Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2011

Parent Company Only Condensed Financial Information Disclosure [Abstract]

Parent Company Only Condensed Financial Information Disclosure [Text Block]

(19)     Parent Company Only Condensed Financial Information

The condensed financial statements of 1^st Century Bancshares, Inc. as of and for the years ended December 31, 2011 and 2010 are presented below:

Condensed Balance Sheets

(in thousands)	December 31, 2011			December 31, 2010
Assets
Cash and due from banks	$	1,577		$	3,346
Investment in subsidiary bank	43,532			41,098
Total Assets	$	45,109		$	44,444
Liabilities and Stockholders’ Equity
Other liabilities	$	58		$	106
Common stock	108			107
Additional paid-in capital	64,488			64,069
Accumulated deficit	(13,841		)	(14,866		)
Accumulated other comprehensive income	1,567			838
Treasury stock at cost	(7,271		)	(5,810		)
Total Stockholders’ Equity	45,051			44,338
Total Liabilities and Stockholders’ Equity	$	45,109		$	44,444

Condensed Statements of Operations

	Years ended December 31,
(in thousands)	2011			2010
Interest income	$	—		$	—
Interest expense	—			—
Net interest income	—			—
Compensation and benefits	(59		)	(67		)
Other operating expenses	(201		)	(217		)
Loss before taxes	(260		)	(284		)
Income tax provision	—			—
Loss before equity in undistributed loss of subsidiary bank	(260		)	(284		)
Equity in undistributed income (loss) of subsidiary bank	1,285			(1,679		)
Net income (loss)	$	1,025		$	(1,963	)

Condensed Statements of Cash Flows

(in thousands)	Years ended December 31,
	2011			2010
Cash flows from operating activities:
Net income (loss)	$	1,025		$	(1,963	)
Adjustments to reconcile net income (loss) to net cash used in operations:
Equity in undistributed net (income) loss of subsidiary bank	(1,285		)	1,679
(Decrease) increase in other liabilities	(48		)	98
Net cash used in operating activities	(308		)	(186		)
Cash flows from financing activities:
Purchase of treasury stock	(1,399		)	(406		)
Shares surrendered to pay taxes on vesting of restricted stock	(62		)	(144		)
Net cash used in financing activities	(1,461		)	(550		)
Net change in cash and cash equivalents	(1,769		)	(736		)
Cash and cash equivalents, beginning of year	3,346			4,082
Cash and cash equivalents, end of year	$	1,577		$	3,346