Hastings Bank Fined $220,000 by Regulators

By: Associated Press
By: Associated Press

Hastings State Bank was fined $220,000 by federal regulators for unsound practices just before the bank was acquired by Pinnacle Bank last year.

The Federal Deposit Insurance Corporation recently released details of the enforcement action against the bank.

Hastings State Bank paid the fine outlined in the December order and agreed to hire a compliance officer to make sure consumer laws are being followed.

Scott Kvols with Pinnacle says the bank already had measures to address those concerns in place before it bought Hastings State Bank.

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