First Community Bank
First State Bancorporation ("First State") (NASDAQ: FSNM) is New Mexico's largest locally managed bank holding company. Through its wholly owned subsidiary First State Bank N.M., First State's strategy is to provide a business culture that offers individualized customer service. First State's flexible approach, which combines direct access to decision makers, the latest in technology, a wide menu of product offerings, and increasingly convenient branch locations, has allowed First State to profitably capture market share made available because of customer dissatisfaction caused by consolidation in the banking industry.
First State Bank was founded in Taos, New Mexico in 1922 and has continually served the Taos market since then. First State Bancorporation was founded in 1988 to acquire First State Bank. National Bank of Albuquerque was merged into First State Bank in 1991. First State made its initial public offering in November of 1993. In December of 1993, First State entered the Santa Fe market with the acquisition of First State Bank of Santa Fe. In October 2002, First State acquired First Community Industrial Bank (FCIB) with operations in Colorado and Utah. FCIB was merged into First State Bank and currently operates in Colorado and Utah as First Community Bank. Since the FCIB acquisition, First State has concentrated on internal growth and de novo branch openings and now has 24 New Mexico branches in Albuquerque, Belen, Bernalillo, Los Lunas, Moriarty, Placitas, Pojoaque, Questa, Rio Rancho, Santa Fe, and Taos New Mexico; 5 Colorado branches in Denver, Littleton, Colorado Springs, Longmont, and Fort Collins; and 1 Utah branch in Salt Lake City.
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