SOURCE: 1st Century Bank, N.A.

June 04, 2007 19:51 ET

1st Century Bank, N. A. Announces the Appointment of Dan T. Kawamoto to Executive Vice President and Chief Financial Officer

LOS ANGELES, CA--(Marketwire - June 4, 2007) - 1st Century Bank, N.A. ("1st Century") (OTCBB: FCNA) today announced that the Board of Directors has appointed Dan T. Kawamoto as the Bank's Executive Vice President and Chief Financial Officer. Prior to joining the Bank, Mr. Kawamoto was an executive for over 15 years at Comerica Bank - Western Market ("Comerica Bank"). He served as the Division Executive Vice President - Personal Financial Services at Comerica Bank from 1998 to 2006. In this capacity, Mr. Kawamoto was responsible for delivering all branch-related services to external and internal customers; personal and business deposit pricing; hiring and training of branch staff; site selection; and execution of the new branch opening program in the Western Market for Comerica Bank. From 1996 to 1997, Mr. Kawamoto served as the Chief Administrative Officer of Comerica Bank where he was the bank's principal financial officer and was also responsible for the human resources, legal, and operations departments. From 1991 to 1996, Mr. Kawamoto served as the Chief Financial Officer of Comerica Bank - California, after having served initially as the Chief Financial Officer of Plaza Bank of Commerce before its acquisition by Comerica Bank. Mr. Kawamoto played a key role in Comerica's acquisition of Bank of Industry, Pacific Western Bank, University Bank and Trust, Metro Bank, and Imperial Bank. Mr. Kawamoto, a Certified Public Accountant, was a partner with Ernst & Young prior to joining Plaza Bank of Commerce.

"Dan is a key addition to the Executive Management Team," said Jason P. DiNapoli, President and Chief Operating Officer. "His experience with asset / liability management, deposit pricing, product management, and mergers and acquisitions will be extremely valuable to the growth of the Bank in the coming years."

Alan Rothenberg, Chairman and CEO, added, "The Bank now has a Chief Financial Officer that will take us to the next level of performance, both in terms of growth and profitability. We are very pleased to welcome Dan to our Team."

1st Century is a full service commercial bank headquartered in the Century City area of Los Angeles, California. 1st Century'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 letter constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements relate to 1st Century's current expectations regarding deposit and loan growth, operating results and the strength of the local economy. 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 Office of the Comptroller of the Currency, including its Annual Report on Form 10-K for the year ended December 31, 2006. 1st Century does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.

Contact Information

  • Contact Information:

    Alan I. Rothenberg
    Chairman/Chief Executive Officer
    Phone: (310) 270-9501
    Fax: (310) 270-9520

    Jason P. DiNapoli
    President/Chief Operating Officer
    Phone: (310) 270-9505
    Fax: (310) 270-9520