Texas had a real problem with its banks being robbed in the 1920s. The problem was bad enough that the Texas Bank Association offered a $5,000 reward to anyone who shot a bank robber during the crime. A group of outlaws, led by Marshall Ratliff, devised a plan that they thought would protect them from law enforcement and reward-seeking vigilantes. Christmas was only a few days away so they figured having "Santa" with them while they robbed the First National Bank in Cisco, Texas would be their ticket to fortune. Marshall Ratliff, donning a stolen Santa suit, and his three accomplices entered the bank and proceeded to rob it on the morning of December 23, 1927. Within minutes, all hell broke loose and a gunfight broke out. The Santa Claus bandits would shoot their way out of the bank and make their getaway but they wouldn't find much Yuletide cheer in their future.

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