Regional Australia Bank and Summerland Bank have announced their plan to merge.
Should the merger of these mutual banks proceed, the combined entities would manage assets of $4.8 billion and a total of 130,000 members.
Summerland, based in Lismore, showed its mettle in response to the severe flooding in early 2022, a period in which it rapidly established a banking hub on the campus of Southern Cross University.
It has since rebuilt its head office and main branch in town.
After “two years of significant loan growth and record profits, an intent to merge with an equally community-focussed bank is the next step to preserve and accelerate its purpose to offer a braver kind of bank” the banks say.