When I bought my 67 Malibu the owner said a 327 out of a 69 Impala,
#3932386 was put in. I have searched this # and it matches up. Was this engine only built with 235 HP?

For 1969 the 327 in an Impala was 235hp.
Pad codes were FA,FB,FC,FG & FH.

Thanks for the quick reply. If I can add one more question in this thread. The previous also said he switched heads to 305 for compression reasons. Does this make sense to you.

The 327 usually had 70/76cc chamber heads and the 305 usually had 58/60 cc heads depending on year/casting number.
The reduced cc would increase the CR possibly up to 10.5 from the original 9.0 depending on the gasket used.

Thank's Guys