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COMPTON VONS STORE HOUSES FIRST INTERSTATE BANK'S FIRST SUPERMARKET BRANCH IN LOS ANGELES COUNTY; GRAND OPENING WEDNESDAY, JAN. 12

 LOS ANGELES, Jan. 11 /PRNewswire/ -- First Interstate Bank opens its first supermarket office in Los Angeles County Wednesday, Jan. 12, when it begins taking deposits, making loans and handling investments from inside a new Vons grocery store in the city of Compton.
 First Interstate announced plans last March to open the $1.1 million branch as part of a commitment to invest $2 billion over 10 years in the economic development of California communities. The 45,000-square-foot supermarket is the first Los Angeles-area urban store developed as part of Vons' $100 million commitment to urban development.
 "Supermarket banking is the wave of the future," said branch manager Joyce Hurley, a local resident who previously managed First Interstate's Carson branch. "Customers love the convenience of shopping and banking in one stop. That brings supermarket customers to the bank and banking customers to the supermarket."
 Located at 111 Compton Blvd., the Compton Vons branch of the bank will provide a full range of banking services, excluding safe deposit boxes but including everything from checking accounts and credit cards to home loans, investments, small business loans and commercial lines of credit. The branch will also have an ATM, 24-hour convenience phone and night-depositor service.
 To provide maximum convenience to grocery customers, the branch will be open seven days a week, from 9 a.m. to 7 p.m. Monday through Friday, 9 a.m. to 5 p.m. Saturdays, and 10 a.m. to 4 p.m. on Sundays. The 700-square-foot office opens with a staff of 11 full- and part-time employees, most of whom have been hired from the local area. The branch's phone number is 310-884-5774.
 First Interstate Bank will participate in Vons' grand opening celebration on Wednesday, Jan. 12, starting with a ribbon-cutting ceremony at 8 a.m. First Interstate and Vons officials will be joined by Compton city officials and representatives of Compton development agencies.
 First Interstate opened its first two California supermarket branches -- both in San Diego County -- in October and November. The bank has more than 1,000 branches in 13 western states, including more than 100 supermarket branches in Arizona, Nevada, Texas and Utah.
 With $20 billion in assets, First Interstate Bank of California is the third largest bank in the state and the principal subsidiary of First Interstate Bancorp, the 14th largest commercial banking company in the United States. Its customers include individuals, small businesses, middle-market companies and selected large corporations and financial institutions.
 -0- 1/11/94
 /CONTACT: Rich Wyler, First Interstate Bank Public Communications, 213-614-4462 (office) or 213-613-5995 (pager); or Julie Reynolds, Vons Public Relations, 818-821-7290/


CO: First Interstate Bank of California; Vons Companies ST: California IN: FIN REA SU:

LS-MF -- LA011 -- 0895 01/11/94 10:00 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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