FORM 5
ý Check box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
ý Form 3 Holdings Reported
o Form 4 Transactions Reported		   UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF
CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940		  
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1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer
(Check all applicable)
    Blixseth   Timothy   L.       First Community Bancorp (FCBP)                          Director                  10% Owner
 
           
    (Last)   (First)   (Middle)   3.   I.R.S Identification Number of Reporting Person, if an entity (voluntary)   4.   Statement for Month/Year                    Officer
              (give title below)		       X     Other
              (specify below)
    3 Mozart               December 31, 2002       former director
 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Reporting
(check applicable line)
    X     Form Filed by One Reporting Person
             Form Filed by More than
    Rancho Mirage   California   92270                                   One Reporting Person
    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.   Title of Security
(Instr. 3)		   2.   Transaction Date
(Month/ Day/ Year)		   2A.   Deemed Execution Date, if any
(Month/ Day/ Year)		   3.   Transaction Code
(Instr. 8)		   4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		   5.   Amount of Securities Beneficially Owned at the end of Issuer's Fiscal Year   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		   7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
                               
      (Instr. 3 and 4)                
                                        Amount   (A) or (D)   Price                        
    Common Stock       01-23-02 (1)                                           0                
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         

*If the form is filed by more than one reporting person, see Instruction 4(b)(v).

FORM 5 (Continued)   Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1.   Title of Derivative Security
(Instr. 3)		   2.   Conversion or Exercise Price of Derivative Security   3.   Transaction Date
(Month/Day/Year)		   3A.   Deemed Execution Date, if any
(Month/Day/Year)		   4.   Transaction Code
(Instr. 8)		   5.   Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		   6.   Date Exercisable and Expiration Date (Month/Day/Year)
                                           
     
                                                (A)   (D)       Date Exercisable   Expiration Date
    Options (Right to Buy)       $19.25       02-05-02               A           2,500           2-5-02   02-06-03 (1)
7.   Title and Amount of Underlying Securities
(Instr. 3 and 4)		   8.   Price of Derivative Security
(Instr. 5)		   9.   Number of Derivative Securities Beneficially Owned at End of Year
(Instr. 4)		   10.   Ownership of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		   11.   Nature of Indirect Beneficial Ownership
(Instr. 4)
   
                               
    Title   Amount or Number of Shares                                
    Common Stock   2,500               2,500       D        

Explanation of Responses:

(1)
As a result of Mr. Blixseth's resignation from the Board of Directors of the Issuer on November 8, 2002, his options expired on February 6, 2003.

/s/ Timothy L. Blixseth   02-11-03
**Signature of Reporting Person		  
Date

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

http://www.sec.gov/divisions/corpfin/forms/form5.htm
Last update: 09/03/2002