The club was formed by four Ballymena businessmen on 7 April 1928, immediately gaining membership of the Irish League at the expense of Barn.

The club finished sixth in its first season and won the Irish Cup, beating Belfast Celtic 2–1 in the final.

They finished fifth in the League and Jimmy McCambridge became the club's first full international when he was capped for Ireland against Wales in February 1930.

In 1931–32, the club reached the final of the Gold Cup, but lost to Coleraine and finished sixth in the League.

A remark by club chairman Albert McClelland about making payments to amateurs was overheard and led to suspension and investigation by the Irish Football Association.