Oakwood Bank (TX) Has Top-Rate 48-Month CD


Deal Summary: 48-month CD, 2.02% APY, $2.5k minimum deposit.

Availability: Dallas metro area.

Oakwood Bank (Oakwood) is currently offering a 48-month CD earning 2.02% APY. The minimum opening deposit is $2.5k, with no stated balance cap.

I found this CD by chance, as DA collects no rate data from Oakwood. (No rates are listed on Oakwood’s website.) When I was checking out the 48-month CD (2.02% APY) offered by Community Bank of Snyder (CBoS), I noticed Oakwood branches listed as CBoS branches. Long story short, CBoS was acquired by Oakwood in the beginning of the year and operates as a division of Oakwood under the CBoS brand, offering the same product line as Oakwood.

According to CSR, the Early Withdrawal Penalty is six months of interest, with partial withdrawals allowed.


Headquartered in Dallas, Texas, Oakwood Bank’s primary market area is the greater Dallas metropolitan area, but also has a presence in the towns of Oakwood (Leon County) and Snyder (Scurry County).

Opening a CD can be done at any of three Texas branches, located in Dallas (2) and Oakwood. The Community Bank of Snyder (located in Snyder) was recently acquired by Oakwood Bank and offers the same product line (with the same rates).

Oakwood Bank’s online banking platform is currently limited to account management and bill pay services.

Bank Overview

Oakwood Bank has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 0.00% (excellent, and not a typo) based on December 31, 2019 data. In the past year, Oakwood Bank has increased its total non-brokered deposits by $78.86 million, an excellent annual growth rate of 37.34%. Please refer to our financial overview of Oakwood Bank (FDIC Certificate # 10334) for more details.

Established in 1900, the founding bank was known as The Oakwood State Bank. (Oakwood, Texas, was founded in 1872 as a stop on the International Railroad, a railway line that was supposed to span from Arkansas to Mexico.) In 2009, Oakwood State Bank was America’s smallest bank, with approximately $3 million in total assets and $2.13 million in total deposits. Rather than try to describe how small the smallest bank was, this short video should suffice.

In 2017, Oakwood Bancshares was formed and raised $38 million in capital to acquire Oakwood State Bank. The bank rebranded as Oakwood Bank and its headquarters were moved to Dallas. The acquisition of Community Bank of Snyder was formalized on January 1, 2020, with CBoS operating as a division of Oakwood.

How the CD Compares

When compared to 226 similar length of term CDs tracked by DepositAccounts.com that require a similar minimum deposit of and are available in the Dallas metro area, Oakwood Bank’s 48-month CD APY currently ranks first.

The above rates are accurate as of 6/24/2020.

Looking for the best CD rates, either nationwide or state-specific? Please refer to our CD Rates Table page.

*We continue to work to keep our rates up-to-date, but there have been just too many rate cuts for us to process quickly. For the time being, please be aware that the rates listed at DepositAccounts.com may not reflect the latest rates published by the banks and credit unions.

Related Pages: Dallas CD rates, Abilene CD rates, 5-year CD rates

  |     |   Comment #1
Hmmm never seen this bank but with things the way they are I might just have too. I checked out site an where their loc are will add they picked poor locations meaning just traffic really don't like traffic. Few years ago had opened accounts at Sovereign an TBK in Dallas both were more what I'd call boiler rooms than banks.
  |     |   Comment #2
Ken: I sent you an email. Best Cash Cow and Rates and Information websites list the rates at Oakwood Bank in Texas at about half the rate of your posting. The four year CD rate is 1.15% rather than 2.02%. Here are the links for verification:

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.