Smallest Bank in America — Oakwood State Bank

Budgets & Banking, Planning & Saving, Small Business
on August 23, 2009

Chartered by the Republic of Texas in 1845, Baylor University in Waco is the state’s oldest continuously operated university.

With just 600 checking accounts, the Oakwood State Bank in Oakwood (pop. 471) is believed to be the smallest bank in America.

Palacios (pop. 5,153) originally was named Trespalacios-“three palaces” in Spanish-after the bay on which it lies. According to legend, shipwrecked Spanish sailors imagined seeing three palaces on shore disappear as they approached. More than likely, the bay and seaside town were named after Jose Felix Trespalacios, a Mexican governor of the area in the early 1820s. The town name was shortened to Palacios in 1902.

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