Couple of things...
A league president has no authority to ban you from tournaments and leagues. He *might* have the authority to kick you off HIS league, but in every league I've ever bowled in, that could only be done by a vote of the league's board of directors (varying in number anywhere from the league officers to league officers plus all team captains). To actually get your card/bowling privileges pulled is an entirely different kettle of fish.
If this person is also the association president, again, it's not a one-person decision. And you have appeal options above that level.
Given that the USBC is bleeding bowlers and it's even difficult to get prize fund thieves banned sometimes, yanking your card for throwing a shoe is a likelihood somewhere in line with pigs flying out of my butt.
Now, this is assuming we're getting a clear picture of the events from just your story. If you've been known to be a hothead in the past, your chances of incurring some damage from this go way up.
Here's what I'd do if it were me (this might not work for you): I've never given anyone a problem, so I have (hopefully) a good rep. I go to the president and talk it over with him one-on-one. If that solves the problem, fine.
But if it does not, I am polite but firm in that I did nothing wrong and I won't be apologizing to anyone. And if it comes to it, I will go up the chain of command at the USBC and even into civil court if I have to in order to get this straight. He can either agree to a stalemate or he's going to waste a lot of his spare time (and perhaps money on legal fees) in the coming weeks/months because I will go to WHATEVER level I have to go to in order to keep and maintain my good name. And in my case, at least, people know I'll make good that promise.
There are some league presidents out there that are nothing more than walking ego sacks. The good thing is those same people typically realize that, once you call their bluff, they really have no ground to stand on.
Jess