Jed Fanning Named Chief Credit Officer First Community Bank

First State Bancorporation (NASDAQ: FSNM), holding company for First Community Bank, with branches in New Mexico, Colorado and Arizona, announces Jed Fanning will move from his role as Regional President of Southern New Mexico and Arizona into the Chief Credit Officer role effective immediately. "In this time of economic upheaval and change, we need to have strong leadership around our lending and credit function,” stated Michael R. Stanford, Chairman, and CEO. "Jed’s experience and the guidance he has provided to this bank over the past few years has shown us he is the right person to provide the oversight and discipline needed in this area to guide us through the current challenging environment,” continued Stanford.

Mr. Fanning started with First Community Bank in 2005 as a Regional President and currently serves on the bank’s board of directors, executive, and credit committees. He started his banking career in 1985 at Texas Commerce Bank in El Paso with responsibilities of corporate lending and correspondent banking. He then joined Wells Fargo New Mexico in Las Cruces. His responsibilities included commercial lending and retail banking. In 1996 he was named Community Bank President for Las Cruces. In 1998 his role was expanded to Regional Manager for several markets in western New Mexico. In 1999 he moved to Albuquerque and was named Regional President for Greater New Mexico.

Mr. Fanning has always been an active volunteer in various community and statewide organizations. He is currently chairman of the New Mexico Governor’s Business Executives for Education committee, and he serves on the boards of ACCION New Mexico/Arizona/Colorado, the Greater Albuquerque Chamber of Commerce, and New Mexico First.

With more than 80 years of banking experience, First State Bancorporation (NASDAQ: FSNM) is the only publicly traded New Mexico-based commercial bank holding company. Through its wholly owned subsidiary, First Community Bank, the company has used a concentrated strategy of internal growth, advanced branching and selected acquisitions to currently operate 60 branches throughout New Mexico, Colorado, and Arizona. First Community Bank’s flexible approach, localized decision making and individualized customer service has allowed it to continue to profitably capture market share with total assets currently more than $3.4 billion. For more information, visit the Web site at www.fcbnm.com.