First State Bancorporation announced that the appointments by the board of directors of Garrey E. Carruthers as Chairman of the Board and H. Patrick Dee as President and Chief Executive Officer have been confirmed by the Federal Reserve Bank of Kansas City. Mr. Dee will also be assuming the position of Chairman of the Board and Chief Executive Officer of First Community Bank, the Company's subsidiary. In addition to serving as Chief Executive Officer of the bank, Mr. Dee will continue to serve as President.

First State Bancorp. expected to Report Q1 2010 Results on April 26, 2010. This event was calculated by Capital IQ (Created on February 2, 2010).

First State Bancorp. reported unaudited earnings results for the fourth quarter and year ended December 31, 2009. For the quarter, the company's net loss was $28,354,000 or $1.37 per diluted share compare to $37,471,000 or $1.85 per diluted share a year ago. Interest income was $29,016,000 compared with $46,437,000 a year ago. Net interest income was $18,353,000 compared with $30,267,000 a year ago. Loss before income taxes was $49,767,000 compared with $14,746,000 a year ago. Negative return on average assets was 3.95% compared with 4.31% a year ago. Negative return on average equity was 150.07% compared with 78.19% a year ago. The net loss for the quarter and year ended December 31, 2009 resulted primarily from the significant provision for loan losses due to the level of non-performing assets and charge-offs and write-downs of other real estate owned. For the year, the companys net loss was $110,493,000 or $5.36 per diluted share compared to $153,631,000 or $7.60 per diluted share a year ago. Interest income was $140,468,000 compared with $198,415,000 a year ago. Net interest income was $87,943,000 compared with $124,580,000 a year ago. Loss before income taxes was $131,360,000 compared with $159,254,000 a year ago. Negative return on average assets was 3.47% compared with 4.44% a year ago. Negative return on average equity was 91.35% compared with 60.28% a year ago. As on December 31, 2009, the company's book value per share was $2.27.

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