The original Bank of Oak Grove building, a pillar of the Main Street community, was built in 1912, following a fire that destroyed the entire block of the town. A November 1930 newspaper reported that the Bank of Oak Grove, the only bank in West Carroll Parish, failed to open for business due to funds being held at the American Exchange Bank and Trust Company at the time of its financial collapse. One month later, the bank was reopened by the state banking department and all deposits were made available to customers. By the mid-20th century, a travertine, metal and glass slipcover encased the exterior. The building was gutted by a fire in 1997 and the shell has remained vacant since then. The new owners have addressed safety concerns and removed the slip cover from the building, as they develop plans for its rehabilitation.