Tasmanian-based parent company MyState Limited said the bank's home loan book increased by 4.7 per cent in the September quarter alone, to $5.7 billion.

If that was maintained for a full year, it would produce annual growth of about 19 per cent.

"These record home loan numbers are an outstanding result and a clear indication that our 2025 strategy to create scale and accelerate growth is working,' MyState Limited managing director and chief executive Mr Sulicich said.

Mr Sulicich said the home loan book's growth rate and a "dramatic" increase in the number of applications and settlements were because of momentum in the strategy.

"With financial year 2021's $55.5 million capital raise complete and 2025 strategy in place, we plan to see these results continue as we attract more customers from the eastern seaboard states through our offering, expansion of marketing activities and increased presence in the broker community," he said.

MyState Limited reported statutory net profit after tax of $36.3 million for 2020-21.

That was an increase of 20.9 per cent compared with the previous year.

"Our evolution as a digital bank that services a geographically more diverse customer base saw us improve on most metrics," chairman Miles Hampton said.

"Net profit after tax, earnings per share and net interest margin all increased and we harnessed the benefits of reduced funding costs and a significantly reduced impairment charge

"Our capital position puts us in a strong position to take market share and increase customer numbers, deposits and lending at MyState Bank and funds under management at TPT Wealth."

Mr Sulicich will retire at the end of December and will be replaced by experienced digital banker Brett Morgan.

Mr Hampton announced at Wednesday's annual meeting he would retire as chairman and as a director from March 31.

Non-executive director Vaughn Richtor will replace Mr Hampton as chairman.