Scotland business

Airdrie savings bank expands into Falkirk

Airdrie savings bank exterior
Image caption The Airdrie Savings Bank was established 176 years ago

The UK's last remaining independent bank is opening a new branch in Falkirk.

For the first time in 176 years, the Airdrie Savings Bank is expanding out of its traditional heartland.

Earlier this year the bank announced record lending figures.

The move is the first stage of an expansion plan being supported by a group of key Scottish business figures who deposited £10m into the bank in August 2010.

The group includes Brian Souter, Ann Gloag, Ewan Brown, Alastair Salvesen and Sir Tom Farmer.

The new branch in Falkirk's High Street will create five jobs for the town.

Falkirk branch manager Shirley Reid said: "Our expansion out of Lanarkshire represents an exciting step forward for Airdrie Savings Bank and hopefully Falkirk will be the first of several new branches across the country over the coming years."

Six of its seven branches are in towns across North Lanarkshire: Airdrie, Coatbridge, Motherwell, Shotts, Bellshill and Muirhead - with Ballieston just across the boundary in Glasgow.

The bank was founded on 1 January 1835 and was born out of the general "thrift" movement prevalent at the time.

It allows accounts to be opened with a deposit of 5p.

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