While the move of Westpac and St George from the CBD into Lismore Square Shopping Centre has been known for quite some time, this afternoon was the official opening of the $1.5 million combined space.

Local Branch Managers, Westpac's Chris Hartley and St George's Emma Chamberlain cut the red ribbon along with Federal Member for Page Kevin Hogan, Westpac Group Chief Customer Engagement Officer Ross Miller, State General Manager Diana Diab along with branch staff and customers.

Ross Miller told the Lismore App the move from the CBD into Lismore Square was in the best interests of their customers and the banks after it invested $1.5 million into the new branch.

"We're very proud to have been representing banking customers here in Lismore since 1878. The Westpac brand obviously has a giant customer base as well as the St. George brand relative to the size of the population. In fact, you know, of the 46,000 people living in Lismore we have a banking relationship with half of them across the two bands."

"We're proud that we could continue to have temporary services in our bank-in-a-box but we wanted to get back out there running as soon as possible."

"Whenever we make a decision to reopen a branch we think about what's best for our customers," Ross continued, "We thought that firstly bringing together the Westpac and St. George teams together to create a great team environment and ensure continuity of service for our customers was the right thing to do. And then we thought, where's a great place to be? And the convenience of being in one of the largest shopping centres with undercover parking, allowing our customers to be able to bank when they do the shopping made sense."

"We're very proud of the history we've had in the town centre but we think as a go forward position investing $1.5 million here in the Shopping Square was the right thing to do at this time."

As with any business, who can argue against the commercial realities of investing $1.5 million every time your business is affected by a flood.

Combining the Westpac and St George branches is not a first for the banking group, Lismore makes the 30th co-location branch in regional Australia with Ballina's $1.5 million opening the 31st tomorrow.

Before the cutting of the ribbon State General Manager Diane Diab said opening the Lismore branch is extra special because of the journey that has been undertaken to get here.

"To our branch team we couldn't have done this without you and I'm so proud of all of you, in the way you have come together. You've been saddened by the devastation across Lismore and a lot of you have been impacted personally as well as losing your workplace overnight but you jumped into the box (bank-in-a-box at SCU). So thank you."

The work of local Branch Managers Chris and Emma and local staff was also acknowledged by Kevin Hogan.

"You've been helping people, not just in your role as bankers but you've been helping people in your role as fellow community members and neighbours and friends. So, I thank you for that."

The new Westpac and St George co-location branch is in Lismore Shopping Square, next door to Kmart and is open Monday to Thursday 9:30am - 4pm and Friday 9:30am - 5pm.