Residents of Graignamanagh were awoken early Friday morning when the long metal arm of the JCB came down on the roof of the single storey premises and took out a large section of the building along with the ATM.

A local man who was going to work stopped his car as he went by the bank of Main Street at 5.28am and was warned by the man armed that he would be killed and to "f... off" if he knew what was good for him. He immediately rang his father-in-law who lives nearby and he quickly raised the alarm and rang the gardai.

He went to the scene but kept a safe distance between him and the raiders who were armed.

A number of garda units from New Ross, Thomastown and Kilkenny city responded within minutes. However the raiders had already made their getaway in a raid that last nine minutes.

They sped down High Street, Graignamanagh over the bridge linking the town with Tinnahinch, Co Carlow and on towards Ballymurphy or Glynn, Co Carlow. The raiders left the engine running in the JCB which had been stolen earlier from a local building site.

The robbery had been carefully planned and the raiders obviously knew that the local garda station, located directly across the road from the bank, was empty at the time.

The area has been cordoned off and officers are awaiting the arrival of a garda technical team.

Gardai say the robbery may be linked to a similar crime at Mother Hubbard's, Moyvalley, Co Kildare two weeks ago and are anxious to speak to anyone who saw anything suspicious between 4.30 and 5.45am around the Graignamanagh area. They are asked to call Thomastown station at 056-7754150.

Local councillor Ann Phelan hopes that the Bank of Ireland will immediately put in place measures to re-open the branch and wants a commitment that it will not be closed down . "We need our bank as it is crucial to the commercial survival of the town that it remains open and a temporary premises be found to continue operations in Graig'," she said.