It is a 100% New Zealand owned registered bank that has retained a mutual building society structure.

Seven years later in 1876 it was renamed as Southland Building and Investment Society and Bank of Deposit.

The bank's purpose was to provide a safe place for people to store their money and to help them get mortgages and own homes.

SBS Bank sponsors a wide range of local groups and clubs.

The Subsidiaries include, Finance Now (provides a wide range of personal lending, including car loans and Holiday Loans), SBS Insurance (offers house, contents, and car insurance as well as a range of personal insurance including life and income protection), and SBS Wealth (manages over $1.4 billion for more than 20,000 New Zealanders through providing Private Wealth services, the Lifestages KiwiSaver Scheme and the Lifestages Investment Funds).