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1st Century Bancshares, Inc. Reports Financial Results For The Quarter And Year Ended December 31, 2012

SUMMARY FINANCIAL INFORMATION

The following tables present relevant financial data from the Company's recent performance (dollars in thousands, except per share data):
  December 31,
Balance Sheet Results: 2012 2011
Total Assets  $499,173 $405,274
Total Loans $266,671 $233,005
Allowance for Loan Losses ("ALL") $6,015 $5,284
Non-Performing Assets $1,944 $7,606
Investment Securities-AFS, at estimated fair value $181,225 $129,906
Deposits:    
Non-Interest Bearing Demand Deposits $196,026 $122,843
Interest Bearing Demand Deposits 23,233 20,739
Money Market Deposits and Savings 152,094 142,061
Certificates of Deposit 45,328 46,811
Total Deposits $416,681 $332,454
Total Stockholders' Equity $49,173 $45,051
Gross Loans to Deposits 63.99% 70.08%
Ending Book Value per Share $5.38 $4.97
     
  Quarters Ended December 31,
Quarterly Operating Results (unaudited): 2012 2011
Net Interest Income $3,965 $3,036
Provision for Loan Losses $ --  $--
Non-Interest Income $726 $316
Non-Interest Expense $3,728 $2,849
Income Tax Provision $51 $71
Net Income $912 $432
Basic Earnings per Share $0.11 $0.05
Diluted Earnings per Share $0.10 $0.05
Quarterly Net Interest Margin* 3.24% 3.07%
     
Reconciliation of QTD Net Income to Pre-Tax, Pre-Provision Earnings:  
Net Income  $912 $432
Provision for Loan Losses  --  --
Income Tax Provision 51 71
Pre-Tax, Pre-Provision Earnings $963 $503
     
  Years Ended December 31,
YTD Operating Results: 2012 2011
Net Interest Income $14,073 $11,281
Provision for Loan Losses  $--  $275
Non-Interest Income $1,986 $934
Non-Interest Expense $13,006 $10,844
Income Tax Provision $111 $71
Net Income $2,942 $1,025
Basic Earnings per Share $0.35 $0.12
Diluted Earnings per Share $0.33 $0.11
YTD Net Interest Margin 3.12% 3.21%
     
Reconciliation of YTD Net Income to Pre-Tax, Pre-Provision Earnings:  
Net Income  $2,942 $1,025
Provision for Loan Losses  --  275
Income Tax Provision 111 71
Pre-Tax, Pre-Provision Earnings $3,053 $1,371
     
*Percentages are reported on an annualized basis.    
CONTACT: 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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