A bank holding company has agreed not to pay dividends or incur debt without Federal Reserve approval.

The Fed announced the agreement Tuesday with Venture Financial Group Inc. (VNBK), of Dupont, Wash. The company owns Venture Bank in Lacy, Wash.

The company also agreed not to buy or redeem any shares of its stock without Fed approval.

    -By Jeff Bater, Dow Jones Newswires; 202 862 9249; jeff.bater@dowjones.com