First State Bancorporation Announces Election of Garrey E. Carruthers to Board

ALBUQUERQUE, N.M.--(Business Wire)--
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, N.M. since 2006. Dr. Carruthers also served on
the First Community Bank Advisory Board for Albuquerque, N.M. 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, N.M.

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.

First State Bancorporation, Albuquerque
H. Patrick Dee, 505-241-7102
C. Christopher Spencer, 505-241-7154

Copyright Business Wire 2008