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Last $7.36 USD
Change Today -0.14 / -1.87%
Volume 15.2K
FCTY On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

1st century bancshares inc (FCTY) Key Developments

1st Century Bancshares, Inc. Reports Financial Results for the First Quarter Ended March 31, 2015

1st Century Bancshares, Inc. reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net interest income of $5,020,000 against $4,346,000 a year ago. Net income was $315,000 or $0.03 per basic and diluted share against $402,000 or $0.04 per basic and diluted share a year ago. Pre-tax, pre-provision earnings were $711,000 against $712,000 a year ago. Ending book value per share was $6.15 against $5.85 a year ago. The improvement in net interest income was primarily attributable to increases in the average balances of loan portfolio during the quarter ended March 31, 2015 as compared to the same period last year, partially offset by a decline in the average balance of investment portfolio during the same period.  The decline in net income during the three months ended March 31, 2015 as compared to the same period last year was primarily due to a $150,000 increase in provision for loan losses, a $178,000 decline in gains from the sale of securities, and a $540,000 increase in non-interest expenses.

1st Century Bancshares, Inc., Annual General Meeting, May 07, 2015

1st Century Bancshares, Inc., Annual General Meeting, May 07, 2015., at 17:00 Pacific Standard Time. Location: 1875 Century Park East, Suite 100. Agenda: To consider election of directors; to ratify the appointment of Crowe Horwath LLP as independent registered public accounting firm; and to transact such other business as may properly come before the annual meeting of stockholders and at any and all adjournments thereof.

1st Century Bancshares, Inc. Announces That Joseph J. Digange Will Not Stand for Reelection to the Board

On April 6, 2015, Joseph J. Digange notified the board of directors of 1 Century Bancshares, Inc. that he would not stand for reelection to the board at the upcoming annual meeting of stockholders to be held on May 7, 2015.

1st Century Bancshares, Inc. Reports Audited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

1st Century Bancshares, Inc. reported audited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income of $554,000 or $0.06 per share on net interest income of $4,955,000 against net income of $217,000 or $0.02 per share on net interest income of $4,447,000 for the same period a year ago. The net income increase was related to an income tax benefit of approximately $3.1 million recognized during the year ended December 31, 2013 in connection with the reversal of deferred tax valuation allowance, as compared to $1.9 million of income tax provisions recognized during the year ended December 31, 2014. For the year, the company reported net income of $2,361,000 or $0.24 per share on net interest income of $18,459,000 against net income of $6,863,000 or $0.76 per share on net interest income of $16,208,000 for the same period a year ago.

1st Century Bancshares, Inc. Presents at FIG Partners 6th Annual West Coast CEO Forum, Feb-04-2015

1st Century Bancshares, Inc. Presents at FIG Partners 6th Annual West Coast CEO Forum, Feb-04-2015 . Venue: Palace Hotel, San Francisco, California, United States.

 

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Industry Analysis

FCTY

Industry Average

Valuation FCTY Industry Range
Price/Earnings 32.2x
Price/Sales 3.5x
Price/Book 1.1x
Price/Cash Flow 33.5x
TEV/Sales NM Not Meaningful
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