Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 19, 2009, First State Bancorporation ("First State") issued a News Release announcing the departure of director Linda S. Childears. Ms. Childears resigned from the Board of Directors of First State effective May 14, 2009. A copy of the News Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.