Banking

Glenfed CEO Gets $1-Million Bonus: Steve Trafton, credited with leading Glendale Federal Bank through restructuring that averted a federal seizure, earned the bonus on top of a $680,000 base salary in the 1993 fiscal year, according to the Glendale-based thrift's proxy statement. Three other executives earned bonuses totaling $757,000 after the restructuring. Before paying the bonuses, Glenfed's board notified the Office of Thrift Supervision, and the federal regulator did not object, the thrift said.