SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549







                                  FORM 8-K



                          CURRENT REPORT PURSUANT
                       TO SECTION 13 OR 15(D) OF THE
                      SECURITIES EXCHANGE ACT OF 1934



     Date of report (Date of Earliest Event Reported): October 1, 2002


                         FIRST STATE BANCORPORATION
             (Exact Name of Registrant as Specified in Charter)



           New Mexico               001-12487             85-0366665
 (State or Other Jurisdiction      (Commission          (IRS Employer
      of Incorporation)             File Number)      Identification No.)

            7900 Jefferson, N.E., Albuquerque, New Mexico 87109
            (Address of Principal Executive Offices) (Zip Code)


                               (505) 241-7500
            (Registrant's telephone number, including area code)


                                    N/A
       (Former Name or Former Address, if Changed Since Last Report)


        Item 2.  Acquisition or Disposition of Assets.

                  On October 2, 2002, First State Bancorporation, a New
         Mexico corporation ("First State"), announced that it had
         completed its acquisition of First Community Industrial Bank, a
         Colorado industrial bank, from Blazer Financial Corporation, a
         Louisiana corporation and an indirect wholly-owned subsidiary of
         Washington Mutual, Inc., pursuant to the Agreement and Plan of
         Merger, dated as of May 22, 2002 (the "Merger Agreement"). First
         State's press release announcing the consummation of the First
         Community acquisition is attached hereto as Exhibit 99.1 and is
         incorporated herein by reference.

                  The acquisition, which was completed on October 1, 2002,
         was accomplished through the merger of First Community with and
         into First State Bank N.M., a wholly-owned subsidiary of First
         State, with First State Bank N.M. surviving the merger and
         continuing its existence as a New Mexico state bank. The aggregate
         purchase price for the acquisition was $67,154, 061 in cash. The
         purchase price was determined as a result of arm-length
         negotiations. The description of the merger contained herein in
         qualified in its entirety by reference to the Merger Agreement.

        Item 7.  Financial Statements, Pro Forma Financial Information
                  and Exhibits.

        Item (a) Financial Statements of Business Acquired. *

        Financial Statements of First Community Industrial Bank
        as of December 31, 2001 and 2000 and for the years ended
        December 31, 2001, 2000 and 1999 were previously reported
        in our Registration Statement on Form S-3/A filed on
        August 8, 2002.

        Item (b) Pro Forma Financial Information. *

        Item (c) Exhibits.

        Exhibit 2.1        Agreement and Plan of Merger, dated as of May
                           22, 2002, by and among First State
                           Bancorporation, First State Bank N.M. (formerly
                           known as First State Bank of Taos), First
                           Community Industrial Bank, Blazer Financial
                           Corporation, and Washington Mutual Finance
                           Corporation (incorporated herein by reference to
                           Exhibit 2.1 on our Form 8-K filed on May 31,
                           2002).

        Exhibit 99.1       News release announcing consummation of the
                           merger issued by First State Bancorporation,
                           dated October 2, 2002 (incorporated herein by
                           reference).


        *         First State will file the required financial information
                  with respect to the First Community acquisition under
                  cover an amendment to this Current Report on Form 8-K as
                  soon as practicable, but in no event later than 60 days
                  after the date on which this Current Report on Form 8-K
                  was required to be filed.


                                 SIGNATURE

                  Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

                                              FIRST STATE BANCORPORATION


         Date:  October 11, 2002              By:/s/Brian C. Reinhardt
                                                 _______________________
                                              Brian C. Reinhardt
                                              Executive Vice President
                                              and Chief Financial Officer


                                           EXHIBIT INDEX

Exhibit           Description

2.1               Agreement and Plan of Merger, dated as of May 22, 2002,
                  by and among First State Bancorporation, First State Bank
                  N.M. (formerly known as First State Bank of Taos), First
                  Community Industrial Bank, Blazer Financial Corporation,
                  and Washington Mutual Finance Corporation (incorporated
                  herein by reference to Exhibit 2.1 on our Form 8-K filed
                  on May 31, 2002).

