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[¶12,198] In the Matter of Robert E. Solinger, Elderton State Bank, Elderton,
Pennsylvania, Docket No. 04-007k (4-30-04).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $1,000.
In the Matter of
ROBERT E. SOLINGER,
individually, and as an institution-affiliated party of
ELDERTON STATE BANK
ELDERTON, PENNSYLVANIA
(Insured State Nonmember Bank)
ORDER TO PAY
FDIC-04-007k
Robert E. Solinger ("Respondent") and a representative of
the Legal Division of the Federal Deposit Insurance Corporation
("FDIC") executed a STIPULATION AND CONSENT TO THE ISSUANCE OF AN
ORDER TO PAY ("CONSENT AGREEMENT") dated February 24, 2004,
whereby Respondent, solely for the purpose of this proceeding and
without admitting or denying any violation of law or regulations and/or
unsafe or unsound banking practices and/or breaches of fiduciary duty
for which civil money penalties may be assessed, consented and agreed
to pay civil money penalties in the amount specified below to the
Treasurer of the United States.
After taking into account the CONSENT AGREEMENT, the appropriateness of
the penalty with respect to the financial resources and good faith of
Respondent, the gravity of the conduct by Respondent, the
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history of previous conduct by Respondent, and such other
matters as justice may require, the FDIC accepts the CONSENT AGREEMENT
and issues the following:
ORDER TO PAY
IT IS HEREBY ORDERED, that by reason of the violations of law or
regulations and/or unsafe or unsound banking practices and/or breaches
of fiduciary duty set forth in paragraph 3 of the CONSENT AGREEMENT, a
penalty of $1,000 be, and hereby is, assessed against Robert E.
Solinger. The Respondent shall pay the civil money penalty to the
Treasurer of the United States.
IT IS FURTHER ORDERED, that the Respondent is prohibited from seeking
or accepting indemnification from any insured depository institution
for the civil money penalty assessed and paid in this matter.
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated this 30th day of April, 2004.