226:
222:
tailor where it remained for twenty years before relocating to a hat shop. Finally, a purpose-built independent office was established in the town in 1883. By 1885 the bank total deposits had risen to £20,000 (£3 million in 2023) and within a decade this figure increased ten-fold to £200,000 (£29 million in 2023). At the same time the number of customers more than quadrupled from 1,100 to 4,600. Deposits continued to double every decade such that by 1916 they had reached the £1 million mark (£86 million in 2023).
26:
904:
291:
In
January 2017, the board of trustees of Airdrie Savings Bank resolved that the bank should be wound up as a result of changing customer requirements and the increasing cost of regulation. The three remaining branches, including the head office, would close and customer deposits would be returned or
284:
and Ewan Brown each provided £1 million. Soutar stated that "Airdrie
Savings Bank represents what Scottish banks once stood for – security of funds, a focus on savings and outstanding personal service". He went on to say that: "We believe the mutual principle is fundamental to the integrity of
236:
During the First World War the bank continued to expand, opening new branches in
Coatbridge (1916) and Bellshill (1917). In 1925 the head office in Airdrie relocated to new premises at the bottom of Wellwynd in the town where it remains today. Further expansion in the 1930s resulted in new branches
221:
The first account was opened on 21 January 1835 with a deposit of £2 10s and by the end of 1835 a total of £355 had been deposited (over £44,000 in 2023). The first branch was opened in the
Session House of a local church but the church closed in 1841 and the bank moved to the shop premises of a
217:
Airdrie
Savings Bank was instituted in 1835 by the efforts of four “founding fathers” – Rev. John Carslaw (a local church minister and strong advocate of the temperance movement); Dr William Clark (a retired doctor and member of a wealthy old Airdrie family); Rev. Andrew Ferrier (another local
181:
Airdrie
Savings Bank was the only remaining independent savings bank in the UK. It operated on mutual principles, had no shareholders and was instead governed by a board of trustees, appointed to represent the interests of depositors and to ensure that the bank was managed properly.
218:
minister); and James Knox (a local hat and cap manufacturer). The first board of directors included several weavers, a blacksmith, a schoolmaster, a stonemason, a tailor and a salesman. Indeed, the blacksmith was vice-president of the bank for over twenty years.
213:
in 1810. Duncan's model was rapidly adopted across
Scotland, the rest of the UK and continental Europe. In 1924 the world's first International Thrift Congress was held in Milan and there were representatives there from 350 institutions around the world.
172:
at the time of the announcement of its closure. Total assets of the bank at 31 October 2013 were £158 million with a reported loss of £267,000. In
January 2017, the bank announced it would begin closure proceedings on 28 April of that year.
264:
In August 2010 it was announced that a new branch would be opened after a cash injection of £10 million, from a group of
Scottish entrepreneurs who support the bank's mutual model.
288:
On 28 May 2015, the bank announced that the branches at
Baillieston, Muirhead, Motherwell and Shotts would close on 28 August. The Falkirk branch closed in April 2016.
117:
107:
937:
957:
865:
947:
406:
952:
402:
269:
942:
932:
225:
145:
285:
the bank. We are doing this because so many Scots are dismayed at what has happened within the banking sector".
917:
242:
297:
169:
84:
839:
755:
292:
transferred to other financial institutions. Mortgages and secured loans were to be transferred to
206:
111:
121:
825:
Campsie, Alison (28 August 2010) "Tycoons hand last independent bank £10 million". Glasgow:
320:
8:
793:
135:
799:
804:
800:"The Annual RPI and Average Earnings for Britain, 1209 to Present (New Series)"
265:
92:
926:
776:
Knox, James (1927). The Triumph of Thrift. Airdrie: Baird & Hamilton Ltd
25:
909:
293:
277:
202:
36:
246:
161:
281:
258:
250:
230:
190:
273:
186:
168:. It ran three branches throughout the area, with its head office in
50:
254:
210:
165:
88:
46:
238:
303:
157:
296:, and any outstanding deposits were to be transferred to
887:. Airdrie: Baird & Hamilton Ltd. pp. 101–102.
866:"Airdrie Savings Bank to close after almost 182 years"
899:
876:
924:
193:at the time of the announcement of its closure.
185:In addition to Airdrie, there were branches in
788:
786:
784:
782:
840:"Airdrie Savings Bank to close four branches"
688:Alexander A. McArthur, Msc, CEng, MICE,FIHT
779:
304:List of presidents of Airdrie Savings Bank
24:
796:inflation figures are based on data from
756:"Airdrie Savings Bank to close its doors"
918:Official website of Airdrie Savings Bank
224:
925:
819:
753:
749:
747:
176:
797:
938:Companies based in North Lanarkshire
882:
754:Fraser, Douglas (18 January 2017).
