Of those who voted, 89.61% of eligible savers and 87.22% of eligible borrowers, voted in favour of the resolutions to merge with the Yorkshire.
Gordon Horsfield, chairman of N&P, said: “I should like to thank those members who have taken the time to study the Board’s proposals and voted. Through their votes they have clearly expressed their support for a merger with the Yorkshire. They too have recognised the short and long term benefits of this merger.
“The financial services market has changed fundamentally since the credit crunch began. If the needs of customers for a broad range of financial services are to be met, so as to provide a real mutual alternative to the banks, scale is more important to secure cost efficient operation and access to funding markets.
“The challenge is to be able to deliver the benefits of scale whilst retaining the personal touch. In selecting the Yorkshire as a merger partner the Board is confident that both societies share the same values.
“Furthermore, the enlarged society will have capital ratios which are amongst the strongest of any UK lender, bank or building society and thus a secure basis upon which to go forward.”
The merger remains subject to confirmation by the FSA, and the FSA’s confirmation process is expected to complete on 1st November 2011.
