Staff at Airdrie Savings Bank could be offered vacancies at TSB after it was announced the business will close.

The institution has confirmed all of its 70 employees are at risk of losing their jobs after it has been plagued by financial difficulties in recent years.

Employees of the North Lanarkshire-based bank, the UK's only remaining independent savings bank, were summoned to a meeting by bosses on Wednesday and were told the entire business will be wound up.

All of its 40,000 accounts will be shut by April, while chief executive Rod Ashley confirmed to STV News that compulsory redundancies could not be ruled out.

The bank's loan book will be transferred to TSB Bank with the rest of the business to be wound up by autumn.

The remaining branches in Airdrie, Coatbridge and Bellshill will shut as a result of the move.

The Scottish Government has said it will offer support to ASB staff and also revealed TSB will share vacancies with them and welcome applications.

A Scottish Government spokesman said: "Sadly, Airdrie Savings Bank advises that it is no longer able to compete in a changed banking world and the board has made the difficult decision to wind down now, in a controlled and orderly manner, thereby protecting customer deposits.

"This reflects the bank's prudent, careful approach to banking, which has served their local community well over many years and which will be sadly missed."

The spokesman added: "Neither the Scottish nor UK governments are able to intervene to 'rescue' the bank as direct intervention is prevented by state aid rules on aid to the banking sector.

"The Scottish Government's Partnership Action for Continuing Employment (PACE) will offer appropriate support to staff affected by this announcement.

"We understand TSB will share local vacancies with staff and welcome applications."

Unite the union said the closure of the institution would come as "a shock to many".

Mr Ashley said: "In taking this difficult decision, the trustees have taken full account of the bank's proud 181-year-old history.

"However, we are in absolutely no doubt that acting now from a position of financial strength is both prudent and responsible, and in the best future interests of our customers."

Mr Ashley cited a "shrinking customer base" and "declining footfall" as contributing to the closure.

He said: "Sad as the course of action outlined today is - in terms of our history and heritage - we are in absolutely no doubt it is in the best future interests of our customers."

In May 2015, the bank announced branches at Baillieston, Muirhead, Motherwell and Shotts would close before its Falkirk branch then shut its doors in April last year.

At that time, the bank said the move was a result of changes in branch usage and unsustainable operating costs, while around 20 jobs were lost.

On Wednesday, Unite regional officer Wendy Dunsmore said: "This announcement is a bitter disappointment and will come as a shock to many.

"Unite will be doing everything we can to support our Airdrie Savings Bank members during this incredibly sad and difficult time, and to make sure their employment rights are protected.

"Our understanding is that the bank has had to meet extra costs due to increased regulation following the financial crash of 2008. So Airdrie Savings Bank has become yet another innocent victim of casino bankers."

She added: "Even at this late stage, we would urge the Scottish and UK Governments and the banking regulators to work with us to explore all options for saving jobs."

The union said it would be opening talks with the Scottish Government's financial services task force, which was set up during the banking crash to help workers made redundant.