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EX-99.1 - PRESS RELEASE DATED JANUARY 28, 2011 - FIRST STATE BANCORPORATION | rrd299152_34033.htm |
New Mexico
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85-0366665
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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[ ] 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))
In a virtually simultaneous transaction, U.S. Bank, National Association, assumed the operations and all of the deposits, and purchased essentially all of the assets of the Bank in a transaction facilitated by the FDIC and will continue to operate the Bank, according to an FDIC news release. Customers of the bank can expect all banking services and activities such as check clearing, ATM access, online banking access and others to continue uninterrupted. Customers who have questions about the foregoing matters, or who would like more information about the closure of the Bank, can visit the FDIC's web site located at http://www.fdic.gov/bank/individual/failed/firstcomm_nm.html, or call the FDIC toll-free at 1-800-405-8124.
As a result of the Bank's receivership, it is highly likely that the Company will be required to cease operations. The Bank was the Company's largest asset and therefore we believe it is unlikely that any distribution of assets will be available to our shareholders or subordinated debt holders.
First State Bancorporation
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Date: February 01, 2011
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By:
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/s/ Christopher C. Spencer
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Christopher C. Spencer
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Senior Vice President and Chief Financial Officer
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Exhibit No.
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Description
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EX-99.1
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Press Release dated January 28, 2011
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