Federal regulators have fined two Nebraska men $25,000 and banned them from the banking industry.
In orders made public last week by the Federal Deposit Insurance Corporation, Kerwyn Stewart and Scott Moss consented to the terms of their punishment but admitted no wrongdoing.
The FDIC says Stewart and Moss kept commissions from insurance sales, commissions that belonged to their employer at the time, First State Bank of Shelton.
Cliff Keslar is president of First State Bank of Shelton. He says the incident occurred several years ago, when Stewart and Moss were bank loan officers. As part of their job, they sold crop insurance.
Keslar says Moss quit the bank in 2005, Stewart in 2006.
