Prepared By R.R. Donnelley Financial -- Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): 06/06/2008

First State Bancorporation

(Exact name of registrant as specified in its charter)

Commission File Number: 001-12487

New Mexico		85-0366665
(State or other jurisdiction of		(IRS Employer
incorporation)		Identification No.)

7900 Jefferson NE

Albuquerque, NM 87109

(Address of principal executive offices, including zip code)

505-241-7500

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On June 6, 2008, First State Bancorporation (the "Company") held its annual meeting of shareholders. During the annual meeting, the shareholders of the Company elected four director nominees; Daniel H. Lopez, Ph.D., Linda S. Childears, Michael J. Blake, and Garrey E. Carruthers, Ph.D., for terms ending at the 2011 annual meeting or until their successors are duly elected and qualified. The Company's Board of Directors approved Dr. Carruthers appointments to its Compensation Committee and Nominating Committee. A copy of the press release concerning Dr. Carruthers election is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Herman N. Wisenteiner, a director since 1993, did not stand for re-election, as he exceeds the maximum age allowed under the Company's Bylaws. Lowell A. Hare, a director of the Company since December 2002, will replace Mr. Wisenteiner as Presiding Director for meetings of the Company's independent directors.

Item 9.01. Financial Statements and Exhibits

(d)Exhibits

Exhibit 99.1 First State Bancorporation press release dated June 6, 2008

Signature(s)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		First State Bancorporation


Date: June 09, 2008	By:	/s/ Christopher C. Spencer
		Christopher C. Spencer
		Senior Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.		Description
EX-99.1		First State Bancorporation press release dated June 6, 2008

EX-99.1 2 rrd210258_24732.htm FIRST STATE BANCORPORATION PRESS RELEASE DATED JUNE 6, 2008 Exhibit 99.1

NEWS RELEASE

H. Patrick Dee
Chief Operating Officer
(505) 241-7102

Christopher C. Spencer
Chief Financial Officer
(505) 241-7154

FIRST STATE BANCORPORATION ANNOUNCES
ELECTION OF GARREY E. CARRUTHERS TO BOARD

Albuquerque, NM--June 6, 2008--First State Bancorporation ("First State") (NASDAQ:FSNM) announced today that Garrey E. Carruthers, Ph.D., Dean of New Mexico State University's College of Business, has been elected to serve on the First State Board of Directors, effective June 6, 2008. "We are honored that Dr. Carruthers has joined our board and welcome his extensive experience, knowledge, and skills" stated Michael R. Stanford, President and CEO. On June 6, 2008, the Board of Directors approved Dr. Carruthers appointments to its Compensation Committee and Nominating Committee.

Dr. Carruthers has been Dean of New Mexico State University's College of Business since July 2003 and has served as Vice President for Economic Development for New Mexico State University since 2006. From 1993 to 2003, he served as President and CEO of the Cimarron Health Plan. From April 2004, he served as a director of Access Anytime Bancorporation until Access was acquired by First State in 2006. Dr. Carruthers has served on the First Community Bank Advisory Board for Las Cruces, New Mexico since 2006. Dr. Carruthers also served on the First Community Bank Advisory Board for Albuquerque, New Mexico from 2000 to 2003. Dr. Carruthers was Governor of the State of New Mexico from 1987 to 1990. He has extensive past service with the federal government in sub-cabinet posts prior to 1984.

Dr. Carruthers is active on a number of community and statewide boards and has been an officer and director of numerous organizations. Dr. Carruthers earned his bachelor's and master's degrees at New Mexico State and his Ph.D. in economics at Iowa State University in 1968. He and his wife Kathy reside in Las Cruces, New Mexico.

ABOUT FIRST STATE

First State is a New Mexico-based bank holding company. First State provides commercial banking services to businesses through its subsidiary bank, First Community Bank. First Community Bank currently operates 61 branch offices, in New Mexico Colorado, Arizona, and Utah. On June 6, 2008, First State Bancorporation's stock (NASDAQ:FSNM) closed at $7.21.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

First State's news releases and filings with the Securities and Exchange Commission are available through the Investor Relations section of First State's website at www.fcbnm.com. Investors and securityholders may also obtain these documents free of charge at the SEC's website at www.sec.gov.

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