The bank announced in March that it would close the museum in Ruthwell, Dumfries and Galloway and transfer the contents to its Edinburgh headquarters for a special exhibition.

However, following a spirited campaign by locals in Ruthwell, the museum may now move into community ownership, the Daily Record reports.

Minister Henry Duncan established his “penny bank” for parishioners in Ruthwell in the south of Scotland in 1810. The museum on its site was acquired by TSB in the 1950s.

George Gordon, TSB corporate affairs director, said: “We have listened carefully to the concerns raised by the community representatives and are now exploring ways to work with local groups to transfer ownership of the museum and its contents over to the local community.

“We are proud of TSB’s origins in the savings bank movement, so will continue with our plans for an exhibition in Henry Duncan House in Edinburgh, bringing this story to an even wider audience.”