http://www.fcbnm.com
Corporate Profile:  http://www.snl.com/irweblinkx/corporateprofile.aspx?iid=100565

First State Bancorporation (NASDAQ: FSNM) is New Mexico's largest locally managed bank holding company. Through its wholly owned subsidiary First Community Bank, (formerly First State Bank, N.M.), its strategy is to provide a business culture that offers individualized customer service. First Community's flexible approach, which combines direct access to decision makers, the latest in technology, a wide menu of product offerings, and increasingly convenient branch locations, has allowed First Community Bank to profitably capture market share.

History: First State Bank was founded in Taos, New Mexico in 1922 and has continually served the Taos market. First State Bancorporation was founded in 1988 to acquire First State Bank. National Bank of Albuquerque was merged into First State Bank in 1991. First State made its initial public offering in November of 1993. In December of 1993, First State entered the Santa Fe market with the acquisition of First State Bank of Santa Fe. In October 2002, First State acquired First Community Industrial Bank (FCIB) with operations in Colorado and Utah and FCIB was merged into First State Bank. 

In December 2005, the name First State Bank N.M. was officially changed to First Community Bank to better reflect the bank's business practices. The logo was also retooled in each market to provide a consistent name and image across all markets.

In January 2006, First State Bancorporation acquired New Mexico Financial Corporation and its wholly owned subsidiary, Ranchers Banks and Access Anytime Bancorp, Inc. and its wholly owned subsidiary, AccessBank.

On March 1, 2007, First State completed the acquisition and merger of Front Range Capital Corporation and its subsidary, Heritage Bank ("Front Range").

Operations: First Community Bank currently operates 36 New Mexico branches in Albuquerque, Belen, Bernalillo, Los Lunas, Moriarty, Placitas, Pojoaque, Rio Rancho, Grants, Gallup, Las Cruces, Portales, Santa Fe and Taos; and 4 Arizona branches in Phoenix and Sun City.

First State Bancorporation expects to continue pursuing this aggressive growth strategy through a combination of internal growth and de novo branch openings within the existing four state footprint. First Community has grown from total assets of $173 million, total loans of $121 million, and total deposits of $150 million at December 31, 1993, to total assets of $3.5 billion, total loans of $2.6 billion, and total deposits of $2.6 billion as of March 31, 2008.

Commitment to Community: Widely recognized for its continued commitment to its customers and communities, First Community Bank takes pride in its role as a socially responsible corporate citizen. First Community Bank actively supports community activities through both financial contributions and volunteer hours given by its officers, directors and employees. First Community Bank counts education facilities, business organizations, healthcare facilities, children's charities, and arts organizations among the many groups which it supports.

Our Vision
By developing strong personal relationships, to be the preferred independent community bank in the markets we serve.

Our Belief
By valuing our employees and empowering them at every level, we will provide our customers exceptional, personal service--better access to decision makers, fast useful information, and solutions tailored to their individual needs.

Our Values

Integrity
Being honest and sincere. Taking responsibility and following through with commitments.

Trust
Presuming the best and empowering one another.

Respect
Treating each other with consideration.

Communication
Speaking and listening openly, honestly and completely.

Collaboration
Being flexible and valuing others' input. Working together to achieve success for all.

Our Motto
Not Your Typical Bankers, Not Your Typical Bank

(And be sure to HAVE FUN!)

Our Position Statement on Discrimination
Our Board of Directors is committed to ensuring fair lending in our bank. Applications are considered without regard to race, sex or other prohibited bases. Excluding any segment of society from fundamental economic opportunities, such as home ownership and equal access to credit, is illegal.

Learn More About Us
Read the tale about First Community Bank; our history, our spirit, and our commitment to the community.

July 9th, 2009:  8K

Notice the bold text (60 days)- that's from the date July 2nd making 60 days later approx the first of September. Soooooo, anytime between now and then we might see another 8K or PR hopefully approving their submission.

On July 2, 2009, First State Bancorporation (the "Company") and its subsidiary bank, First Community Bank ("Bank"), executed a written agreement ("Agreement") with the Federal Reserve Bank of Kansas City and the New Mexico Financial Institutions Division (collectively, the "Regulators"). The Agreement is based on findings of the Regulators identified in an examination of the Bank and the Company during January and February of 2009. Several of the provisions in the Agreement are similar to an informal agreement entered into by the Company and the Bank in September 2008.

