{{10-31-03 p.C-5845}}
[¶12,087] In the Matter of Edward A. Savikas and United-American Savings Bank,
Pittsburgh, Pennsylvania, Docket No. 03-087k (8-28-03).
Respondent agrees to pay civil money assessed by the FDIC in the amount
of $1,000.
In the Matter of
EDWARD A. SAVIKAS
individually, and as an institution-affiliated party of
UNITED-AMERICAN SAVINGS BANK
PITTSBURGH, PENNSYLVANIA
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-03-087k
Edward A. Savikas ("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 May 21, 2003, whereby
Respondent, solely for the purpose of this proceeding and without
admitting or denying any unsafe or unsound banking practice and/or
breach 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 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 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 Edward A. Savikas. 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 at Washington, D.C., this 28th day of August, 2003.
