LOS ANGELES, CA -- 08/29/08 --
1st Century Bank, N.A. (the "Bank"), a
wholly owned subsidiary of 1st Century Bancshares, Inc. (OTCBB: FCTY),
today announced the expansion of its relationship management team with the
addition of Michelle Johnson and Christopher S. Hoshek as Vice President,
Relationship Manager.
"With one of the strongest balance sheets amongst our peers and relatively
pristine asset quality, we are in a fortunate position to continue to
invest in our organization as part of our efforts to gain market share,"
said Jason P. DiNapoli, chief executive officer of 1st Century Bank.
"Christopher is a talented business executive who possesses strong
relationship management, finance, and banking skills. His respective areas
of expertise further strengthen our ability to attract, retain and develop
accounts as we look to expand our presence in the Los Angeles market."
Mr. Hoshek has more than nine years of experience in the financial services
industry, most recently as an associate at Legg Mason Real Estate
Investors, Inc., where he closed more than $300 million in structured debt
transactions. His extensive background in the financial services industry
includes loan analysis, financial modeling, structuring and negotiating
terms sheets, asset management, loan workouts, and in-depth due diligence.
Mr. Hoshek holds a Bachelor of Arts degree in political science, with a
minor in business administration, from the University of Southern
California and a real estate license from the California Department of Real
Estate. He is a founding member of The Nine Tenths Group, a non-profit
organization focused on educating young professionals through meaningful
exchange with community and peer leaders.
About 1st Century Bancshares, Inc.
1st Century Bank, N.A. is a full service commercial bank headquartered in
the Century City area of Los Angeles. A wholly owned subsidiary of 1st
Century Bancshares, Inc., 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.
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, the company's ability to gain market share and expand its
presence in the Los Angeles market. 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 the company's operating
results, ability to attract deposit and loan customers and the quality of
the company's earning assets; (2) government regulation; and (3) 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.
Contact Information:
Jason P. DiNapoli
President/Chief Operating Officer
Phone: (310) 270-9505
Angie Yang/Eileen Rauchberg
PondelWilkinson Inc.
Phone: (310) 279-5980