744:
13:
958:2017 disestablishments in Scotland
68:Dr William Clark (first President)
14:
969:
895:
902:
209:in the Dumfriesshire village of
948:1835 establishments in Scotland
858:
832:
770:
1:
737:
261:in 1997 and Falkirk in 2011.
7:
728:Christopher J. Ormerod, CA
656:Gilbert K. Cox MBE, DL, JP
648:Alexander F. Bankier FRAgS
10:
974:
953:Airdrie, North Lanarkshire
704:Christopher J. Ormerod,CA
616:Christopher J. Ormerod,CA
196:
146:www.airdriesavingsbank.com
943:Banks established in 1835
933:Defunct banks of Scotland
141:
131:
98:
80:
72:
64:
56:
42:
32:
23:
504:Lt Col. John Macfarlane
798:Clark, Gregory (2017).
472:Col. J. Maurice Arthur
156:was a small commercial
233:
122:non executive chairman
885:The Triumph of Thrift
568:Andrew H.S. Marshall
228:
883:Knox, James (1927).
664:James C. Osborne BL
624:William M. Ross FFA
560:Andrew M.S. Cleland
512:James R. Cunningham
394:William Neilson, JP
154:Airdrie Savings Bank
19:Airdrie Savings Bank
720:James Armstrong JP
640:Harold F. Hamilton
600:Robert L. Paterson
480:Major W.A. Chapman
378:Thomas Jeffrey, JP
338:Rev Andrew Ferrier
205:was established by
177:Corporate structure
20:
872:. 18 January 2017.
794:Retail Price Index
680:James Armstong JP
672:David J. McCallum
536:Hugh K. Symington
424:Thomas Armour, JP
319:Dr William Clark,
266:Sir Angus Grossart
257:followed in 1969,
234:
136:Financial services
18:
735:
734:
584:Graham T. Cargey
552:William A Nelson
528:John G. McGregor
386:David Martyn, JP
362:Rev James McGown
346:Rev John Carslaw
330:Rev John Carslaw
249:(1936). A second
207:Rev. Henry Duncan
160:operation in the
151:
150:
965:
912:
907:
906:
905:
889:
888:
880:
874:
873:
862:
856:
855:
853:
851:
836:
830:
823:
817:
816:
814:
812:
790:
777:
774:
768:
767:
765:
763:
751:
696:David H. Towers
632:John C.A. Sword
576:John O. Ormerod
544:Peter S. Murray
520:Robert Paterson
308:
307:
270:Sir David Murray
245:(both 1931) and
28:
21:
17:
973:
972:
968:
967:
966:
964:
963:
962:
923:
922:
908:
903:
901:
898:
893:
892:
881:
877:
864:
863:
859:
849:
847:
838:
837:
833:
824:
820:
810:
808:
791:
780:
775:
771:
761:
759:
752:
745:
740:
608:William Irvine
432:William Fraser
416:D. Rankine, JP
370:Telford Martin
306:
201:The first true
199:
179:
127:
118:Jeremy Brettell
108:Roderick Ashley
101:
12:
11:
5:
971:
961:
960:
955:
950:
945:
940:
935:
921:
920:
914:
913:
897:
896:External links
894:
891:
890:
875:
870:HeraldScotland
857:
831:
818:
805:MeasuringWorth
778:
769:
742:
741:
739:
736:
733:
732:
729:
725:
724:
721:
717:
716:
713:
709:
708:
705:
701:
700:
697:
693:
692:
689:
685:
684:
681:
677:
676:
673:
669:
668:
665:
661:
660:
657:
653:
652:
649:
645:
644:
641:
637:
636:
633:
629:
628:
625:
621:
620:
617:
613:
612:
609:
605:
604:
601:
597:
596:
593:
592:Wm Norman Law
589:
588:
585:
581:
580:
577:
573:
572:
569:
565:
564:
561:
557:
556:
553:
549:
548:
545:
541:
540:
537:
533:
532:
529:
525:
524:
521:
517:
516:
513:
509:
508:
505:
501:
500:
497:
496:James Russell
493:
492:
489:
488:James Tennent
485:
484:
481:
477:
476:
473:
469:
468:
465:
464:John Harkness
461:
460:
457:
456:John McGregor
453:
452:
449:
445:
444:
441:
437:
436:
433:
429:
428:
425:
421:
420:
417:
413:
412:
409:
403:James Davidson
399:
398:
395:
391:
390:
387:
383:
382:
379:
375:
374:
371:
367:
366:
363:
359:
358:
355:
351:
350:
347:
343:
342:
339:
335:
334:
331:
327:
326:
323:
316:
315:
312:
305:
302:
282:Sir Tom Farmer
198:
195:
178:
175:
149:
148:
143:
