BANKING/FINANCE

Executives’ Compensation: Two executives at American Pacesetter, the holding company for San Clemente Savings Bank, didn’t make this year’s list of Orange County’s biggest income earners, but they’re sure to make it next year, according the Newport Beach company’s proxy.

The recently printed proxy shows that John W. Klug, the company’s chairman, and John R. Polen, the company’s executive vice president and head of the savings and loan subsidiary, last year received total compensation packages of $646,696 and $630,449, respectively. That would put both among the county’s 50 highest-paid executives.

Klug also earned $129,000 as chairman of Pacesetter Homes, a home building company spun off from American Pacesetter in 1988. The biggest portion of his compensation--$544,696--was a one-time distribution from American Pacesetter’s profit-sharing plan, which was terminated last year in favor of a pension plan.

Polen was paid $180,000 in salary, $180,449 from the profit-sharing plan and an award of stock valued at $270,000. The company also lent Polen $126,105 to pay state and federal taxes on the stock award.

Last year, American Pacesetter earned $126,000 on $41.5 million in revenue, contrasted with a loss of $178,000 on $38.5 million in revenue for the previous year.