99.1              News release announcing consummation of the merger issued
                  by First State Bancorporation, dated October 2, 2002
                  (incorporated herein by reference).

Exhibit 99.1
[LOGO]

                                NEWS RELEASE

H. Patrick Dee                                     Brian C. Reinhardt
Chief Operating Officer                            Chief Financial Officer
(505) 241-7102                                     (505) 241-7598

         First State Bancorporation Completes Acquisition of First
Community Industrial Bank A Subsidiary of Washington Mutual

         Albuquerque NM--October 2, 2002--First State Bancorporation
(NASDAQ:FSNM) announced today that it has completed its acquisition of
First Community Industrial Bank, a wholly owned indirect subsidiary of
Washington Mutual, Inc. (NYSE:WM). First Community is an industrial bank
headquartered in Denver, Colorado with assets of approximately $365.0
million. First Community operates six branches in the Colorado Front Range
market area, which includes the Denver MSA, and three branches in the Salt
Lake City and Ogden area.

         First State Bancorporation is the $1.0 billion asset commercial
bank holding company for First State Bank, which operates 21 branches in
Albuquerque and throughout Northern New Mexico.

         First State financed the acquisition through its offering of 2.4
million shares of common stock, which closed and funded in August 2002, and
through the proceeds of a $25.0 million trust preferred offering, which
closed in June 2002.

         The completion of this acquisition increases the number of
branches in the First State system to 30 giving it a presence in the three
large metropolitan markets of Albuquerque, Denver, and Salt Lake City. Pro
forma for the acquisition, First State Bancorporation will have total
assets of approximately $1.3 billion.

         The newly acquired locations in Colorado and Salt Lake City will
continue to operate under the First Community Bank name while being
branches of First State Bank N.M. a federally insured institution.

         "This acquisition expands our growth opportunities by making us a
regional player with four high growth metropolitan markets in Colorado and
Utah that should allow us to continue the growth we are experiencing in New
Mexico well into the future," stated Michael R. Stanford, President and
Chief Executive Officer. "Our model is to provide service to customers in
markets that have seen smaller more nimble competitors purchased by large
out of region institutions."

         "First Community has a loyal customer base to whom we will be able
to offer significantly expanded loan and deposit products that will act as
the foundation for us to serve the middle market business customers in
these new markets as we have in New Mexico," continues Stanford.

         "This transaction fits nicely into Washington Mutual's ongoing
strategy of redeploying capital resources to support growth in its core
businesses," said Craig Chapman, President of Washington Mutual's Specialty
Finance Division. "We are pleased to have found a new home for the
customers and employees of the Industrial Bank."

         First State Bancorporation is the only publicly traded New Mexico
based commercial bank holding company. On Tuesday, October 1, 2002, First
State's stock closed at $24.55 per share.

         This release includes forward-looking statements, within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The discussion regarding future growth of
the franchise includes forward-looking statements. Other forward-looking
statements can be identified by the use of forward-looking words such as
"believes," "expects," "may," "will," "should," "seeks," "approximately,"
"intends," "plans," "estimates," or "anticipates" or the negative of those
words or other comparable terminology. Forward-looking statements involve
inherent risks and uncertainties. A number of important factors could cause
actual results to differ materially from those in the forward-looking
statement. Some factors include fluctuations in interest rates, inflation,
government regulations, loss of key personnel, faster or slower than
anticipated growth, economic conditions, competition's responses to the
Company's marketing strategy, and competition in the geographic and
business areas in which we conduct our operations.

         First State's news releases are available through the Investor
Relations section of First State's website at www.fsbnm.com.

