In 1926, a flyer that was seen throughout what was the ol’ Wild West state of Texas promoted that the Texas Bankers Association was rewarding good Samaritans with hard cash for the legal killing of a bank robber while caught in action.
A controversial program that was meant to be effective, TBA implemented the Robbery Reward Program in an effort to reduce bank robberies happening throughout Texas, mostly focusing on the rural parts of the state. During a time of high crime and a failing economy in the 1920s, a cash payment — what started at $500, later increased to $5,000 — for a dead bank robber was appealing.
The announcement was first posted in the Texas Bankers Record (now known as the Texas Banking magazine) stating:
“The Texas Bankers Association has paid Capt. Tom Hickman, a Texas Ranger, $1,000 for the killing of two men. They were shot down after holding up and robbing the Red River National Bank of Clarksville of $33,125 on September 9, 1926. The men were killed after leaving the bank and before they could reach their waiting automobile. The $1,000 gift represents $500 for each dead yegg. $500 for each dead one in the future. TBA has not paid a money reward for bank criminals for 20 years until now. No rewards have been offered. No robbers have been killed before. However, from this date on, the Association will willingly pay a reward of $500 for each dead bank robber, killed while in the act of robbing a member bank in Texas.”
However, the fine print stated a bank had to be in good standing of membership with TBA in order to receive a cash reward for dead robbers.
“Your good bank is a subscribing member of the Dead Bandit reward plan, and as such is protected by the terms of the enclosed sign.”
The announcement spread like wildfire to offices of local law enforcement and the local news outlets, leading to flyers being spread around Texas towns of the cash reward for a dead bank robber.
While the number of bank robberies committed were drastically reduced, some members of law enforcement criticized the program. In 1928, Texas Rangers Capt. Frank Hamer said in a statement, “This reward has aroused the greed and desire of a small group of men who have more love for money than for human life.”
Perhaps one of the biggest tales to come from the program was the bank robbery that happened a year after TBA’s robbery reward announcement — the Santa Claus bank robbery in Cisco on December 23, 1927. A story this series has covered in the recent past.
There has also been some lore surrounding the reward, such as some culprits turning on their would-be partners in crime. Even one tale of a co-conspirator who killed his partner then claimed the reward for themselves.
While many more stories have followed, TBA discontinued the program in 1964 and changed the structure of what was the Robbery Reward Program.
Today, the program falls under TBA’s Foundation. Still intended to prevent and discourage bank robberies against Texas banks, the program no longer wants dead bank robbers but instead provides funds for rewards to those able to provide tips and/or assistance to local law enforcement that would lead to a conviction. Rewards are given upon the filing of formal charges against suspects.
The most recent reward was offered for an armed robbery of the Broadway Bank in Wimberley on June 20, 2019. The suspect wore a flesh-colored mask and gloves that it made it difficult to identify the suspect. Thanks to a tip, Jimmy James Mamoth, Jr., confessed to his participation in a string of robberies and attempted robberies including the Wimberley robbery; he was sentenced to 87 months in federal prison. The $5,000 reward was delivered to the informant by Hays County Sheriff’s Department.
The Foundation’s efforts include giving back to Texas communities through grants, providing scholarships to future bankers, improving financial literacy for all, assisting in natural or human-made disasters and so many other initiatives. The Robbery Reward Program has a lot of history, good and bad, but its motive today is to protect banks, bankers and its community from the danger of robbery and other crimes through the safe handling of information provided to local law enforcement.
If your institution has an unsolved robbery and law enforcement believes a reward for information would lead to an arrest, contact Foundation Director Jocelyn Carby at [email protected].