William Madison McDonald rose from humble beginnings to create a financial empire that transformed Fort Worth’s African-American community in the early 1900s. His story exemplifies remarkable achievement during one of America’s most challenging periods.
From Slave’s Son to Texas Banking Pioneer
Born in 1866 to a freed slave, McDonald started working at age eight for a white lawyer. This early connection helped him attend college and shaped his future path.
His entrepreneurial spirit emerged early. Before turning 21, McDonald had already run a school and organized a state fair showcasing Black farmers’ achievements.
Building Fort Worth’s Black Business District
McDonald established the Fraternal Bank and Trust in 1906, marking a historic milestone as Texas’ first Black-owned bank. The institution stood proudly at Jones and Ninth Streets.
“From basically the beginning of the 20th century, Bill McDonald’s imprint was on Fort Worth,” says Bob Ray Sanders, retired Fort Worth Star-Telegram columnist. “He made his mark until the day he died.”
Financial Leadership During Great Depression
The bank thrived under McDonald’s leadership, even during economic turmoil. Remarkably, Fraternal Bank and Trust helped bail out struggling white-owned banks during the Great Depression.
Through his bank, McDonald provided crucial access to capital for Black entrepreneurs. This support fostered a vibrant business district with restaurants, hotels, and shops.
Republican Party Kingmaker and Community Leader
McDonald’s influence extended beyond banking into politics. He partnered with Col. Ned Green to lead Texas’ Republican Party through their “Black and Tan” faction.
“If blacks want your own business, you set it up,” McDonald often advised, according to historian Reby Cary. This philosophy of self-reliance resonated throughout the community.
Legacy Lives On Through Fort Worth’s History
Though McDonald died in 1950, his impact endures. A commemorative mural at Fort Worth’s train station celebrates his contributions to the city’s Black history.
“Bill McDonald was a way maker for a lot of people,” reflects Sanders. His story continues inspiring new generations of entrepreneurs.
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