The following biographical sketch was compiled at the time of induction into the Academy in 1986.

Dothan, Alabama, was the birthplace of Wallace Malone, Jr., on August 3, 1936.

Wallace Malone, Jr. is a graduate of Dothan High School and continued his education at the University of Alabama in Tuscaloosa, where he earned a B.S. degree. His desire for additional education opportunities was rewarded with an M.B.A. degree from the University of Pennsylvania.

After returning to Dothan, Mr. Malone entered the field of banking. As he advanced in his chosen business profession, he became active in all phases of his area's civic endeavors.

Wallace Malone, Jr. is married to the former Ocllo Smith. He and his wife have six children: Wallace Davis Malone III, Frances R. Joy, Catherine M. Wilson, S. Lee Robertson, Alyson D. Malone, and Ocllo R. Mason.

Mr. Malone was president of the First National Bank of Dothan, Alabama until 1972, at which time he was elected President of SouthTrust Corporation; in 1980 he was elected Chairman of the Board. He is a resident of Birmingham, where he is active in its religious, civic, cultural and educational affairs.