What $300m plus of dairy loans? Page 10 of Heartland's latest annual report says they have "exposure to dairy" of $218m, with a LVR of 61%. This comprises 7.6% of their total book. Could you kindly let me know where the $300m plus figure comes from?
Also, HBL have more than enough capital to plan a purchase of Motor Trade Finance, or failing that, a share buyback. So there's heaps of cash in the till even if they need to increase provisioning for bad dairy loans.
Interestingly, a quick google search for "Heartland Bank NZ dairy" brings up this recent article on Reuters, where Heartland note that weak dairy prices will potentially last until 2017, but they will continue to do business with farmers.
http://www.reuters.com/article/newze...-idUSL3N15B24I
Is there any evidence at all for your phrase "The loan restructure team out in full force I reckon turning problem loans into 'current' loans"?. As the philosophers retort goes - "that which can be asserted without evidence can be dismissed without evidence".