Under the terms of the Agreement, the Company and or the Bank agreed, among other things, to engage an independent consultant acceptable to the Regulators to assess the Bank's management and staffing needs, assess the qualifications and performance of all officers of the Bank, and assess the current structure and compositions of the Bank's board of directors and its committees. In addition, within 60 days of the Agreement, the Company and or the Bank will submit a written plan to strengthen lending and credit risk management practices and improve the Bank's position regarding past due loans, problem loans, classified loans, and other real estate owned; maintain sufficient capital at the Bank, holding company and the consolidated level; improve the Bank's earnings and overall condition; and improve management of the Bank's liquidity position, funds management process, and interest rate risk management.
 

FSNM fundie links:
http://www.finviz.com/quote.ashx?t=fsnm
http://www.j3sg.com/Reports/Stock-Insider/Generate.php?DV=yes&tickerLookUp=FSNM
http://finance.yahoo.com/q/ks?s=FSNM
http://quicktake.morningstar.com/stocknet/industrysnapshot.aspx?Country=USA&Symbol=fsnm&36838
http://data.cnbc.com/quotes/FSNM/

FSNM institutional and insider buying activities:
Institutional
http://www.mffais.com/fsnm
http://206.222.29.162/institution/subject.jsp?subject=0000897861&company=FSNM
http://data.cnbc.com/quotes/FSNM/tab/8

Insiders
http://www.secform4.com/insider-trading/897861.htm
http://www.insidercow.com/history/company.jsp?company=fsnm

Confirmed with I/R on August 20, 2009 (thanks plastipunk):
A/S 50,000,000
O/S 20,608,000 as of June 30th, 2009
An approx. 1.7 million buy back which brought the O/S to its current level

HOLDINGS SUMMARY

Shareholders

Top Shareholders

Institutions	49 Holders, 35.3% owned of O/S, $14,907,475 Value
Mutual Funds	43 Holders, 12.8% owned of O/S, $4,383,120 Value
Other Major Holders	49 Holders, 35.3% owned of O/S, $14,907,475 Value

 

SHAREHOLDERS CONCENTRATION

Top Institutional Holders

Concentration of Current % Held

Top 10 Institutions:

Top 20 Institutions:

Top 50 Institutions:

All:

Low
Avg. Turnover Rating

Name	Shares Held	Position Value	Percentage of Total Holdings since 8/19/09	% Owned of Shares Outstanding	Turnover Rating
The Banc Funds ...	1.3M	$2,457,382	+16%	6.2%	Low
Philadelphia ...	892.2K	$1,721,958	+11%	4.3%	High
Dimensional Fund ...	806.8K	$1,557,062	+10%	3.9%	Low
Diamond Hill ...	723.7K	$1,396,809	+9%	3.5%	Moderate
Vanguard Group, Inc.	612.0K	$1,181,116	+8%	3.0%	Low
North Star Asset ...	563.4K	$1,087,333	+7%	2.7%	Low
Barclays Global ...	488.1K	$942,037	+6%	2.4%	Low
Luther King ...	351.4K	$678,185	+4%	1.7%	Low
Bridgeway ...	272.2K	$525,346	+3%	1.3%	Moderate
Stanford (Michael R)	271.1K	$585,481	+3%	1.3%	Low

Top Mutual Fund Holders

Percentage of Outstanding Shares per Holdings Style

Index 8.0%

GARP 3.2%

Sector Specific 0.1%

Specialty 0.0%

Yield 0.0%

Momentum 0.0%

Growth 0.0%

Income Value 0.0%

Core Growth 0.0%

Core Value 0.0%

 

Low
Avg. Turnover Rating

Name	Shares Held	Position Value	Percentage of Total Holdings since 8/19/09	% Owned of Shares Outstanding	Investment Style
Diamond Hill ...	618.0K	$1,192,644	+8%	3.0%	GARP
Vanguard Total ...	286.8K	$398,588	+4%	1.4%	Index
Vanguard ...	283.4K	$393,863	+3%	1.4%	Index
Vanguard ...	226.0K	$314,207	+3%	1.1%	Index
DFA U.S. Micro ...	179.3K	$387,366	+2%	0.9%	Index
DFA U.S. Small ...	168.5K	$363,962	+2%	0.8%	Index
Vanguard ...	153.3K	$213,129	+2%	0.7%	Index
DFA U.S. Small ...	114.6K	$247,642	+1%	0.6%	Index
Bridgeway ...	63.3K	$87,998	+1%	0.3%	Index
iShares Russell ...	42.2K	$69,625	+1%	0.2%

CHARTS

6 month Daily

2 year Weekly

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