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.

Following a milestone year in Summerland Bank’s 60-year history, including our transition from a credit union to a customer owned bank, a rebrand, the rebuilding of our Lismore head office and flagship branch after the 2022 floods, obtaining B Corporation Certification, and two years of significant loan growth and record profits, an intent to merge with an equally community-focused bank is the next step to preserve and accelerate our purpose to offer a braver kind of 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.

To read more visit our website page.