Herds from south west Wales travelled towards Hereford and Gloucester up the Tywi Valley to Llandovery. Herds from South Cardiganshire reached Llandovery through Llanybydder and Llansawel.[1] The drovers would then return to Wales with large amounts of money, which made them targets of bandits and highwaymen. The result was the formation in 1799 of the Banc yr Eidon in Llandovery, the Bank of the Black Ox, which was later purchased by Lloyds Bank.