Nordfyns Bank and Fynske Bank are once again pursuing a merger, however, Middelfart Sparekasse has announced it does not support the move. This decision follows Middelfart Sparekasse’s acquisition of approximately a quarter of Nordfyns Bank’s share capital in June, with the initial intention of exploring a potential merger with Nordfyns Bank itself.

Nordfyns Bank has since discontinued dialogue with Middelfart Sparekasse. As a result, Middelfart Sparekasse has stated that their shareholding in Nordfyns Bank is not for sale and that they do not endorse the proposed merger between Nordfyns Bank and Fynske Bank.

The renewed merger agreement between Nordfyns Bank and Fynske Bank aims to establish a more balanced relationship between the two entities. The merged bank will operate under the name Fynske Bank. Details regarding management relationships remain consistent with the original agreement.

An extraordinary general meeting planned for June, during which shareholders were to vote on the initial merger proposal, was cancelled due to insufficient support from Nordfyns Bank. SJF Bank, which has since sold its shares to Middelfart Sparekasse, had previously opposed the merger. Approval of the merger requires the support of two-thirds of the shareholders.

Fynske Bank was formed in 2013 through the merger of Vestfyns Bank and Svendborg Sparekasse. Currently, it operates ten branches across Funen, Langeland, the Triangle Region, and Aarhus. Nordfyns Bank, with a history spanning over a century since its founding in Bogense in 1897, has eight branches in northern Funen and maintains both its headquarters and a business center in Odense.