<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
First State Bancorporation
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(Name of Issuer)
Common Stock no. par value
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(Title of Class of Securities)
336453105
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(CUSIP Number)
Robert M. Smither, Jr.
14 South Swinton Avenue
Delray Beach, Florida 33444
(561) 243-2400
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
November 2, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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SCHEDULE 13D
CUSIP No. 336453105 Page 2 of 6 Pages
-----------
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Dharma Properties, Inc.
65-0744744
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
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7 SOLE VOTING POWER
NUMBER OF 246,300
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
246,300
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
246,300
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.52%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP No. 336 453105 Page 3 of 6 Pages
------------
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas E. Worrell, Jr.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
None
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
NUMBER OF 246,300
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
246,300
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
246,300
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.52%
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14 TYPE OF REPORTING PERSON*
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
13D
CUSIP No. 336453105 Page 4 of 6
Item 1. Security and Issuer
- ----------------------------
This statement relates to the Common Stock no par value ("Common Stock") of
First State Bancorporation (the "Issuer"). The name and address of the principal
executive offices of the Issuer as follows:
First State Bancorporation
7900 Jefferson NE
Albuquerque, New Mexico 87109
Item 2. Identity and Background
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This statement is being filed by Thomas E. Worrell, Jr. ("Mr. Worrell") and the
following entities which he directly or indirectly controls. Dharma Properties,
Inc. a Florida corporation ("DPI") which manages real estate is the record owner
of the shares. DPI is wholly owned by The Ares Trust, a grantor trust which is
beneficially owned by Mr. Worrell. The business address of all parties is
14 South Swinton Avenue, Delray Beach, Fl. 33444.
The executive officers and directors of DPI and their principal occupations are
set forth below.
<TABLE>
<CAPTION>
Name Title Principal Occupation
- ---- ----- --------------------
<S> <C> <C>
Thomas E. Worrell, Jr. Director/Chairman Director and CEO of numerous
businesses including several
real estate companies. He is the
beneficial owner of all shares
of reporting person.
Simon Harvey President Chief Operating Officer of
Dharma Properties, Inc.
Robert M. Smither, Jr. Director/Vice President CFO of numerous businesses
Secretary/Treasurer including several real estate
companies.
</TABLE>
All of such persons are citizens of the United States, except Simon Harvey, who
is a citizen of Great Britain. The address of all such persons is c/o DPI at the
address set forth above. During the last five years none of such persons has
been convicted in a criminal proceeding or has been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction as a
result of which he was or is subject to a judgment, decree or final order
enjoining future violations or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
- ----------------------------------------------------------
The source of funds used by DPI to purchase Common Stock was working capital.
<PAGE>
CUSPID No. 336453105 13D Page 5 of 6
Item 4. Purpose of Transaction.
- --------------------------------
The Reporting Persons have acquired the Shares for investment purposes and as
set forth below:
(a) The Reporting Persons may acquire additional Shares or dispose of some or
all of its Shares.
(b) None.
(c) None.
(d) The Reporting Persons have requested that the Issuer consider adding
Robert M. Smither, Jr. to its board of directors.
(e) None.
(f) None.
(g) None.
(h) None.
(i) None.
(j) None.
Item 5. Interest in Securities of the Issuer.
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(a) The aggregate number of Shares of the Issuer owned by the Reporting Persons
on November 2, 1999 was 246,300 and the percentage of the outstanding
Shares of the Issuer owned by the Reporting Persons as of such date (based
upon information provided by the Issuer, there are 3,275,444 Shares
outstanding as of this date) was 7.52%.
(b) The Reporting Persons have sole power to vote or direct the vote and sole
power to dispose or direct the disposition of all 246,300 Shares.
(c) The only transactions of the Reporting Persons during the past 60 days were
the following acquisitions in the open market.
Date Shares Purchased Price Per Share
---- ---------------- ---------------
10/29/99 8,000 22.00
11/1/99 7,000 22.79
11/2/99 7,000 22.77
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13D
CUSIP No 336453105 Page 6 of 6
Item 6. Contacts Arrangements, Understandings or Relationships to Securities of
- --------------------------------------------------------------------------------
Issuer
- ------
None.
Item 7. Material to be Filed as Exhibits
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None.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dharma Properties, Inc.
/s/ Robert M. Smither, Jr.
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Robert M. Smither, Jr.
Vice President / Secretary / Treasurer
Thomas E. Worrell, Jr.
/s/ Thomas E. Worrell, Jr.
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Dated: 11/3/99
