Sharpe, who was formerly chief executive of Portman Building Society, joined West Brom in October 2008, as the society was in the midst of a debt crisis.
Between his appointment and the year-end in March 2009, he earned a total £228,000 in pay, bonuses and benefits.
The society posted pre-tax losses of £48.4m for the 2008/09 financial year.
Sharpe’s 2009/10 pay package included basic pay of £390,000, a £150,000 bonus, £98,000 of benefits in lieu of pension contributions and £22,000 in other benefits.
West Brom’s former chief executive Stephen Karle, who resigned from the society in October 2008, took home more than £600,000 in pay and benefits for the seven months of 2008 before his departure.
West Brom revealed in May that it had secured a deal to sell broker franchise Mortgageforce to the firm’s existing management for a nominal amount as part of its “back to basics” strategy to focus on its core operations of mortgage lending and savings.
The building society last year revealed it was considering embarking on a rebranding exercise to shake off its tarnished image.
Speaking as the society posted its annual results in May, Sharpe said: “The improvement on last year’s results clearly indicates that we are starting to see the benefits of the West Brom’s ’Back to Basics’ strategy with its renewed focus upon our traditional strengths as a regionally-based building society and concentrating on our core activities of savings and residential mortgages.
“This means that we have split the group between the traditional building society operations and those that are now in run-off, such as commercial lending, and we are applying the right management focus and skills to each.”