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 18, 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 7.01

Regulation FD

On December 18, 2009, 1st Century Bancshares, Inc. (the “Company”) issued a press release announcing the completion of the Company’s stock repurchase program pursuant to which the Board authorized the repurchase of up to $5 million of the Company’s common stock over a twenty-four month period (the “2008 Repurchase Program”). The Company commenced the 2008 Repurchase Program in September 2008, which it announced via a press release that was filed on September 4, 2008 with the U.S. Securities and Exchange Commission as an exhibit to a Current Report on Form 8-K.  A copy of the press release announcing the completion of the 2008 Repurchase Program is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Current Report on Form 8-K (including Exhibit 99.1) is being furnished pursuant to Item 7.01 and Item 9.01 of Form 8-K and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01

Financial Statements and Exhibits

(a)

Not applicable

(b)

Not applicable

(c)

Not applicable

(d)

Exhibits

Exhibit 99.1

Press release announcing the completion of the 2008 Repurchase Program, dated December 18, 2009.

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 18, 2009	By:	/s/ Jason P. DiNapoli.
		Jason P. DiNapoli
		President and Chief Operating Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release announcing the completion of the 2008 Repurchase Program, dated December 18, 2009.

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

1^ST CENTURY BANCSHARES COMPLETES STOCK REPURCHASE PROGRAM

LOS ANGELES – December 18, 2009 – 1^st Century Bancshares, Inc. (NASDAQ: FCTY) (the “Company”), the holding company of 1^st Century Bank, N.A. (the “Bank”), announced the completion of a stock repurchase program that was launched in September 2008.  Prior to commencement of the stock repurchase program, the Company’s Board of Directors authorized the purchase of up to $5 million of the Company’s common stock over a 24 month period.

The Company repurchased 1,163,800 shares of its common stock at an average price of $4.30, which represents approximately a 20% discount from its book value at September 30, 2009.  Even after repurchasing approximately 10% of its outstanding common stock, the Bank remains one of the most well-capitalized banks in Southern California with a risk based capital ratio of 21.33% as of September 30, 2009, more than twice the amount regulators require to be categorized as "well-capitalized.”

“The successful completion of the stock repurchase program not only reflects our belief in the value of the Company, but demonstrates that to our shareholders” said Alan I. Rothenberg, Chairman and CEO of 1^st Century Bancshares.  “During this past year of uncertainty, we’ve remained committed to delivering shareholder value through our stock repurchase program and ensuring that our customers are doing business with a bank that’s equally committed to its safety and security, as evidenced by our risk-based capital ratio of 21.33%.”

About 1st Century Bancshares, Inc.

1st Century Bancshares, Inc. is the bank holding company of 1st Century Bank, N.A., 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. Additional information is available at www.1stcenturybank.com.By including the foregoing Internet address link, the Company does not intend to incorporate by reference into this press release material not otherwise specifically incorporated herein.

Safe Harbor

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These forward looking statements, include, but are not limited to, 1st Century Bancshares’ ability to provide greater flexibility for capital planning and operational expansion, navigate the difficult banking environment, maintain strong loan loss reserves and remain well capitalized and implement operational enhancements.  These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements.  These risks and uncertainties include, but are not limited to: (1) the impact of changes in interest rates, a decline in economic conditions and increased competition among financial service providers on 1st Century’s operating results, ability to attract deposit and loan customers and the quality of 1st Century’s earning assets; (2) government regulation; and (3) the other risks set forth in 1st Century’s reports filed with the U.S Securities and Exchange Commission.  1^st Century does not undertake, and specifically disclaims, any obligation to revise or update any forward-looking statements for any reason