It ran three branches throughout the area, with its head office in Airdrie at the time of the announcement of its closure.

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.

Duncan's model was rapidly adopted across Scotland, the rest of the UK and continental Europe.

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.

In 1925 the head office in Airdrie relocated to new premises at the bottom of Wellwynd in the town where it remains today.

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.

The three remaining branches, including the head office, would close and customer deposits would be returned or transferred to other financial institutions.