Our Special General Meeting was held on Thursday, 12 March 2026
A Special General Meeting (SGM) of Teachers Mutual Bank Limited (TMBL) was held on Thursday, 12 March 2026.
Merger Vote Outcome
At the SGM, TMBL members APPROVED the proposed merger between TMBL and Australian Mutual Bank Ltd ACN 087 650 726 (AMBL) by way of a voluntary total transfer of all of the business of AMBL to TMBL under the Financial Sector (Transfer and Restructure) Act 1999 (Cth).
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Special Resolution |
Outcome |
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That the members of Teachers Mutual Bank Limited ACN 087 650 459 (TMBL) approve: A. the total transfer of the business of Australian Mutual Bank Ltd ACN 087 650 726 to TMBL pursuant to the Financial Sector (Transfer and Restructure) Act 1999 (Cth); B. the amendments to the Constitution of TMBL (TMBL Constitution) as set out in the marked-up copy of the TMBL Constitution tabled at the meeting by the Chair, and signed by the Chair for identification purposes; and C. that, in accordance with Rule 13.1 of the TMBL Constitution, the maximum annual aggregate amount of remuneration that may be paid to Directors of TMBL be $1,411,000 (inclusive of superannuation), to take effect on 1 May 2026 or such other date as the Australian Prudential Regulatory Authority determines. |
Carried |
TMBL members approved the following Special Resolution by the requisite majority:
AMBL members also voted in favour of the merger by approving the Special Resolution put to their SGM on 11 March 2026.
What happens next?
The merger is planned to come into effect on 1 May 2026, following final regulatory approvals.
Our teams are already working hard to bring the two banks together to create an even stronger bank.
We’ll be in touch with members over the coming weeks to share more information about the positive changes, what they mean for members, and when they’ll begin.