A former Texas Ranger and confederate soldier, Thomas C. Frost (1833-1903) began wool commission business as part of his mercantile enterprise in the 1870s. He purchased wool from producers throughout the state and stored it in warehouses on this site until prices increased. His storage facilities enabled wool producers to avoid selling their crops when the market was low, thus building up the industry. Frost gradually began to act as a banker for his customers and eventually gave up his other businesses to create the Frost National Bank.