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In Langenselbold, representatives of VR-Bank Main-Kinzig-Büdingen have approved the merger with VR-Bank Fulda. The new bank will serve a customer volume of almost 14 billion euros in the future.
Langenselbold – It was a long evening in the Klosterberghalle in Langenselbold. Around 300 representatives of VR-Bank Main-Kinzig-Büdingen were called upon to make one of the most important decisions. At 9:15 p.m. the time had come: Supervisory Board Chairwoman Sabine Haas happily announced that 99.66 percent were voting for the merger with VR-Bank Fulda.
“You have made a good and responsible decision in the 164-year history of our cooperative bank.” In this way, the cooperative approach as the future VR-RegionalBank can be led together into a good future.
VR merger decided: headquarters moves to Fulda, branches remain
It was clear to the founders 164 years ago: “Together we are stronger.” This approach still applies: of 298 eligible voters, 295 voted for the merger with VR-Bank Fulda – with two abstentions and one against.
“There aren't any 100 percent like a week ago in Fulda“, but it is a very strong vote,” said Sabine Haas. The critics will also be taken along, even if the democratic decision was made. The board presented the advantages of a merger in a long process. The chairman of the supervisory board Stefan Burkard and the three board members Thomas Sälzer, Sebastian Emmert and Thorsten Hopf showed exactly why the partners fit together so well. Like Bruno Vey, Petra Kalbhenn and Lars Schurich, they are rooted in their region.
There will deliberately be no spokesperson on the new board, but responsibility will be distributed across departments and regions in order to continue to be a direct contact person on site. The few reports in the discussion after the merger agreement was presented made it clear how well it had been prepared and communicated compared to the previous ones.
“Now we can still act. If we do nothing, we will be eaten by our neighbors, who are all significantly larger,” a representative recorded what became clear in the presentation. It is the last opportunity to be with a partner as equals. Sabine Haas supported the merger primarily because there was a common line not only in terms of numbers, but also in terms of people. Here, too, it became clear that VR Bank Main-Kinzig-Büdingen can act from a position of strength in order to face the future tasks of an extremely complex market and increasing requirements. This is easier as a larger cooperative bank.
Banks in numbers
VR Bank Main-Kinzig-Büdingen
Customer volume served: 8.6 billion euros
Total assets: 4.3 billion euros
Employees: 525
Members: 60,460
Customers: 130,192
Locations: 32
VR Bank Fulda
Customer volume served: 5.37 billion euros
Total assets: 2.64 billion euros
Employees: 385
Members: 26,206
Customers: 81,551
Locations: 21
VR RegionalBank
Customer volume served: 13.97 billion euros
Total assets: 6.94 billion euros
Employees: 910
Members: 86,666
Customers: 211,743
Locations: 53
The merger creates one of the largest cooperative banks in the state of Hesse. The balance sheet total increases to 6.9 billion euros. Under the new name VR RegionalBank with the addition “Fulda Main-Kinzig Büdingen”, 910 employees will look after a customer volume of almost 14 billion euros. VR Bank Main-Kinzig-Büdingen brings in almost 4.3 billion euros in total assets. Despite major challenges and crises in the world, board member Lars Schurich was able to announce an annual profit of around 8.2 million euros.
The supervisory board consists of 27 members – 11 from Fulda
Before the decision to merge, Carsten Aul, Bettina Kaufmann and Christoph Appel were elected to the supervisory board for another three years. When the merger was certain, the statutes of the absorbing VR Bank Main-Kinzig-Büdingen were unanimously changed accordingly in order to do justice to the now 86,666 members.
The supervisory board will consist of 27 members, 11 from the Fulda area. Nine of them are employee representatives. Sabine Haas continues to chair, supported by Stefan Burkard as deputy. Burkard was elected to the supervisory board as a Fulda representative alongside Michael Herber, Dörthe Bachmann, Patricia Fehrmann, Lydia Kohlhepp, Veit Küllmer, Michael Möller and Christian Oestreich.
The legal headquarters moves from Büdingen to Fulda. The administrative locations will remain Büdingen, Altenhaßlau and Fulda. The board is based in Altenhaßlau and Fulda. Nothing will change for VR Bank Main-Kinzig-Büdingen customers apart from the name of their bank. IBAN and account numbers remain the same. No branches will be closed and no one will be laid off as a result of the merger.
The decision to merge is retroactive to January 1st. The voting decisions made become valid upon entry in the cooperative register in Fulda. The merger will be technically completed in mid-September. (By Joachim Ludwig)
