The former Co-operative Bank chairman who oversaw its near collapse has been caught buying and using drugs such as crystal meth, ketamine, crack cocaine and boasting of how plans for a party were “turning into a two day, drug fuelled gay orgy.”

The comments by the Rev Paul Flowers, 63, a Methodist minister in Bradford, were made in a text message to Stuart Davies, who has exposed Mr Flowers’ apparent drug use and drug dealing to the Mail on Sunday.

Mr Flowers was the £132,000-a-year chairman of the Co-op Bank from 2010 until May this year when he stepped down as the bank’s financial woes became apparent. The bank lost £700 million in the first six months of this year.

On 6 November, Mr Flowers was grilled by MPs on the Treasury Select Committee over the bank’s disastrous performance.

Stuart Davies, 26, first encountered the minister via the gay dating mobile phone app Grindr in early October. The two men exchanged texts and met a few weeks later. Mr Davies, who admits having used drugs in the past, said he was shocked by the scale of Mr Flowers’ drug taking.

“After hearing him bragging about his life, about his connections in Parliament, his 40 years in the church and his all-round good works, it just felt wrong,” said Mr Davies to the Mail. “He seemed to be using his status to get young men off their heads for sex.”

Mr Davies, who works in a bank, said drugs first came up in an chat on Grindr after their first meeting. He said Mr Flowers asked if he had used cocaine. “I’d had the odd line and that’s what I told him,” he said.

Video filmed earlier this month of Mr Flowers discussing a purchase of cocaine and crystal meth from a dealer in Leeds was published at the weekend by the Mail.

In the footage Mr Flowers counts out £300 in £20 notes and sends a friend to make the deal.

In one text to his friend, Mr Flowers wrote how his plans for a party were “turning into a two day, drug fuelled gay orgy!!!” In another, he boasted of how he was “snorting some good stuff”. That was sent on the day he was first scheduled to appear before the Commons committee, but the session ran out of time to hear him. And last week, he said in a text: “I’m on ket tonight.”

The text messages prove Mr Flowers was using hard drugs in the days surrounding his crucial testimony to the Treasury Committee on 6 November.

Along with being a Methodist minister for 40 years, Mr Flowers is a former chair of drugs charity Lifeline, whose motto is: “Telling the Truth About Drugs.” In one report, Mr Flowers wrote of “the ever-increasing problems associated with drug use faced by individuals, families and communities”.

In a statement on Monday, Mr Flowers said: “This year has been incredibly difficult, with a death in the family and the pressures of my role with the Co-operative Bank.

“At the lowest point in this terrible period, I did things that were stupid and wrong.

“I am sorry for this and I am seeking professional help, and apologise to all I have hurt or failed by my actions.”

The Methodist Church confirmed Rev Flowers has been suspended from his duties for three weeks, pending investigations.

A spokesman said it will also “work with the police if they feel a crime has been committed”.

He added: “We expect high standards of our ministers and we have procedures in place for when ministers fail to meet those standards.”

A spokesman for the Co-operative Bank said: “We can make no comment on these allegations which are of a personal nature and being made against a former board member.