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): 0607/1507/2010

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 38.01. ~~Notice~~Other ~~of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing~~Events

~~First~~As ~~State~~previously ~~Bancorporation~~reported ~~(the~~on ~~"Company")~~Form ~~received~~8-K, afiled ~~notice~~on ~~from~~June ~~the~~10, ~~Nasdaq~~2010, ~~Stock~~First ~~Market~~State Bancorporation (the "~~Nasdaq~~Company") commenced cash offers on June 159, 2010, ~~indicating~~to ~~that~~purchase, ~~the~~and ~~Company~~consent ~~has~~solicitations ~~not~~relating ~~regained~~to, ~~compliance~~all ~~with~~of the ~~minimum~~outstanding ~~bid~~trust ~~price~~preferred ~~requirement~~securities ~~for~~("TruPS") ~~continued~~issued ~~listing~~by ~~set~~First ~~forth~~State inNM ~~Listing~~Statutory ~~Rule~~Trust ~~5450 (a)(1)~~III, ~~and~~First ~~that~~State ~~its~~NM ~~securities~~Statutory ~~are,~~Trust ~~therefore~~IV, ~~subject~~First toState ~~delisting~~NM ~~from~~Statutory ~~The~~Trust ~~Nasdaq~~V, ~~Global~~First ~~Select~~State ~~Market. The~~NM ~~Company~~Statutory ~~previously~~Trust ~~reported~~VI, onFirst ~~Form~~State ~~8-K,~~NM ~~filed~~Statutory ~~December~~Trust 17VII, ~~2009,~~First ~~that~~State itNM ~~had~~Statutory ~~been~~Trust ~~notified~~VIII byand ~~Nasdaq~~Front onRange ~~December~~Capital ~~14,~~Trust ~~2009,~~II ~~that~~ (the ~~bid~~"Offers ~~price~~to ofPurchase"). These ~~its~~Offers ~~common~~to ~~stock~~Purchase ~~had~~were ~~closed~~part atof ~~less~~the ~~than~~Company's ~~$1.00~~plan ~~per~~to ~~share~~recapitalize ~~over~~its ~~the~~balance ~~previous~~sheet 30in ~~consecutive~~order ~~business~~to ~~days,~~be atable ~~which~~to ~~time~~continue ~~Nasdaq~~to ~~provided~~operate ~~180~~through ~~calendar~~2010 ~~days,~~and orbeyond ~~until~~and ~~June~~to ~~14,~~comply ~~2010~~with toa ~~regain~~written ~~compliance. The~~agreement ~~Company~~entered ~~has~~into ~~requested~~with athe ~~hearing~~Company's ~~before~~principal aregulators. The ~~Nasdaq~~Company ~~Listing~~offered ~~Qualifications~~to ~~Panel~~purchase ~~(the~~TruPS ~~"Panel"),~~having asan ~~set~~aggregate ~~forth~~liquidation inamount ~~the~~of ~~List~~up ~~Rule~~to ~~5800~~$95.2 ~~Series,~~million ~~where~~at a ~~plan~~purchase ~~outlining~~price ~~how~~of ~~the~~$150 ~~Company~~cash ~~plans~~per to$1,000 ~~regain~~in ~~compliance~~liquidation ~~will~~amount beof ~~presented~~the TruPS (the "Purchase Price"). The ~~Panel~~offer ~~can~~for ~~allow~~each upseries toof ~~180~~TruPS ~~calendar~~expired ~~days~~at or5:00 ~~until~~p.m., ~~December~~Eastern 12Time on July 7, 2010,. The ~~for~~Company ~~the~~has ~~Company~~determined tothat ~~regain~~insufficient ~~compliance. There~~securities ~~can~~were betendered noand ~~assurance~~all ~~the~~Offers ~~Panel~~to Purchase have been canceled and will ~~grant~~not ~~the~~be extended. The Company's ~~request~~and ~~for~~its ~~continued~~wholly-owned ~~listing~~subsidiary, orFirst ~~that~~Community ~~the~~Bank, ~~Company's~~will ~~plan~~continue to ~~regain~~pursue ~~compliance~~opportunities ~~will~~to bestrengthen ~~successful~~capital.

SIGNATURES

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 17, 2010	By:	/s/ Christopher C. Spencer
Date: July 12, 2010	By:	/s/ Christopher C. Spencer
		Christopher C. Spencer
		Senior Vice President and Chief Financial Officer

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