our history - celebrating over 147 years

1869

23 March. Southland Building, Land and Investment Society formed.

1876

Southland Building, Land and Investment Society changes its name to Southland Building and Investment Society and Bank of Deposit after the passing of the Building Societies Act 1876.

1894

SBS celebrates 25 years.

1896

The first premises specifically built for SBS is opened.

1906

The Directors of the Southland Building and Investment Society and Bank of Deposit decided to buy a bicycle at a cost of £12/10/-.

1919

SBS celebrates 50 years. It had lent and re-lent nearly £1.2million.

1934

SBS announced at its AGM that the Society could claim to have emerged from the economic blizzard of difficulties and uncertainties not only unimpaired but strengthened.

1935

SBS is the biggest of its kind in New Zealand with mortgages totaling £1.8 million – six times the amount of the next largest Society.

1944

SBS celebrates 75 years.

1945

Business in 1944 – 1945 is the second largest year in the history of SBS.

1947

Hugh Ritchie becomes the 6th Chairman of SBS (1947 – 1972).

1968

SBS opens a branch in Gore.

1969

SBS celebrates 100 years.

1972

SBS Director, Hugh Ritchie dies after 67 years of service.

1982

The Society’s operating surplus tops $1 million for the first time.

1984

January brings serious flooding in Invercargill. More than $1 million of SBS’ reserves go out in mortgage finance directly related to flood victims and their properties.

1985

The Society opens its Windsor branch in North Invercargill.

1987

The Society passes $200 million in total assets. The Society’s reserves top $10 million in the same year.

1987 - 1988

The Society opens its first branches in Christchurch, Dunedin and Queenstown.

1991

SBS members vote against the sale of SBS to Westpac.

1992

Ross Smith becomes the Chief Executive of SBS and the organisation moves into 51 Don Street.

1994

SBS celebrates 125 years and names Acton Smith as its Chairman.

1995

The Southland Building and Investment Society re-brands to be known as SBS.

2000 

SBS’ first subsidiary company, Finance Now Ltd, is launched.

2000

SBS opens its Invercargill based Contact Centre and expands to the North Island by opening a branch in Hamilton.

2001 – 2002

SBS opens its second and third branches in Christchurch.

2002

Full transactional banking and SBS website launched.
FANZ and Southsure are launched as SBS subsidiaries.

2005

SBS opens branches in Cromwell and Timaru.

2006

SBS opens branches in Blenheim, Tauranga and its fourth branch in Christchurch (Ferrymead).

2008

SBS achieves bank registration on October 7, making history by becoming the first building Society in the world to also become a registered bank. SBS total assets reach $2.43 billion.

2009

SBS Bank turns 140.

2010

Hastings Building Society (HBS) members vote 98% in favour of a merger with SBS Bank. The merger takes effect on 1 October 2010 with SBS products and services offered to Hawke's Bay customers under the HBS Bank brand.

2011

HBS Bank opens a branch in Havelock North.

2012

Funds given back to non-profit organisations through SBS Bank’s Star banking package reaches $500,000

SBS Bank named Financial Institution of the Year at the 2011 Roy Morgan Research Customer Satisfaction Awards.

Acton Smith steps down as SBS Bank Chairman after 18 years in the position.

John Ward is announced as new SBS Bank Chairman.

2013

SBS Bank named Financial Institution of the Year at the 2012 Roy Morgan Research Customer Satisfaction Awards.

2014

Ross Smith retires as SBS Bank CEO after nearly 22 years in the position.

Wayne Evans is announced as new Group Chief Executive.

2015
SBS Bank and HBS Bank branches unify under the SBS Bank brand

2016
SBS Group Chief Executive, Wayne Evans sadly passes away in January 2016 at the age of 49.

Shaun Drylie commences as the new SBS Group Chief Executive in August.


James Walker Bain

JAMES WALKER BAIN 

(1869 - 1899)
It was Bain who wanted the Society to be based on the principle of mutual help among its members rather than cutthroat competition for loan money. He wanted to help every person own their own home

 

Tay Street

The first premises built specifically for the Society in Tay Street and occupied from 1896 to 1925. 

100 Years

 

Hugh Ritchie

HUGH RITCHIE
(1947 - 1972)

"With long experience and full enquiries into the working of building societies overseas, I can say with confidence that our Society could be put up as a model for providing funds for home purposes. It is a self-contained institution, which has stood the test of 95 years’ operation with increasing usefulness to the community and lends mortgage money at perhaps the cheapest rate in the Dominion."


 

Southland Building and Investment Society
125 Years
SBS Bank

Charter

News rip

The Southland Building Society has won a long sought-after banking registration, ironically at a time when Northern Hemisphere banks are collapsing or receiving government bailouts.  


SBS Bank

  

 

SBS Bank
 
A copy of the current Southland Building Society (SBS Bank) Disclosure Statement along with our Term Investment Terms & Conditions and QFE Adviser Disclosure Statement are available on request and free of charge from any branch or agency of SBS Bank or on this website
© Southland Building Society, 2016