The lore surrounding Texas bank robberies and the Wild West is rich, fueled by Hollywood productions and the stories passed down by generations of bankers. One story in particular is especially notable in the history of the Texas Bankers Association and our Foundation.
While the initial research on this event pointed us to a bank robbery in the panhandle (a story we hope to share in a future edition), it became clear that like many stories from the vault of Texas’ past, this one had its fair share of alterations and ambiguity.
In the 1920s, there was a notable increase in bank robberies across the state. In response, TBA instituted the rather controversial Dead Bank Robber Reward Program in 1926 to provide a cash reward of $5,000 for the legal killing of each bank robber. Of course the bank had to be a member in good standing.
Undoubtedly, this cash reward was on the minds of those involved with the 1927 bank robbery that became known as he Santa Claus Bank Robbery.
Two days before Christmas in 1927, Santa visited the small town of Cisco, west of Fort Wort, where 24-year old Marshall Ratliff, donning the Santa suit, arrived at Cisco’s First National Bank with three accomplices following closely behind.
What ensued upon their arrival is nothing short of an old western film’s classic bank robbery. The men brandished their weapons, citizens in the bank fled, then police (and armed citizens) arrived to defend the bank. It is estimated that there were over 200 bullet holes in the bank building by end of the shoot-out.
Ratliff and his gang quickly fled the scene in a car that had a flat tire and little gas, but with $12,400 in cash, $150,000 in nonnegotiable securities and two young hostages in tow.
While stopping at a gas station outside of town to steal another car, the robbers moved one of their injured members to the new vehicle along with their spoils only to find that they did not have the keys. In the shuffle, they left behind one of their own along with the hostages and stolen money, which was promptly recovered by officials and returned to the bank.
Fleeing on foot, the remaining robbers stole a car the next morning which they soon wrecked. The following chase (on foot and in additional stolen cars) took them north, to South Bend and the subsequent manhunt lasted for several days. Ultimately captured, some records note that at the time, this was the largest manhunt in Texas History.
The Texas State Historical Association’s account of the Santa Claus Bank Robbery notes that the Texas Bankers Association offer of a $5,000 reward for the legal killing of each bank robber, through TBA’s Dead Bank Robber Reward Program, may have played a role in fueling the extensive manhunt.
Cisco’s First National Bank, while no longer located in the original building where the robbery and shoot out occurred, has not forgotten its place in Texas bank robbery lore. In fact, the Texas State Historical Survey Committee later commemorated the robbery with a plaque on the building in 1967.
Today, the Texas Bankers Foundation still has a robbery reward program, the descendant of the Dead Bank Robbery Reward program that ended in 1964. Rather than paying for the bodies of bank robbers, this program focuses on preventing and discouraging robberies by assisting law enforcement in obtaining information.
Through researching this story, it became challenging to connect the tale with the current generation of bankers who may be able to speak to its legacy, especially in the community of Cisco. And in some versions of the story, it appears that maybe this robbery has been conflated with a robbery in Amarillo, which we hope to cover in a future edition.
In this new era of banking, the Texas Bankers Association and Foundation continue to identify and implement creative solutions for the banking industry in Texas, and the evolution of the robbery reward program is just one example, with a fascinating history.