A group of prominent Scottish business people are ploughing about £10m into the Airdrie Savings Bank.
The group, including Sir Tom Farmer, Sir David Murray and Brian Souter, are investing to help the Lanarkshire bank expand and lend to more businesses, the BBC reports.
Souter said people were angry about what had happened to Scotland's banks and this was an opportunity to build a new "people's bank".
They plan to open one or two more branches over the next 18 months.
Airdrie, which celebrated its 175th birthday this year, is Scotland's last independent savings bank and because it operates as a mutual with no shareholders, it does not have to pay out dividends.
The business names willing to invest about £1m each in the bank head some of Scotland's biggest companies.
Sir Tom Farmer founded the Kwik Fit garage chain, while Sir David Murray remains a major shareholder in Rangers Football Club and chairman of the property-to-metals group Murray International Holdings.
They are joined by Brian Souter, chief executive of the Stagecoach transport group, and fellow board members, Anne Gloag and Ewan Brown.
Alastair Salvesen from the food group, Dawn Fresh, and financier Sir Angus Grossart are also among the investors.
Souter says the investment created the opportunity to build a new bank which was not concerned with paying big salaries and bonuses.
He said: "I think people are very tired and angry of what happened with our banks in Scotland and I think this creates an opportunity in the future to build a new bank which is based on mutual principles.
"It's not going to be speculating in all kinds of strange derivatives and it's not going to be a bank that's going to be focused overseas, it will be a bank that's focused in Scotland - and really it's a peoples' bank."
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