20 November, while Summerland Bank’s AGM is on 19 November.

If members are unable to attend, they can vote by appointing a representative or via a proxy form which must be lodged 48 hours prior to the AGM.