March 17, 2009
Amit Pande
Accounting Branch Chief
Division of Corporation Finance
United States Securities and Exchange Commission
Washington, D.C. 20549
Re: |
| 1st Century Bancshares, Inc. |
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| Form 10-K for the Fiscal Year Ended December 31, 2007 |
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| Forms 10-Q for the Quarterly Periods Ended March 31, 2008, June 30, 2008, and September 30, 2008 |
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| File No. 000-53050 |
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| We have received your comments dated February 17, 2009 and below are our responses to your comments. |
Form 8-K filed February 3, 2009
Exhibit 99.1 — Press Release dated February 3, 2009
We stated in the Form 8-K referenced above that the total non-performing assets are estimated to be approximately $5.9 million at December 31, 2008. We have disclosed the nature of these non-performing assets and described the reasons for the significant increase in non-performing assets in the fourth quarter of 2008 in the Form 10-K for the year ended December 31, 2008. The disclosures are in the Form 10-K, Part II — Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operation — Financial Condition — Nonperforming Assets” and Part II — Item 8 “Financial Statements and Supplementary Data” — Note 4 “Loans, Non-performing Assets, and Allowance for Loan Losses”. The Form 10-K was filed on March 10, 2009.
Sincerely,
/s/ Alan I. Rothenberg |
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Alan I. Rothenberg |
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Chairman of the Board and Chief Executive Officer |
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