Texas Bankers Association founded
On this day in 1885, the Texas Bankers Association, the oldest state bankers' association, was founded at Lampasas Springs (now Lampasas). Leading the promotion that brought thirty-one bankers from twenty-two Texas cities and towns was Frank R. Malone, cashier of the First National Bank in the host town, aided by E. M. Longcope, assistant cashier of the same bank. The banker-delegates convened at the colorful Park Hotel and selected as the organization's first president a Gonzales banker-lawyer, James Francis Miller, member of the United States Congress. Many of the early leaders of the TBA were Confederate veterans. Their chief objective in organizing the association was to promote legislative and regulatory changes for banking, specifically to bring about the repeal of the constitutional restriction against the chartering of state banks. In the 1990s the Texas Bankers Association had over 2,500 members and was headquartered in Austin.