Creating a laminated wooden text effect

Similarly type other alphabets. Apply same layer style.

Select and merge all the alphabet layers. Ctrl+Click the layer thumbnail to get the selection. Press Q to enable quick mask.

From "Filter" menu select "Distort>>Ocean Ripple ". Apply settings as shown.

Press Q again to disable quick mask. Press Ctrl+Shift+I to inverse the selection. Press Delete.

Double click the layer to open layer style window. Apply settings as shown.