The bank officially known as the Aberystwith and Tregaron Bank was established at Aberystwyth, Cardiganshire in the beginning of the 19th century and was locally known as ‘Banc y Ddafad Ddu’, because the bank notes were imprinted with an engraving of a black sheep. The Bank later established a branch at Tregaron In the 1960s and 1970s the Bank's notes inspired a Mr Richard Williams to imitate them.