MANAGERS have been branded arrogant as they push ahead with plans to close a town’s only bank.

HSBC will close its branch in Main Street, Shildon , County Durham, on October 12, despite local protests.

Protestors say the plan will leave Shildon residents, many elderly or disabled, with a six-mile round trip to visit a bank.

The decision is being blamed on a drop in footfall at the Shildon bank. Nationally, HSBC plans to close 70 branches.

Campaigners gathered outside the Shildon bank yesterday collected 400 signatures on a petition against the move.

Helen Goodman, Bishop Auckland Labour MP, who joined the protestors, said: “We’ve seen how arrogant banks are. They feel they’re too big to fail.

“This decision seems to have been made by someone looking at a spreadsheet in London who feels the Shildon branch is not making enough money.

“HSBC believes it can make more money on the international money markets and doesn’t care about its ordinary customers.”

She said many of Shildon’s 10,000 residents do not have access to internet banking.

The MP has voiced her concerns about the issue in the House of Commons and will write to HSBC again. She will also try to encourage other areas facing cuts to present a united front.

Charles Acriviadis, Shildon resident, said: “I’m a HSBC customer and I don’t know why this decision has been taken.

“It’ll be difficult for me as I use a mobility scooter. I have a bus pass but it will be hard for me on the bus and it’s too expensive to use a taxi.”

Shildon town councillor Ann Hammond said: “HSBC has made the decision to close and I don’t think it will reverse it.

“I think 700 people use the bank so how can they shut it?

It’s vital to have a bank in Shildon and I would support moves to attract a different bank.”

HSBC will not leave a cashpoint and the branch’s two staff members will be transferred elsewhere.

A HSBC spokesman said: “We need to ensure branches are in the right locations and this means we occasionally close branches where customer footfall has fallen dramatically.

“The Shildon branch is only open for 20 hours a week and is not open on a weekend.

“Customer usage has fallen very significant