Mr Kerry Betros announced as incoming Chairman of Heritage Bank

Heritage Bank has announced that Mr Kerry Betros will take over as the new Chairman of Directors in June.

Mr Betros has been a Director of Heritage since 1991 and Deputy Chairman since July last year. During that time, Mr Betros was the inaugural chairman of Heritage's Finance Committee and remains in that role. He has been chairman of the Audit Committee and served on numerous other committees.

Mr Betros will replace current Chairman Mr Brian Carter, who this week announced that he will retire after the June Board meeting.

Current Board member Dr Dennis Campbell will become the new Deputy Chairman. The new Director appointed to fill the vacancy left by Mr Carter's retirement is Brisbane financial services industry executive Mr David Thorpe.

Mr Betros is the Managing Director of well-known Darling Downs fruit and vegetable wholesaler/retailer Betros Brothers. This iconic family business has been operating in the region since 1938. He graduated from DDIAE (now USQ) with a Bachelor of Business majoring in management and accounting, and winning the College Medal. He is a Fellow of CPA Australia.

Mr Betros was a Director of St Vincent's Hospital in Toowoomba for 10 years and is well known across the Toowoomba region for his service to numerous charity and sporting organisations. In 2001, he was awarded the Centenary of Federation Medal for distinguished service to the community.

"I am humbled and honoured to be taking on the role of chairman of Heritage Bank," Mr Betros said.

"Heritage is a much-admired organisation that has prospered under the leadership of Brian Carter and I intend to protect and enhance that legacy.

"We have built a remarkable company with a very bright future, and I am looking forward to working with the entire Heritage team to ensure we continue to grow stronger and more successful."

The incoming Deputy Chairman, Dr Dennis Campbell, has been a Heritage Board member since 2000. Dr Campbell was previously a Chief Executive Officer in both the public and private health sectors including St Vincent's Hospital in Toowoomba where he served for 10 years and a Corporate Director with Legal Aid Queensland, also for 10 years. Dr Campbell holds a number of post graduate qualifications including a PhD and MBA. He is also a trustee of the Queensland Museum Foundation and is Chairperson of the Management Advisory Committee of the Cobb & Co Museum in Toowoomba.

"It is a great privilege to be appointed to this role and I look forward to supporting the Chairman and working to continue Heritage's ongoing success," Dr Campbell said.

The new Director, Mr David Thorpe, has extensive experience in the financial services industry. He was Chief Executive Officer of the Queensland Association of Permanent Building Societies and Associate Director of the Australian Finance Conference.

"I have worked with Heritage for over 20 years and been very impressed with the people, their culture and their community spirit," Mr Thorpe said. "It is a delight to now join the team."

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

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