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NewsMacro

Oakworth Capital (OAKC) names W. Russell Carothers III to board of directors

A governance addition is in focus at Oakworth Capital Inc. (OTCQX: OAKC): the Birmingham, Alabama company appointed W. Russell "Russ" Carothers III to its board of directors, effective July 15, 2026. Chairman and CEO Scott Reed is the named executive behind the move, citing Carothers' depth of knowledge as the stated basis. The next confirmable milestone for the setup is the regulatory filing that will disclose Carothers' full director biography, committee placements, and independence determination.

By Talia GreenwoodMacro DeskJuly 15, 20262 min read
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Key takeaways

  • Oakworth Capital Inc. (OTCQX: OAKC), based in Birmingham, Alabama, appointed W. Russell "Russ" Carothers III to its board of directors, effective July 15, 2026.
  • Chairman and CEO Scott Reed made the appointment, citing Carothers' depth of knowledge as the stated rationale.
  • The announcement was distributed through PRNewswire and named Reed as the sole executive on record, with no statement from Carothers included.
  • The release does not detail Carothers' professional background or say whether he fills a new seat or succeeds a departing director.
  • A forthcoming regulatory filing is expected to disclose Carothers' full director biography, committee assignments, compensation, and independence determination.

A governance addition is in focus at Oakworth Capital Inc. (OTCQX: OAKC): the Birmingham, Alabama company appointed W. Russell "Russ" Carothers III to its board of directors, effective July 15, 2026. Chairman and CEO Scott Reed is the named executive behind the move, citing Carothers' depth of knowledge as the stated basis. The next confirmable milestone for the setup is the regulatory filing that will disclose Carothers' full director biography, committee placements, and independence determination.

The board appointment

The effective date for Carothers' seat on the Oakworth Capital board is July 15, 2026, the same day the company released the announcement. Reed holds both the Chairman and CEO titles at Oakworth Capital. The announcement, distributed through PRNewswire, names Reed as the sole executive on record. The release does not specify whether Carothers fills a newly created position or succeeds a departing director. His professional background and the specific experience he brings are not detailed in the source. No statement from Carothers appears in the release.

What to watch

Oakworth Capital trades on the OTCQX market under the ticker OAKC. The filing to watch is whatever Oakworth Capital submits next to the relevant regulatory body: that document will carry Carothers' full director profile, committee assignments, any compensation arrangement tied to the board seat, and his independence determination under applicable governance standards. Reed described Carothers' depth of knowledge as the rationale, though the statement as released through PRNewswire is truncated and the complete on-record characterization is not yet available from the source. The tape on OAKC turns next to that disclosure.

About this story

Filed by the macro desk of MarketPR on July 15, 2026. Source: prnewswire.com. Indicative figures are not investment advice.

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Frequently asked

Who was appointed to Oakworth Capital's board of directors?

W. Russell "Russ" Carothers III was appointed to the board of Oakworth Capital Inc., effective July 15, 2026.

Who made the appointment and why?

Chairman and CEO Scott Reed made the appointment, citing Carothers' depth of knowledge as the rationale, though the released statement is truncated.

Where does Oakworth Capital trade?

Oakworth Capital trades on the OTCQX market under the ticker OAKC.

What details about Carothers are still unknown?

His professional background, committee placements, any board-seat compensation, and independence determination are not detailed in the release and are expected in a forthcoming regulatory filing.

Did Carothers replace a departing director?

The release does not specify whether Carothers fills a newly created position or succeeds a departing director.