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.
