Fundz

TSB to merge with Heartland by March 2027

Nov 15, 2026

Acquiring Company

TSB

Acquired Company

Heartland Bank

New ZealandMelbourneFinancial ServicesFinanceLendingBanking

Description

TSB Bank and Heartland Bank have delayed their $620 million merger to 1 March 2027 to give the Reserve Bank time to complete regulatory review. Heartland Group shareholders have approved the deal, and TSB's owner, Toi Foundation, voted to proceed in August.

Quick answer

TSB is acquiring Heartland Bank, announced November 15, 2026. TSB is based in New Zealand.

How much did TSB pay for Heartland Bank?
The deal value was not disclosed.
What does TSB do?
We’re 100% NZ owned and independent, and have been dedicated to helping New Zealanders achieve their goals since 1850.
Where are TSB and Heartland Bank based?
TSB is based in New Zealand. Heartland Bank is based in Melbourne, Victoria, Australia.
Who are the decision-makers at TSB?
Fundz holds 1 contact at TSB. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

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Company Information

Company

TSB

Location

New Zealand

About

We’re 100% NZ owned and independent, and have been dedicated to helping New Zealanders achieve their goals since 1850.

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Frequently asked

Who acquired Heartland Bank?

Heartland Bank was acquired by TSB, based in New Zealand. The deal was reported on November 15, 2026. We’re 100% NZ owned and independent, and have been dedicated to helping New Zealanders achieve their goals since 1850. TSB is privately held.

When did TSB acquire Heartland Bank?

TSB's acquisition of Heartland Bank was reported on November 15, 2026. TSB Bank and Heartland Bank have delayed their $620 million merger to 1 March 2027 to give the Reserve Bank time to complete regulatory review. Heartland Group shareholders have approved the deal, and TSB's owner, Toi Foundation, voted to proceed in August. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Heartland Bank do?

Heartland Bank is a digital specialist bank, part of the New Zealand-based Heartland Group, and the first bank in New Zealand to acquire an Australian banking licence. It is privately held, operating in Financial Services, and is based in Melbourne.

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