Overview

• The memorandum of understanding launches formal due diligence and internal approvals ahead of a proposed merger agreement in early 2026.
• If approved, the combined customer-owned bank would have about $2.4 billion in assets, 16 branches, more than 60,000 customers and roughly 200 staff.
• Bank leaders pledged no job losses and no branch closures and said the Geelong brand would remain visible, with separate names to be retained.
• The proposal requires clearance from APRA and a member vote, with Hume indicating a target completion date of July 1, 2026.
• Governance plans include adding one Geelong director to Hume’s board, as the larger Hume would absorb the smaller Geelong Bank.