First State Bancorporation

Christopher C. Spencer, Senior Vice President and Chief Financial Officer of the Company, joined the Company in February 2003. Mr. Spencer is also a Senior Vice President and Chief Financial Officer of First Community Bank and a member of First Community Bank's Board of Directors. Prior to joining the Company, Mr. Spencer was a senior manager with KPMG LLP in its Albuquerque office. Mr. Spencer joined KPMG LLP in 1982. Mr. Spencer has been actively involved in the Albuquerque community for many years serving on several non-profit boards.

H. Patrick Dee has been a Director of the Company since 1991 and presently serves as Executive Vice President, Chief Operating Officer, and Treasurer of the Company, and President and Chief Operating Officer of First Community Bank, a position he has held since May 2001. Mr. Dee serves on the Executive Committee. From December 1991 to May 2001, Mr. Dee was Executive Vice President of First Community Bank. Prior to joining the Company, Mr. Dee spent four years with New Mexico Banquest Corporation and, after its acquisition by Livingston & Co. Southwest, LP in 1988, with National Bank of Albuquerque. In 1989, Mr. Dee became Senior Vice President and Chief Financial Officer of Livingston & Co. Southwest, LP.

Marshall G. Martin, Executive Vice President and Corporate Counsel, and Secretary, joined the Company in September 2003. Prior to joining the Company he was a senior partner in Hinkle, Hensley, Shanor & Martin, LLP, and was the Company's principal corporate counsel. He served on the Company's Board of Directors from June 1997 until his employment as corporate counsel. Mr. Martin is involved in a variety of civic organizations and activities.

A.J. (Jim) Wells, a Director of the Company since August 2002, has recently retired as President and Chairman of two boards governing Telluride Mountain Village roads, utilities, common areas, conference center and gondola operations. He has also recently retired as a consultant to the Telluride Ski & Golf Resort. Mr. Wells is Chairman of the Audit Committee and a member of the Executive Committee. Mr. Wells previously served as a Town Councilman in Avon, Colorado, and President of Telluride Ski & Golf Company. Mr. Wells is an inactive certified public accountant and currently involved in real estate investments.

Daniel H. Lopez, Ph.D., a Director of the Company since July 2005, has served as President of New Mexico Institute of Mining and Technology since 1993. Prior to assuming the presidency of New Mexico Tech, Dr. Lopez was responsible for institutional development at New Mexico Tech and has held administrative and finance functions in state government. He also serves as President of the Council of New Mexico University Presidents, an association of New Mexico four-year college presidents. He is the Chairman of the Compensation Committee and is a member of the Audit Committee. He is the recipient of many awards for service and is active in business development and community affairs throughout the state. Dr. Lopez was elected to serve until 2008 at the 2006 Annual Meeting.

Garrey E. Carruthers, Ph.D. 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, New Mexico since 2005. Dr. Carruthers also served on the First Community Bank Advisory Board for Albuquerque, New Mexico 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 is a member of the Compensation Committee and Nominating Committee.

Kathleen Avila, who was appointed Director of the Company in March 2007, is the owner and managing partner of Avila Retail. Avila Retail sells American arts and crafts, including Native American jewelry, at 24 retail locations including airports in Albuquerque, Denver and Phoenix. Her business has received numerous awards for retail accomplishments. She has served on the First Community Bank Albuquerque Advisory Board since September 2000. Ms. Avila is the Chairman of the Nominating Committee, a member of the Executive Committee and a member of the Audit Committee. She has served as a director of the Denver branch of the Federal Reserve and was Chairwoman of the Greater Albuquerque Chamber of Commerce. She is active in civic affairs and has been an officer and director of numerous non-profit community organizations.

Leonard J. DeLayo, Jr., a Director of the Company since November 1993, was elected Chairman of the Board in July of 2000. In addition to his other duties, Mr. DeLayo is Chairman of the Executive Committee. Mr. DeLayo has previously served as a member of the Company s Audit and Compensation Committees. Mr. DeLayo served as a director of First Community Bank from 1988 to January 1992. Mr. DeLayo has been engaged in a general corporate and commercial law practice in New Mexico since 1974. He is the President and sole shareholder of Leonard J. DeLayo, Jr., P.C., which currently provides legal services to the Company and First Community Bank as retained counsel. Mr. DeLayo was elected to the Albuquerque Public Schools Board of Education in 1987, has served five terms as President, and retired from that Board in February 2007. Mr. DeLayo is on the Board of Directors for the New Mexico Cancer Center Foundation. See Certain Business Relationships Legal Services.

Michael J. Blake is founder and current President & CEO of Olympus Financial Advisors (OFA). OFA was formed in order to give independent advice in the areas of investment management, life and disability insurance, and financial planning. Mr. Blake entered the Financial Services Industry with AXA/Equitable in 1990. During his time with AXA/Equitable, he won numerous awards and recognitions. In 2002, Mr. Blake started Olympus Financial Advisors. Each year since 2002, Mr. Blake has received the prestigious Summit of Inner Circle Award from UNIFI companies for exceptional sales and qualified for both their National and International Conferences. In December 2007, he was named a member of UNIFI's Field Advisory Council. Goldline Research has recognized Mr. Blake as one of the "Most Dependable Wealth Managers of the Southwest" for the second consecutive year. This list is published in the December 24, 2007 issue of Forbes. Mr. Blake was appointed to First State's Board of Directors effective January 25, 2008. He is a member of the Company's Compensation Committee and the Nominating Committee and recently completed the UCLA Director Education and Certification Program. Mr. Blake has been involved as a contributor and member of numerous boards of directors and charity organizations.

Nedra Matteucci, a Director of the Company since October 2003, is President of Matteucci Galleries, Inc., which does business as Nedra Matteucci Galleries and Morningstar Gallery in Santa Fe, New Mexico. Nedra Matteucci Galleries is one of the largest galleries in the United States dealing in 19th and 20th Century American Art. Morningstar Gallery specializes in museum quality Native American art. Ms. Matteucci is owner of Nedra Matteucci Fine Art located in Santa Fe, New Mexico specializing in contemporary Southwestern art. She serves on the Company's Compensation Committee and the Nominating Committee. She has served on First State Bank's Santa Fe Advisory Board since 1998 and was a member of the Board of Directors of the Bank of America, New Mexico from 1991 to 1996. She is active in civic affairs on a local and national level and has been an officer and director of numerous non-profit community organizations. In accordance with applicable law and the Company's Restated Articles, she was elected by the Board of Directors to fill a vacancy for an unexpired term.

Nedra Matteucci, a Director of the Company since October 2003, is President of Matteucci Galleries, Inc., which does business as Nedra Matteucci Galleries and Morningstar Gallery in Santa Fe, New Mexico. Nedra Matteucci Galleries is one of the largest galleries in the United States dealing in 19 th and 20 th Century American art. Morningstar Gallery specializes in museum quality Native American art. Ms. Matteucci is owner of Nedra Matteucci Fine Art located in Santa Fe, New Mexico specializing in contemporary Southwestern art. She serves on the Company s Compensation Committee and Nominating Committee. She has served on First Community Bank s Santa Fe Advisory Board since 1998 and was a member of the Board of Directors of the Bank of America, New Mexico from 1991 to 1996. She is active in civic affairs on a local and national level and has been an officer and director of numerous non-profit community organizations.