139:
138:
133:
129:
128:
126:
125:
115:
104:
102:
99:
96:
95:
82:
78:
77:
74:
70:
69:
66:
62:
61:
58:
54:
53:
44:
40:
39:
34:
30:
29:
9:
6:
4:
3:
2:
970:
959:
956:
954:
951:
949:
946:
944:
941:
939:
936:
934:
931:
930:
928:
919:
916:
915:
911:
900:
886:
879:
871:
867:
861:
846:. 28 May 2015
845:
841:
835:
828:
822:
807:
806:
801:
795:
789:
787:
785:
783:
773:
757:
750:
748:
743:
730:
727:
726:
722:
719:
718:
714:
712:Robert Boyle
711:
710:
706:
703:
702:
698:
695:
694:
690:
687:
686:
682:
679:
678:
674:
671:
670:
666:
663:
662:
658:
655:
654:
650:
647:
646:
642:
639:
638:
634:
631:
630:
626:
623:
622:
618:
615:
614:
610:
607:
606:
602:
599:
598:
594:
591:
590:
586:
583:
582:
578:
575:
574:
570:
567:
566:
562:
559:
558:
554:
551:
550:
546:
543:
542:
538:
535:
534:
530:
527:
526:
522:
519:
518:
514:
511:
510:
506:
503:
502:
498:
495:
494:
490:
487:
486:
482:
479:
478:
474:
471:
470:
466:
463:
462:
458:
455:
454:
450:
448:David Martyn
447:
446:
442:
440:John Kennedy
439:
438:
434:
431:
430:
426:
423:
422:
418:
415:
414:
410:
408:
404:
401:
400:
396:
393:
392:
388:
385:
384:
380:
377:
376:
372:
369:
368:
364:
361:
360:
356:
353:
352:
348:
345:
344:
340:
337:
336:
332:
329:
328:
324:
322:
318:
317:
313:
310:
309:
301:
299:
298:Wesleyan Bank
295:
289:
286:
283:
279:
275:
271:
267:
262:
260:
256:
252:
248:
244:
240:
232:
227:
223:
219:
215:
212:
208:
204:
194:
192:
188:
183:
174:
171:
167:
163:
159:
155:
147:
144:
140:
137:
134:
130:
123:
119:
116:
113:
109:
106:
105:
103:
97:
94:
90:
86:
83:
79:
76:28 April 2017
75:
71:
67:
63:
59:
55:
52:
48:
45:
41:
38:
35:
31:
27:
22:
16:
910:Banks portal
884:
878:
869:
860:
850:12 September
848:. Retrieved
843:
834:
826:
821:
809:. Retrieved
803:
772:
760:. Retrieved
427:1926 - 1928
419:1923 - 1926
411:1921 - 1923
397:1919 - 1921
389:1906 - 1918
381:1890 - 1906
373:1866 - 1890
365:1861 - 1866
357:1848 - 1861
349:1841 - 1848
341:1840 - 1841
333:1837 - 1840
325:1835 - 1837
294:TSB Bank plc
290:
287:
278:Brian Souter
263:
235:
220:
216:
203:savings bank
200:
184:
180:
153:
152:
81:Headquarters
37:Savings bank
33:Company type
15:
354:James Knox
314:Presidency
162:Lanarkshire
927:Categories
827:The Herald
762:18 January
758:. BBC News
738:References
731:2014-2017
715:2010-2012
707:2008-2010
699:2006-2008
691:2004-2006
683:2002-2004
675:2000-2002
667:1998-2000
659:1996-1998
651:1994-1996
643:1992-1994
635:1990-1992
627:1988-1990
619:1986-1988
611:1984-1986
603:1982-1984
595:1980-1982
587:1978-1980
579:1976-1978
571:1974-1976
563:1972-1974
555:1970-1972
547:1968-1970
539:1966-1968
531:1963-1966
523:1959-1963
515:1956-1959
507:1953-1956
499:1950-1953
491:1947-1950
483:1944-1947
475:1941-1944
467:1938-1941
459:1935-1938
451:1932-1935
443:1931-1932
435:1928-1931
259:Motherwell
251:Coatbridge
247:Ballieston
231:Coatbridge
229:Branch in
191:Coatbridge
100:Key people
274:Ann Gloag
187:Bellshill
51:insurance
844:BBC News
255:Whifflet
253:branch,
243:Muirhead
211:Ruthwell
166:Scotland
164:area of
132:Products
89:Scotland
43:Industry
197:History
170:Airdrie
142:Website
85:Airdrie
73:Defunct
65:Founder
57:Founded
47:Finance
239:Shotts
811:7 May
723:2013
407:FRIBA
405:, JP
311:Name
852:2015
813:2024
764:2017
241:and
189:and
158:bank
60:1835
49:and
792:UK
237:in
112:CEO
929::
868:.
842:.
802:.
781:^
746:^
321:JP
300:.
280:,
276:,
272:,
268:,
93:UK
91:,
87:,
854:.
829:.
815:.
766:.
124:)
120:(
114:)
110:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.