                                   # # #
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{"company-data": {"conformed-name": "FIRST STATE BANCORPORATION", "cik": "0000897861", "assigned-sic": "6022", "irs-number": "850366665", "state-of-incorporation": "NM", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12487", "film-number": "02787506"}, "business-address": {"street1": "7900 JEFFERSON NE", "city": "ALBUQUERQUE", "state": "NM", "zip": "87109", "phone": "5052417500"}, "mail-address": {"street1": "7900 JEFFERSON NE", "city": "ALBUQUERQUE", "state": "NM", "zip": "87190"}}
SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549

                                  FORM 8-K

                          CURRENT REPORT PURSUANT
                       TO SECTION 13 OR 15(D) OF THE
                      SECURITIES EXCHANGE ACT OF 1934

     Date of report (Date of Earliest Event Reported): October 1, 2002

                         FIRST STATE BANCORPORATION
             (Exact Name of Registrant as Specified in Charter)

           New Mexico               001-12487             85-0366665
 (State or Other Jurisdiction      (Commission          (IRS Employer
      of Incorporation)             File Number)      Identification No.)

            7900 Jefferson, N.E., Albuquerque, New Mexico 87109
            (Address of Principal Executive Offices) (Zip Code)

                               (505) 241-7500
            (Registrant's telephone number, including area code)

                                    N/A
       (Former Name or Former Address, if Changed Since Last Report)

        Item 2.  Acquisition or Disposition of Assets.

                  On October 2, 2002, First State Bancorporation, a New
         Mexico corporation ("First State"), announced that it had
         completed its acquisition of First Community Industrial Bank, a
         Colorado industrial bank, from Blazer Financial Corporation, a
         Louisiana corporation and an indirect wholly-owned subsidiary of
         Washington Mutual, Inc., pursuant to the Agreement and Plan of
         Merger, dated as of May 22, 2002 (the "Merger Agreement"). First
         State's press release announcing the consummation of the First
         Community acquisition is attached hereto as Exhibit 99.1 and is
         incorporated herein by reference.

                  The acquisition, which was completed on October 1, 2002,
         was accomplished through the merger of First Community with and
         into First State Bank N.M., a wholly-owned subsidiary of First
         State, with First State Bank N.M. surviving the merger and
         continuing its existence as a New Mexico state bank. The aggregate
         purchase price for the acquisition was $67,154, 061 in cash. The
         purchase price was determined as a result of arm-length
         negotiations. The description of the merger contained herein in
         qualified in its entirety by reference to the Merger Agreement.

        Item 7.  Financial Statements, Pro Forma Financial Information
                  and Exhibits.

        Item (a) Financial Statements of Business Acquired. *

        Financial Statements of First Community Industrial Bank
        as of December 31, 2001 and 2000 and for the years ended
        December 31, 2001, 2000 and 1999 were previously reported
        in our Registration Statement on Form S-3/A filed on
        August 8, 2002.

        Item (b) Pro Forma Financial Information. *

        Item (c) Exhibits.

        Exhibit 2.1        Agreement and Plan of Merger, dated as of May
                           22, 2002, by and among First State
                           Bancorporation, First State Bank N.M. (formerly
                           known as First State Bank of Taos), First
                           Community Industrial Bank, Blazer Financial
                           Corporation, and Washington Mutual Finance
                           Corporation (incorporated herein by reference to
                           Exhibit 2.1 on our Form 8-K filed on May 31,
                           2002).

        Exhibit 99.1       News release announcing consummation of the
                           merger issued by First State Bancorporation,
                           dated October 2, 2002 (incorporated herein by
                           reference).

        *         First State will file the required financial information
                  with respect to the First Community acquisition under
                  cover an amendment to this Current Report on Form 8-K as
                  soon as practicable, but in no event later than 60 days
                  after the date on which this Current Report on Form 8-K
                  was required to be filed.

                                 SIGNATURE

                  Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

                                              FIRST STATE BANCORPORATION

         Date:  October 11, 2002              By:/s/Brian C. Reinhardt
                                                 _______________________
                                              Brian C. Reinhardt
                                              Executive Vice President
                                              and Chief Financial Officer

                                           EXHIBIT INDEX

Exhibit           Description

2.1               Agreement and Plan of Merger, dated as of May 22, 2002,
                  by and among First State Bancorporation, First State Bank
                  N.M. (formerly known as First State Bank of Taos), First
                  Community Industrial Bank, Blazer Financial Corporation,
                  and Washington Mutual Finance Corporation (incorporated
                  herein by reference to Exhibit 2.1 on our Form 8-K filed
                  on May 31, 2002).

