In 1975, Edinburgh merged with three other Scottish savings banks to form an enlarged South of Scotland TSB.
The Ruthwell claim was clearly chronologically correct but Forbes contention was that the Edinburgh model was superior.
[1] The Edinburgh Bank for Savings quickly opened four branches in the city but, according to the official history, it appears to have dwindled away to vanishing point by 1835, “not helped by its unyielding attitude” of some trustees to the new legislation, A fresh start was decided and (presumably dissenting trustees) decided to start a new institution.
It opened in a flat in a house at 87 Princes Street and staff salaries were paid by the trustees personally until 1840 when the Bank had accumulated sufficient funds to pay wages itself.
The Edinburgh Bank brought large amounts of cash from London as protection but only 275 out of 26,000 depositors withdrew their funds.
[2] Once again, the introduction of branches was considered in 1857 but fire destroyed head office and surplus funds were needed for rebuilding.
[1] The Page Committee report of 1973 recommended substantial consolidation of the trustee savings banks.