February 28, 1992 |
Officials at San Clemente Savings Bank said Thursday that they expect to ask federal regulators to try to sell the ailing thrift in order to avoid being shut down and placed under government control. John Polen, president of the S&L and executive vice president of its holding company, American Pacesetter, said the arrangement was proposed by the federal Office of Thrift Supervision after it rejected the holding company's Jan.
December 17, 1991 |
American Pacesetter, the holding company for San Clemente Savings Bank, said Monday that a third-quarter net loss of $2.9 million has eroded its subsidiary's capital so that the thrift no longer complies with any of the three minimum capital standards demanded by federal regulators. The $1.92-a-share loss, which compares to a net gain of $233,000, or 15 cents a share, in the third quarter of 1990, follows an examination by the federal Office of Thrift Supervision.
June 6, 1990 |
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.