1st Century Bancshares, Inc. Reports Financial Results for the Quarter Ended March 31, 2012 - Page 5

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Tuesday, May 8th 2012
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Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can find many (but not all) of these forward-looking statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. These statements are based upon our management's current expectations and speak only as of the date hereof. Forward-looking statements are subject to certain risks and uncertainties that could cause our actual results, performance or achievements to differ materially and adversely from those expressed, suggested or implied herein. Accordingly, investors should use caution in relying on forward-looking statements to anticipate future results or trends. These risks and uncertainties include, but are not limited to: (1) the impact of changes in interest rates, (2) a renewed decline in economic conditions, (3) further increased competition among financial institutions, (4) the Company's ability to continue to attract interest bearing deposits and quality loan customers, (5) further government regulation and the implementation and costs associated with the same, (6) management's ability to successfully manage the Company's operations, and (7) the other risks set forth in the Company's reports filed with the U.S. Securities and Exchange Commission. The Company does not undertake, and specifically disclaims, any obligation to revise or update any forward-looking statements for any reason.

(Tables follow)

SUMMARY FINANCIAL INFORMATION

The following tables present relevant financial data from the Company's recent performance (dollars in thousands, except per share data):


                                  March 31,     December 31,     March 31,
                                     2012           2011           2011
                                -------------   ------------   ------------
Balance Sheet Results:           (unaudited)                    (unaudited)
  Total Assets                  $     433,398   $    405,274   $    319,043
  Total Loans                   $     230,010   $    233,005   $    188,549
  Allowance for Loan Losses
   ("ALL")                      $       5,288   $      5,284   $      5,476
  Non-Performing Assets         $       7,285   $      7,606   $      7,833
  Deposits:
    Non-Interest Bearing Demand
     Deposits                   $     135,753   $    122,843   $     96,942
    Interest Bearing Demand
     Deposits                          20,790         20,739         33,949
    Money Market Deposits and
     Savings                          156,935        142,061         85,843
    Certificates of Deposit            46,715         46,811         53,949
                                -------------   ------------   ------------
      Total Deposits            $     360,193   $    332,454   $    270,683
  Total Stockholders' Equity    $      45,706   $     45,051   $     44,481
  Gross Loans to Deposits               63.83%         70.08%         69.66%
  Ending Book Value per Share   $        5.06   $       4.97   $       4.78

                                   Three Months Ended March
                                             31,
                                ----------------------------
  Quarterly Operating Results
   (unaudited):                      2012            2011
                                -------------    -----------
  Net Interest Income           $       3,299   $      2,711
  Provision for Loan Losses     $           -   $        200
  Non-Interest Income           $         347   $        204
  Non-Interest Expense          $       3,038   $      2,592
  Income Tax Provision          $          16   $          -
  Net Income                    $         592   $        123
  Basic Earnings per Share      $        0.07   $       0.01
  Diluted Earnings per Share    $        0.07   $       0.01
  Quarterly Net Interest
   Margin*                               3.20%          3.59%

Reconciliation of QTD Net Income to Pre-Tax,
 Pre-Provision Earnings:
  Net Income                    $         592   $        123
  Provision for Loan Losses                 -            200
  Income Tax Provision                     16              -
                                -------------   ------------
  Pre-Tax, Pre-Provision
   Earnings                     $         608   $        323
                                =============   ============

*Percentages are reported on an annualized basis.

Contact Information:

Alan I. Rothenberg
Chairman/Chief Executive Officer
Phone: (310) 270-9501

Jason P. DiNapoli
President/Chief Operating Officer
Phone: (310) 270-9505

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