bankmecu has sold down some of its holding in MyState Financial. bankmecu sold 225,000 MyState shares over the last two weeks to release around A$500,000 in capital. bankmecu, a Melbourne-based mutual, now holds a little less than five per cent of the Hobart-based and ASX-listed MyState.Damien Walsh, chief executive of bankmecu, said the MyState holding was "very much a strategic investment. We are very happy with the yield on our MyState shares."Most of the bankmecu holding dates from the time of MyState's demutualisation in late 2009.Walsh said the recent share sale was "an opportunity to take some profit."Asked about the MyState half-year financial report released this week, Walsh said: "They made some good pick up in their trustee business and they are making good progress on their Rock acquisition in Queensland."