Exhibit 99.1

Contact: Thomas E. Vessey

President & CEO

Telephone: (909) 798-3611

FAX: (909) 798-1872

e-mail: tvessey@1stcent.com

 

PRESS RELEASE   

FOR IMMEDIATE RELEASE

1st CENTENNIAL BANCORP ANNOUNCES SECOND QUARTER RESULTS        www.1stcent.com

Redlands, California—July 11, 2007—1

st Centennial Bancorp (OTCBB: FCEN), parent holding company of 1st Centennial Bank, today announced financial results for the second quarter. The Company reported earnings for the quarter ended June 30, 2007 of $2.146 million, compared to earnings of $1.847 million for the second quarter 2006, representing a 16%, or $299,000 increase. Basic earnings per share were 44 cents for the current quarter compared to 39 cents for the same period last year. Diluted earnings per share were 40 cents for the current quarter compared to 35 cents for the same period last year.

The Return on Average Equity and Return on Average Assets as of June 30, 2007 were 18.65% and 1.45%, respectively, compared to 20.03% and 1.54%, for the same period in 2006, respectively. As of June 30, 2007 when compared to the same period last year, average equity increased $8.7 million or 24% and average assets increased $103.3 million or 22%.

Total net loans increased $31.3 million, or 7% from $426.2 million to $457.5 million from December 31, 2006 to June 30, 2007. Deposits, at $493.4 million, represent an increase of $36.9 million or 8% from $456.5 million at December 31, 2006. Total assets reached a record high of $591.9 million at June 30, 2007, up 7%, or $40.8 million, from $551.1 million at December 31, 2006. The growth in assets, loans, and deposits was due to the continued success of our business development efforts in and around the marketplaces we serve.

Thomas E. Vessey, President and Chief Executive Officer, stated, “While the economic environment has softened, we have directed our efforts to diversifying our loan portfolio with positive results. Our performance for the second quarter of 2007 reflects the momentum of the many business markets we serve.”

Patrick J. Meyer, Chairman of the Board stated, “We are delighted to reach record performance during the second quarter of 2007. We are building on a strong foundation. We have a commitment to community banking, and will continue to work hard to earn the continued trust and confidence shown to us by our loyal shareholder and customer base.”

1st Centennial Bank operates its main office and construction/real estate loan production offices in downtown Redlands, California; its Religious Lending Group and its SBA/Commercial Lending Group and a full-service branch in Brea, California; its Homeowners Association and a full-service branch in Escondido, and full-service branches in Palm Desert, Irwindale and Temecula, California.

The statements contained in this release that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties including but not limited to the health of the National and California economies, the Company’s ability to implement its strategy and expand its lending operations, the Company’s ability to attract and retain skilled employees, customers’ service expectations, the Company’s ability to successfully deploy new technology and gain efficiencies there from, the success of branch expansion, changes in interest rates, loan portfolio performance, and other factors detailed in the Company’s SEC filings.

Additional information is available on the Internet at www.1stcent.com or by contacting Beth Sanders, Executive Vice President and Chief Financial Officer at bsanders@1stcent.com.


The following information was filed by 1St Centennial Bancorp on Thursday, July 12, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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