8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

December 15, 2009

Date of Report (date of earliest event reported)

1^ST CENTURY BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

Commission File Number: 333-148302

Delaware	26-1169687
(State or other jurisdiction of incorporation)	(I.R.S. Employer Identification No.)

1875 Century Park East, Suite 1400, Los Angeles, California 90067
(Address of principal executive offices, including zip code)

(310) 270-9500

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On December 14, 2009, the Board of Directors of 1^st Century Bancshares, Inc. (“Bancshares”), appointed Bradley S. Satenberg, age 38,as Executive Vice President and Chief Financial Officer of Bancshares and its wholly owned subsidiary, 1st Century Bank, N.A. (the “Bank”), effective December 15, 2009.

Prior to joining Bancshares and the Bank, from March 2003 until December 2009, Mr. Satenberg was the Managing Director and Deputy Chief Financial Officer of Imperial Capital Bancorp in Los Angeles, a publicly held savings and loan holding company for its subsidiary savings institution, Imperial Capital Bank. He was responsible for financial and regulatory reporting, daily accounting and finance functions for Imperial Capital Bank, including real estate investments and off-balance sheet securitization.  Mr. Satenberg began his career with Arthur Andersen.  Over a 10 year period he rose to Senior Manager, Assurance Practice, focusing on financial markets.  Mr. Satenberg’s other responsibilities included performing financial audits, SEC filings, and budgeting.

Item 9.01

Financial Statements and Exhibits

(a)

Not applicable

(b)

Not applicable

(c)

Not applicable

(d)

Exhibits

Exhibit 99.1

Press release dated December 14, 2009 announcing the appointment of Bradley S. Satenberg as Executive Vice President and Chief Financial Officer of Bancshares and the Bank.  

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	1ST CENTURY BANCSHARES, INC.
Dated: December 15, 2009	By:	/s/ Jason P. DiNapoli.
		Jason P. DiNapoli
		President and Chief Operating Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated December 14, 2009 announcing the appointment of Bradley S. Satenberg as Executive Vice President and Chief Financial Officer of Bancshares and the Bank.

EX-99

Exhibit 99.1

Contact Information:

Alan I. Rothenberg

Chairman/Chief Executive Officer

Phone: (310) 270-9501

Jason P. DiNapoli

President/Chief Operating Officer

Phone: (310) 270-9505

1st CENTURY BANCSHARES, INC. ANNOUNCES NEW MEMBER ON EXECUTIVE TEAM

BRAD SATENBERG IS APPOINTED CHIEF FINANCIAL OFFICER

LOS ANGELES, CA – December 14th, 2009  – 1^st Century Bancshares, Inc. (NASDAQ: FCTY), the holding company of 1^st Century Bank, N.A. (the “Bank”), announced today the appointment of Bradley S. Satenberg as Executive Vice President and Chief Financial Officer, effective December 15, 2009.

“We welcome Mr. Satenberg to our executive team here at 1^st Century Bank,” said Alan I. Rothenberg, Chairman of the Board and Chief Executive Officer of 1^st Century Bancshares.  “Mr. Satenberg’s solid background in public accounting coupled with his banking experience will help us continue to build our franchise for many years to come.”

Prior to joining 1^st Century Bank, Mr. Satenberg was Managing Director and Deputy Chief Financial Officer of Imperial Capital Bancorp in Los Angeles, a $4 billion publicly held financial institution. He was responsible for financial and regulatory reporting, daily accounting and finance functions for the bank, including real estate investments and off-balance sheet securitization.  

Mr. Satenberg began his career with Arthur Andersen.  In a 10 year period he rose to Senior Manager, Assurance Practice, focusing on financial markets industries with asset bases up to $15 billion, management of $800 million in investments and $1 billion in revenues.  Other responsibilities included performing financial audits, SEC filings, and budgeting.  

Mr. Satenberg has a Bachelor of Business Administration, Accounting degree from the University of Texas at Austin.  He is actively involved in his community, participates in a number of charities and resides in Sherman Oaks with his wife and two children.

About 1st Century Bancshares, Inc.

1st Century Bancshares, Inc. is a publicly owned company traded on the Nasdaq Capital Market under the symbol “FCTY”.  The Company’s wholly owned subsidiary, 1st Century Bank, N.A., is a full service commercial bank headquartered in the Century City area of Los Angeles. The Bank’s primary focus is relationship banking to family owned and closely held small and middle market businesses, professional service firms and high net worth individuals, real estate investors, medical professionals, and entrepreneurs. The Company maintains a website at www.1stcenturybank.com. By including the foregoing website address link, the Company does not intend to incorporate by reference any material contained therein.

Safe Harbor

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 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 un certainties include, but are not limited to: (1) the impact of changes in interest rates, (2) a continuing decline in economic conditions, (3) increased competition among financial service providers, (4) government regulation; and (5) 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.