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Doubts are being raised about a proposal to merge TSB Bank with Heartland Bank.
Doubts are being raised about a proposal to merge TSB Bank with Heartland Bank with one former director of the Taranaki institution likening it to selling off the family silver.
But Toi Foundation - the TSB's sole shareholder - says the deal will give it the scale to strengthen its position over the long term.
TSB's website proudly describes how its humble roots began in New Plymouth 175 years ago, before eventually becoming a nationwide bank.
