The Mississippi Bankers Association was formally established at 12 noon on May 22, 1889, in Jackson at its first-ever convention. Thirty-one delegate bankers from as far away as Brookhaven and Water Valley took part in the convention.

Delegates wrote and adopted a Constitution and Bylaws, elected officers, and elected an Executive Committee (now known as the Board of Directors). Annual dues were set at $10 per bank. The board also decided to convene the following year on the third Tuesday in May. The MBA Annual Convention is still traditionally held in May.

The MBA's first chairman was Dr. S.S. Carter of Jackson, pictured here.