The former building society now has just over $1 billion in assets with the figure unveiled in Hume’s annual report officially tabled this week.

Hume Bank chief executive David Marshall, who presented the report to the organisation’s annual meeting on Thursday, also announced a $5.3 million pretax operating profit.

It was 14 per cent greater than last year’s return.

“This was a very pleasing result given the very competitive market and economic conditions,” Mr Marshall said.

“Our goal isn’t to maximise profit like the big banks, but we must still maintain strong profitability to invest in products and service, while supporting important community causes and meeting prudential requirements.”

Mr Marshall attributed the growth to low interest rates for home lending and continued housing development on the Border.

He said the $1 billion mark allowed for more focus on fostering internet services.

“It gives us more scale,” Mr Marshall said.

“It allows us to invest more heavily for our members and customers.

“It means we’ve been able to accelerate investment in online structures and services that our customers are wanting.”

The stark difference in size between Hume and the big four banks is clear in the assets of Westpac ($812 billion), ANZ ($889 billion), Commonwealth ($933 billion) and NAB ($945 billion).

The annual report noted Hume Bank’s lending rose by 7 per cent to $730 million and total deposit balances increased 6 per cent to $923 million.

”Our focus on remaining relevant to our customers by investing incapability is our absolute priority, whilst also contributing to the local economy by supporting local suppliers,” Mr Marshall said.

During the last year the bank’s Yackandandah branch was upgraded and Mr Marshall said some branches in Albury-Wodonga would be refurbished over the next 12 months.