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): 07/26/2010

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 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On July 26, 2010, First State Bancorporation (the "Company") received a notice from the Nasdaq Stock Market ("Nasdaq") that its Hearings Panel is denying the Company's request for continued listing on Nasdaq. Nasdaq will suspend trading of the Company's shares effective at the open of business on Wednesday, July 28, 2010. As previously reported on Form 8-K, filed on June 17, 2010, the Company had requested a hearing before a Nasdaq Hearings Panel as set forth in the List Rule 5800 Series, where a plan outlining the Company's plans for regaining compliance would be presented. The hearing occurred on July 22, 2010 and was precipitated by receipt of a notice from the Nasdaq on June 15, 2010, indicating that the Company had not regained compliance with the minimum bid price requirement for continued listing set forth in Listing Rule 5450 (a)(1), and that its securities were subject to delisting from the Nasdaq Global Select Market The Company had also previously reported on Form 8-K, filed December 17, 2009, that it had been notified by Nasdaq on December 14, 2009 that the bid price of its common stock had closed at less than $1.00 per share over the previous 30 consecutive business days, at which time Nasdaq provided 180 calendar days, or until June 14, 2010 to regain compliance.

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: July 26, 2010	By:	/s/ Christopher C. Spencer
		Christopher C. Spencer
		Senior Vice President and Chief Financial Officer

FIRST STATE BANCORPORATION 8-K