Auswide Bank (MYS) M&A Announcement summary
Event summary combining transcript, slides, and related documents.
M&A Announcement summary
6 Jun, 2025Deal rationale and strategic fit
Merger creates a stronger, larger regional bank with a more diverse customer and geographic footprint.
Combines MyState's Tasmanian banking and wealth services with Auswide's Queensland banking and asset finance.
Four brands (MyState Bank, Auswide Bank, SelfCo, TPT Wealth) will serve customers across Australia's eastern seaboard.
Financial terms and conditions
MyState acquired 100% of Auswide's shares; Auswide shareholders received 1.112 new MyState shares per Auswide share.
Ineligible foreign shareholders will receive proceeds from a sale facility by 19 March 2025.
Auswide will be delisted from the ASX effective 20 February 2025.
Synergies and expected cost savings
Pre-tax cost synergies of $20m–$25m per annum expected by end of FY27.
Merger expected to be EPS accretive on a post-synergies run rate basis from FY26, excluding integration and transaction costs.
Latest events from Auswide Bank
- NPAT dropped 55.2% as margins tightened, but deposit growth and M&A moves support future scale.MYS
H2 202410 Feb 2026 - Merger to create a larger, diversified bank with $25m synergies and digital focus.MYSM&A Announcement23 Jan 2026
- NPAT fell 55.2%, but capital strength, Selfco acquisition, and MyState merger drive future focus.MYSAGM 202413 Jan 2026