Industry: Banking/Finance

Frank Maxwell Moody

  • September 9th, 2021

Frank Maxwell Moody, dedicated banker, and civic leader, learned early in life the value of the Puritan work ethic.

Moody attended The University of Alabama, excelling in athletics, military training, and academics. His achievements culminated with his selection into Phi Beta Kappa after his graduation in 1897. Moody developed a deep sense of loyalty to the University, serving as president of the alumni association in 1911 and 1912. Moody embarked on his banking career as a runner and junior clerk, working for First National Bank of Tuscaloosa, the bank his grandfather had established. In 1900, he married Beverly Hill, who died in 1906. In 1911, he married Sarah McCorkle. At the beginning of his career, Moody would sell Mutual Benefit Life Insurance to supplement his meager salary. Through this venture, he would eventually open an insurance firm, Meredith-Moody Insurance Firm, which Moody was a part of until he sold his interest in 1940. In 1921, Moody became the president of First National Bank, upon the death of his father, and served faithfully for almost two decades. Professionally, he was associated with the Alabama Bankers’ Association, as president, the American Bankers’ Association, and the Birmingham Branch of the Federal Reserve. He also served his community. During World War I, he was loan chairman for all liberty loan campaigns in the area and served as the director of the Alabama War Finance Corporation. In the community, he held positions with the Tuscaloosa Rotary Club, the Tuscaloosa Chamber of Commerce, and the Tuscaloosa Community Chest.

Mervyn Hayden Sterne

  • September 9th, 2021

Mervyn Hayden Sterne made Birmingham his home in 1909, and for more than six decades he would be one of its most notable leaders.

In 1916, he formed M.H. Sterne and Company, a firm specializing in stocks and bonds. In 1917, Sterne suspended business and joined the Army, was commissioned a First Lieutenant, and served eleven months in France. After his discharge, he formed the investment banking firm of Ward, Sterne, and Company, which became one of the leading financial institutions in the state. Today, Sterne, Agee, and Leach, Inc., is a prominent investment banking business. Sterne and his partners were pioneers in financing schools and modern road paving programs. In 1922, Sterne married Dorah Heyman. Sterne’s dedicated spirit extended to his religious life as well. He was affiliated with Temple Emanu-El. In 1936, he was the first chairman of Birmingham’s United Jewish Fund. Sterne served in World War II, serving as a major with the Army Services Forces, General Staff Corps. Upon his discharge, he returned to Birmingham where he raised more than $400,000 in just two days for aid for Europe’s Jews. He also organized a fundraising drive for Birmingham Southern College and Howard College, which raised $1,500,000 in just seventeen days. In 1948, he was nominated for Birmingham Man of the Year. In 1968, the Alabama Securities Dealers Association recognized him as one of the south’s leading investment bankers.

Wallace Davis Malone Sr.

  • September 9th, 2021

Wallace Davis Malone, Sr. built First National Bank into one of the largest financial institutions in the southeast.

Malone, a graduate of Dothan High School in 1912, received his Bachelor of Arts degree in 1915 from The University of Alabama. He then entered the Harvard Graduate School of Business Administration but left prematurely to serve in World War I. After serving in France, he was honorably discharged as a First Lieutenant. Malone returned to Dothan to become manager of the Dothan Guano Company, a large fertilizer manufacturing company. He eventually bought the company’s outstanding stock and controlled the company until selling it in 1955. In 1934, Malone married Alice Mae Dee. When his father died in 1939, Malone became president and chairman of the board of First National Bank. During his tenure with the bank, it became one of the largest financial institutions in the southeast. In 1954, President Dwight Eisenhower appointed Malone to the National Council of Consultants of the Small Business Administration. Malone also served in several political capacities across the state. He served on the Dothan City Council and the Alabama House of Representatives. Malone was active in the community as a founder of the Alabama State Chamber of Commerce and The Haven, a rescue home for alcoholics in Dothan. During World War II, Malone became a dedicated conservationist. Under Malone’s guidance, the Alabama Bankers Association promoted soil conservation. When Malone resigned in 1954, he began to travel. His ventures took him across America, Africa, South America, and Vietnam.

X