The Federal Reserve on Tuesday announced a written agreement with Pinnacle Bank Holding Co. in Orange City, Fla.

Pinnacle agreed to serve as a source of strength to its $199.8 million-asset Pinnacle Bank, which has been operating under a consent order with the Federal Deposit Insurance Corp. and the State of Florida Office of Financial Regulation since July 2000.

The company was barred from paying dividends or taking on new debt with first obtaining Fed approval, among other things.

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