The Federal Reserve Board has ordered Missouri Bank in Warrenton to pay a civil money penalty for violating the National Flood Insurance Act.
The $195 million-asset bank agreed to pay $1,870 to the National Flood Insurance Program, according to the Fed's press release Tuesday. The money will be deposited into the National Flood Mitigation Fund.
The order, dated last week, did not describe the violation. Federal law requires property owners in high-risk areas to purchase flood insurance, and banks are charged with ensuring that properties in these areas have sufficient coverage.