The de novo raised the required $23.5 million in initial capital and opened on Aug. 26, according to the Federal Deposit Insurance Corp. The group applied with the FDIC in December, disclosing plans to open three branches.
Jeffrey Williams, former Jopin, Mo., regional president and Guaranty Bank, is the bank’s president and CEO. Guaranty Federal was sold to QCR Holdings in April 2022.
Four State eventually plans to expand into Arkansas, Kansas and Oklahoma.