Thursday, August 27, 2009

America's Smallest Bank: Oakwood Bank of Texas



Oakwood Bank, America's smallest bank, has about $3 million in total assets and about $2.13 million in total deposits (bank data here). In contrast, America's largest bank, Chase, has about $1.60 trillion of assets and almost $1 trillion of deposits, more than 500,000 times the size of Oakwood (bank data here).

Originally posted at Carpe Diem.


8 Comments:

At 8/27/2009 8:51 PM, Blogger OA said...

Those UBS millionaires should have stashed their money here instead of Switzerland. If they didn't have an interest bearing account, it'd be highly unlikely anyone would ever find it.

 
At 8/27/2009 10:04 PM, Anonymous Anonymous said...

dude, are you sure 1.5 billion is the correct number for boA?

 
At 8/27/2009 10:09 PM, Anonymous Anonymous said...

Note that Oakwood Tx has a population of 471 and the bank has 600 customers so they must be doing something right. The bank is a remnant of the old country Texas bank. A single office (which used to be what all Tx banks had to be due to Jacksonian/Jeffersonian rage at banks)Given the age of the employees (85,70,71)the banks days are clearly limited. This is the antithesis of financial innovation which has (benefited, cost)(choose one) society so much

 
At 8/27/2009 10:58 PM, Blogger Jody Wilson said...

Oops! 1.5 trillion / 3 million = 500,000 not 500.

thousand 1000
million 1,000,000
billion 1,000,000,000
trillion 1,000,000,000,000

 
At 8/28/2009 4:38 AM, Blogger 1 said...

What do you bet (unless someone has bought it up) the Oakwood bank won't be part of this crowd?

 
At 8/28/2009 7:11 AM, Blogger Webutante said...

This is terrific. He sounds like my father, who was chairman of a small---but not nearly that small---and still very prosperous bank here in Tennessee.

 
At 8/28/2009 12:55 PM, Blogger Craig Dennis said...

Q: "Why is this still here?"
A: "I don't know....***I guess we're still providing a service here."****


And that just about says it all.

 
At 8/28/2009 1:50 PM, Blogger M T said...

I work for a bank. When I saw this posting - all I was thinking was - how can a bank with this bank (oakwood) make business sense with $3 million in assets ? I made a google search and found this:

http://www.cbsnews.com/stories/2008/04/25/assignment_america/main4047743.shtml

They still have typewriters and each statement is typed ...........

Quite interesting !!!

 

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