First State Bancorp (fka FSNMQ)

[Entangled Proton]

First State Bancorporation's Bank Subsidiary Closed by New Mexico Financial Institutions Division

ALBUQUERQUE, N.M., Jan 28, 2011 (BUSINESS WIRE) -- First State Bancorporation (Pink Sheets: FSNM) announced today that its subsidiary bank, First Community Bank, was closed by the New Mexico Financial Institutions Division on January 28, 2011, and the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver. First State Bancorporation (the "Company") is no longer the parent company of First Community Bank (the "Bank").
In a virtually simultaneous transaction, U.S. Bank National Association, assumed the operations and all of the deposits, and purchased essentially all of the assets of the Bank in a loss-share transaction facilitated by the FDIC and will continue to operate the Bank, according to an FDIC news release. Customers of the bank can expect all banking services and activities such as check clearing, ATM access, online banking access and others to continue uninterrupted. Customers who have questions about the foregoing matters, or who would like more information about the closure of the Bank, can visit the FDIC's web site located at http://www.fdic.gov/bank/individual/failed/firstcomm_nm.html, or call the FDIC toll-free at 1-800-450-5417.

http://www.otcmarkets.com/stock/FSNM/news