Oakwood Bank
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1900 |
| Headquarters | Dallas , United States |
Area served | Oakwood, Texas; Dallas, Texas |
Key people | Roddy Rawls Wiley, Jr. (former leader), Dorothy Cadenhead (owner post-2010) |
Number of employees | 3 |
| Parent | Business First Bancshares, Inc. |
Oakwood Bank is a financial institution headquartered in Dallas, Texas, operating two branches located in Oakwood, Texas and Dallas. Previously, it functioned as a subsidiary under Oakwood Bancshares, Inc., a bank holding company, until it was acquired by Business First Bancshares.
History
Established in 1900 under the name Oakwood State Bank, leadership passed to Roddy Rawls Wiley, Jr. in 1958 following the passing of his father.
In 2005, the bank was assigned a "substantial noncompliance" rating according to the Community Reinvestment Act. By 2009, it earned the nickname "America's Smallest Bank," managing assets totaling $3 million and deposits of $2.13 million.
Throughout much of its existence, the bank operated with a minimal staff of three employees, including Wiley himself, and did not utilize automated teller machines.
Following Wiley’s death in 2010, ownership transferred to Dorothy Cadenhead. In April 2017, Oakwood Bank secured $38 million by selling a controlling interest to new leadership, facilitating its growth into the Dallas market.
On October 1, 2024, Business First Bancshares, Inc. finalized its acquisition of Oakwood Bancshares, Inc., the parent company overseeing Oakwood Bank.