Altos Bank has opened in Los Altos, Calif.
The de novo opened on Nov. 25, according to the Federal Deposit Insurance Corp. Organizers were required to raise $25 million before opening.
Tom Vertin, former president and CEO of Golden State Bank, is Altos Bank’s CEO.
Four new banks have opened this year: Altos; Nova Bank in Huntsville, Ala.; Integrity Bank in Houston; and Four States Bank in Carthage, Mo.