99.1              News release announcing consummation of the merger issued
                  by First State Bancorporation, dated October 2, 2002
                  (incorporated herein by reference).

Exhibit 99.1
[LOGO]

                                NEWS RELEASE

H. Patrick Dee                                     Brian C. Reinhardt
Chief Operating Officer                            Chief Financial Officer
(505) 241-7102                                     (505) 241-7598

         First State Bancorporation Completes Acquisition of First
Community Industrial Bank A Subsidiary of Washington Mutual

         Albuquerque NM--October 2, 2002--First State Bancorporation
(NASDAQ:FSNM) announced today that it has completed its acquisition of
First Community Industrial Bank, a wholly owned indirect subsidiary of
Washington Mutual, Inc. (NYSE:WM). First Community is an industrial bank
headquartered in Denver, Colorado with assets of approximately $365.0
million. First Community operates six branches in the Colorado Front Range
market area, which includes the Denver MSA, and three branches in the Salt
Lake City and Ogden area.

         First State Bancorporation is the $1.0 billion asset commercial
bank holding company for First State Bank, which operates 21 branches in
Albuquerque and throughout Northern New Mexico.

         First State financed the acquisition through its offering of 2.4
million shares of common stock, which closed and funded in August 2002, and
through the proceeds of a $25.0 million trust preferred offering, which
closed in June 2002.

         The completion of this acquisition increases the number of
branches in the First State system to 30 giving it a presence in the three
large metropolitan markets of Albuquerque, Denver, and Salt Lake City. Pro
forma for the acquisition, First State Bancorporation will have total
assets of approximately $1.3 billion.

         The newly acquired locations in Colorado and Salt Lake City will
continue to operate under the First Community Bank name while being
branches of First State Bank N.M. a federally insured institution.

         "This acquisition expands our growth opportunities by making us a
regional player with four high growth metropolitan markets in Colorado and
Utah that should allow us to continue the growth we are experiencing in New
Mexico well into the future," stated Michael R. Stanford, President and
Chief Executive Officer. "Our model is to provide service to customers in
markets that have seen smaller more nimble competitors purchased by large
out of region institutions."

         "First Community has a loyal customer base to whom we will be able
to offer significantly expanded loan and deposit products that will act as
the foundation for us to serve the middle market business customers in
these new markets as we have in New Mexico," continues Stanford.

         "This transaction fits nicely into Washington Mutual's ongoing
strategy of redeploying capital resources to support growth in its core
businesses," said Craig Chapman, President of Washington Mutual's Specialty
Finance Division. "We are pleased to have found a new home for the
customers and employees of the Industrial Bank."

         First State Bancorporation is the only publicly traded New Mexico
based commercial bank holding company. On Tuesday, October 1, 2002, First
State's stock closed at $24.55 per share.

         This release includes forward-looking statements, within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The discussion regarding future growth of
the franchise includes forward-looking statements. Other forward-looking
statements can be identified by the use of forward-looking words such as
"believes," "expects," "may," "will," "should," "seeks," "approximately,"
"intends," "plans," "estimates," or "anticipates" or the negative of those
words or other comparable terminology. Forward-looking statements involve
inherent risks and uncertainties. A number of important factors could cause
actual results to differ materially from those in the forward-looking
statement. Some factors include fluctuations in interest rates, inflation,
government regulations, loss of key personnel, faster or slower than
anticipated growth, economic conditions, competition's responses to the
Company's marketing strategy, and competition in the geographic and
business areas in which we conduct our operations.

         First State's news releases are available through the Investor
Relations section of First State's website at www.fsbnm.com.

                                   # # #