Don M. Griffith, a former executive vice president of First Interstate Bancorp, has been elected chairman and chief executive of First Coastal Bank, El Segundo, Calif.

Mr. Griffith is chief executive of California Community Corp., which received approval to buy a large block of First Coastal stock owned by the Pratt Group, Bakersfield. California Community also pumped capital into the bank.

At First Coastal he succeeds Stan Perisich, who remains a director. Jim Davis remains First Coastal's president.

Mr. Griffith was executive vice president and chief financial officer of First Interstate in the late 1980s. He founded and was chairman of Peninsula National Bank, Rolling Hills Estates, which late last year bought Bay Cities National Bank, Redondo Beach, and was bought in turn by Community First Financial Group of Indiana.

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