HGH - Heartland Group Holdings

[percy]

Yeah. I figured that Percy. I am just nit-picking.

Not like you.
Trust you are going along to NZ Shareholders Assn meeting tonight to hear Jeff Greenslade's presentation?

[RTM]

So I guess I just sit back and Heartland will send me the appropriate paperwork ?
Or do I need to go and look for something ?
Does anyone here have a quick answer.....don't want to miss out.
Thanks in advance.

[stoploss]

So I guess I just sit back and Heartland will send me the appropriate paperwork ?
Or do I need to go and look for something ?
Does anyone here have a quick answer.....don't want to miss out.
Thanks in advance.

Just sit back , enjoy the view and check your letterbox.

[winner69]

Interest.co.nz

Nothing like a bit of competition ....everybody might win

First NZ Capital suggests niche player Heartland Bank faces competition from big banks looking to replace earnings lost due to LVR restrictions

http://www.interest.co.nz/business/6...-big-banks-loo


Can't elaborate as haven't paid the 365 bucks togetthissort of info

[SimonHouse]

At the NZSA meeting. Jeff Greenslade gave a great presentation. Very confident and upbeat. Impressive how they exited uncompetitive mortgages and now sell profitable Kiwibank mortgages with commission and trail income. Strong variable cost model. Simon Owen their CFO also spoke well. Non core properties looking much much better. More business with higher margins now. Asset quality is much better, impairment ratio decreasing

[SCOTTY]

At the NZSA meeting. Jeff Greenslade gave a great presentation. Very confident and upbeat. Impressive how they exited uncompetitive mortgages and now sell profitable Kiwibank mortgages with commission and trail income. Strong variable cost model. Simon Owen their CFO also spoke well. Non core properties looking much much better. More business with higher margins now. Asset quality is much better, impairment ratio decreasing

Hi SimonHouse
Thanks very much for reporting this. Much appreciated
Cheers

[percy]

At the NZSA meeting. Jeff Greenslade gave a great presentation. Very confident and upbeat. Impressive how they exited uncompetitive mortgages and now sell profitable Kiwibank mortgages with commission and trail income. Strong variable cost model. Simon Owen their CFO also spoke well. Non core properties looking much much better. More business with higher margins now. Asset quality is much better, impairment ratio decreasing

Thank you SimonHouse for your post.

[noodles]

At the NZSA meeting. Jeff Greenslade gave a great presentation. Very confident and upbeat. Impressive how they exited uncompetitive mortgages and now sell profitable Kiwibank mortgages with commission and trail income. Strong variable cost model. Simon Owen their CFO also spoke well. Non core properties looking much much better. More business with higher margins now. Asset quality is much better, impairment ratio decreasing

Also expect same divs as last year (no special)

[Snoopy]

Just to remind people about the Heartland capital raising program so far:

"On 31 August 2011, the Company issued 23,257,528 new shares at $0.52 per share to existing shareholders under a share purchase plan, issued 34,164,396 new shares at $0.65 per share to underwriters of the share purchase plan, placed 4,615,385 new shares at $0.65 per share and placed 26,666,666 new shares at $0.75 per share to institutions and investors. The total new capital raised was $57,346,857."

Added to this is the DRP plan operating on the 1st October 2013, and for the earlier April 2013 dividend. Add to that the $20m of capital being raised for the purchase of Seniors Money International Limited (“SMI”), the dividend reinvestment plan for the April 2014 dividend.

While rear vision mirror analysis is interesting, far more important is what is happening out of the front windscreen. On 17th December 2012 Heartland achieved bank registration. But the earliest reference to becoming a bank was some time around May 2011, when what was to become Heartland was still called Building Society Holdings. Just because Heartland became a bank on 17th December 2012, doesn't mean it was structurally deficient to become a bank on 16th December 2012. All of the necessary balance sheet requirements must have been with the Reserve Bank much earlier than that. The latest published officially available figures to the Reserve Bank were those on 30th June 2012. So I think it is a reasonable assumption that the Reserve Bank were in retrospect happy with the balance sheet at that time.

Why is the above of interest? Because management are not silly and they will have made sure the latest acquisition has not upset Heartland Bank's creditworthiness with the Reserve Bank. So perhaps a little reverse engineering of the figures related to the purchase Sentinel New Zealand (Sentinel) and Australian Seniors Finance (ASF) businesses, with combined assets of approximately NZ$760m might give us a good over the shoulder look of what looks OK in the mind of a Reserve Banker.

SNOOPY

[percy]

Go to the top of the class.!
Don't take your books as you will be back. lol.