Mid-State Bancshares, Arroyo Grande, Calif., has elected Albert L. Maguire chairman emeritus. Carrol R. Pruett, president and chief executive officer, succeeded him as chairman.

Mr. Maguire helped establish the company's Mid-State Bank with Walter A. Filer and other Central Coast businessmen in 1961. He was elected Mid-State Bank chairman in 1978 after Mr. Filer's death.

In addition, Mr. Maguire's son, Stephen P. Maguire, succeeded his father as a board member of the $1.2 billion-asset holding company. The younger Maguire joined his father's firm, Maguire Investments, in 1972 and was elected to its board in 1978 and president in 1980.

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