HGH - Heartland Group Holdings

[Plata]

HGH has enough liquidity to cope with around 50% of on call deposits being withdrawn from what I can see. Seems pretty strong. Interesting the hammering this has gotten. I think they will really struggle to grow for the foreseeable future now that everyone thinks small banks are ticking timebombs, might be hard to get money at good prices...

[lorraina]

Dear shareholder,
 
Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) was pleased to recently announce a net profit after tax (NPAT) of $48.7 million for the six-month period ended 31 December 2022 (1H2023), an increase of $1.1 million (2.4%) compared with the six-month period ended 31 December 2021 (1H2022). On an underlying* basis, 1H2023 NPAT was $54.7 million, an increase of $7.6 million (16.2%) compared with the 1H2022 underlying NPAT.

Heartland also declared a 5.5 cent per share interim dividend, paid on 22 March 2023.

To say thank you for your continued support and loyalty as a Heartland shareholder, we would like to provide you with a special Term Deposit offer with Heartland's New Zealand banking subsidiary, Heartland Bank Limited
(Heartland Bank). In 2022, Heartland Bank was proud to receive Canstar's Savings Bank of the Year for the fifth year in a row.

Find out more about Heartland Bank.

 

 

Your Term Deposit offer:

5 months at 5.50% p.a. with interest paid three monthly
10 months at 6.00% p.a. with interest paid three monthly
This offer is available from 22 March to 5 April 2023 and is exclusive to Heartland shareholders.

 



 



 

 

If you would prefer greater flexibility, you may wish to consider Heartland Bank's award-winning savings products:
 

 

Direct Call - 3.60%p.a.

 

32 Day Notice Saver - 4.75%p.a.

 

90 Day Notice Saver - 5.00%p.a.

 

 

For any questions, call the Heartland Bank team on 0800 85 20 20 or email invest@heartland.co.nz .
 
Thank you again for your support as a Heartland shareholder.
 
Kind regards,
 
Jeff Greenslade
Chief Executive Officer
Heartland Group Holdings Limited

 

[winner (n)]

Fascinating thing about Credit Suisse was that capital ratios and levels of liquidity were within what the EU banking system regs. TCS was no outlier

And the ratios don't look that much different from Heartlands

Conclusion -  depositors do not care about such technicalities in a bank run. They pull
money out because they are afraid.

[lorraina]

I remember I was working a business that owned two Lotto outlets at Northlands Mall when Countrywide had a bank branch  there.
Did a special deal with us,not charging a cash handling fee,as we saved them "the costs" of not having to carry a lot of cash.
I think the lotto money we were paying in would have seen them survive a bank run.
People want the bank to have "their cash" on hand,and pay interest on it.
Makes you wonder how they think a bank makes a profit.
 

[Fiordland Moose]

Fascinating thing about Credit Suisse was that capital ratios and levels of liquidity were within what the EU banking system regs. TCS was no outlier

And the ratios don't look that much different from Heartlands

Conclusion -  depositors do not care about such technicalities in a bank run. They pull
money out because they are afraid.

I'm pretty sure Credit Suisse's depositors had some pretty good company specific issues to worry about, including ongoing multi billion dollar quarterly losses announced with the newly discovered material financial and system weaknesses, uniquely & emotionally unaware comments made by its cornerstone shareholder at the same time, a super risk prone investment bank dabbling in exotic products that nearly blew the bank up 2 years ago when archegos collapsed (CS had $20bn of exposure to archegos investments representing 50% of its equity cushions, and ultimately took a $5bn hit) and the now bankrupt Greensill capital, constant turnover in senior mgmt and unrelenting scandal (including new CEO's hiring private investigators to follow ex CEOs), and on, and on, and on.

[kiwi2007]

Transferred everything out of my Heartland Direct call account today. I'm sure everything's bang to rights but I got caught up in the Icelandic bank mess years ago and learnt that there's a time to chase a few points extra on yields and there's a time not to.

[mcdongle]

Transferred everything out of my Heartland Direct call account today. I'm sure everything's bang to rights but I got caught up in the Icelandic bank mess years ago and learnt that there's a time to chase a few points extra on yields and there's a time not to.

I have done the same..

[Hectorplains]

Transferred everything out of my Heartland Direct call account today. I'm sure everything's bang to rights but I got caught up in the Icelandic bank mess years ago and learnt that there's a time to chase a few points extra on yields and there's a time not to.

... or, closer to home and for those of us with many more trips around the sun, the PSIS in '79.

[Untamed]

This seems a little irrational and reactive to me. I can understand that one might wish to re-visit their current banking arrangements, and spread their eggs across multiple baskets, but withdrawing everything seems a little over the top to me. I'm assuming you are both invested in the company, not simply banking with them? If that is the case, surely pulling everything out of the bank you are invested in, is more than a little counter productive?

Transferred everything out of my Heartland Direct call account today. I'm sure everything's bang to rights but I got caught up in the Icelandic bank mess years ago and learnt that there's a time to chase a few points extra on yields and there's a time not to.

I have done the same..

[winner (n)]

Is this how run on the banks start?

They say social media speeds such things up

[Hectorplains]

This seems a little irrational and reactive to me. I can understand that one might wish to re-visit their current banking arrangements, and spread their eggs across multiple baskets, but withdrawing everything seems a little over the top to me. I'm assuming you are both invested in the company, not simply banking with them? If that is the case, surely pulling everything out of the bank you are invested in, is a little counter productive?

Irrational and reactive - that's pretty much the recipe for a bank run.  And so much easier in the age of social media still it won't happen here, eh?

[Red Baron]

Transferred everything out of my Heartland Direct call account today. I'm sure everything's bang to rights but I got caught up in the Icelandic bank mess years ago and learnt that there's a time to chase a few points extra on yields and there's a time not to.

I have done the same..

Jeff's marketing has vorked!  Have a look at the serial number of the bank accounts you two dummkopfs have just emptied.  They start with 03, right?  Now look at the principal bank that has accounts beginning with that number.

https://en.wikipedia.org/wiki/New_Zealand_bank_account_number

All you have done is take money from a Vestpac account.  If Heartland were unable to meet their commitments for some reason, your money is in effect held in trust by Vestpac. Heartland is not a bank!  They don't operate their own banking licence in New Zealand.

RB

[Untamed]

I don't believe this is anything more than an arrangement for Westpac to process Heartland transactions. Rabobank also uses Westpac for processing. Westpac is simply contracted to provide a processing service. At least that's the way I read everything I have just googled on the subject.

I am sure someone will correct me if I'm wrong.

Jeff's marketing has vorked!  Have a look at the serial number of the bank accounts you two dummkopfs have just emptied.  They start with 03, right?  Now look at the principal bank that has accounts beginning with that number.

https://en.wikipedia.org/wiki/New_Zealand_bank_account_number

All you have done is take money from a Vestpac account.  If Hear6land were unable to meet their commitments for some reason, your money is in effect held in trust by Vestpac. Heartland is not a bank!  They don't operate their own banking licence in New Zealand.

RB

[winner (n)]

Our Greg Tomlinson will be happy today ......his horse Aris Aris won its 4th race and looks to have a great future.

Owners eye will see Heartland OK

[Hectorplains]

Heartland is not a bank!  They don't operate their own banking licence in New Zealand.

RB

Yeah, nah you're wrong.  They're a bank.  The clue is in the name "Heartland Bank Limited."  They've been a New Zealand registered bank since 2012.