The combined entity would manage $4.8 billion in assets and serve 130,000 members
Summerland Bank and Regional Australia Bank have announced plans to merge, with both institutions now entering the due diligence phase to assess the potential benefits of the deal.
The proposed merger would combine two long-standing customer-owned banks, increasing their market presence across Australia’s regional areas. The merger aims to unify their shared focus on building strong communities through member-owned banking.
If the merger goes ahead, the combined bank would manage $4.8 billion in assets and serve 130,000 members.
Summerland Bank has experienced significant milestones in its 60-year history, including its recent transition from a credit union to a customer-owned bank, a rebrand, and the rebuilding of its Lismore head office after the 2022 floods. It has also achieved B Corporation certification.
Regional Australia Bank has also been expanding its footprint, having recently merged with Macquarie Credit Union.
Both banks have emphasised their commitment to in-branch services, with no branch closures expected as a result of the merger. The expanded network is expected to benefit members while continuing to prioritise digital integration and innovation.
The merged organisation will initially operate under both the Summerland Bank and Regional Australia Bank brands, with a decision on future branding projected after the proposed merger date in mid-2026.
“This potential merger presents exciting opportunities for our members,” said John Williams (pictured above left), chief executive of Summerland Bank. “Together, we can expand our market share and improve pricing efficiency and competitiveness.”
“Our commitment to investing back into regional communities remains strong,” said David Heine (pictured above right), chief executive of Regional Australia Bank. “This merger aligns with our mission to empower regional Australians through customer-owned banking.”
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