Update on the Toi Foundation community consultation
Toi Foundation, TSB's owner, has announced a proposal for TSB to merge with Heartland Bank.
If the proposal proceeds, Toi Foundation would sell its 100% shareholding in TSB and become a shareholder in Heartland Group Holdings Limited, the owner of the proposed merged bank, TSB Heartland Bank.
Under its Trust Deed, Toi Foundation consulted with the Taranaki community on the proposal. During a review of the consultation process, it identified that the consultation period closed one day earlier than intended.
To make sure the community engagement process is fair, transparent and fully meets the Trust Deed requirements, Toi Foundation is re-opening the submissions period from 10 July 2026.
If you've already made a submission, you don't need to do anything. All submissions received during the original consultation period will be retained and considered by the Trustees alongside any new submissions received during the extended consultation.
No decision will be made until the Trustees have considered all community feedback.
To learn more about the proposal and the consultation process, visit www.toifoundation.org.nz.
For TSB customers, it's business as usual.