GOOD OLD DAYS:

When the Lido Theatre opened in 1938, Bette Davis was a Hollywood movie star living in Corona del Mar.

The first movie to premiere at the theater was “Jezebel,” starring none other than Bette Davis. Davis had stopped by for her daily visit and told the owner “they had better open with my picture.”

The Lido Theatre was restored in the late 1980s, but the neon marquee and box office are from the original building.

Friday night, the marquee announced opening night of the traditional holiday classic, “It’s A Wonderful Life” starring Jimmy Stewart and Donna Reed.

The movie premiered at The Lido in 1946, the year it opened.

Larry Poricelli is an area district manager for Regency Theatres. He remembers former Lido Theatre owner James Edwards Sr. talking about seeing the film himself that year.

“It didn’t do very well commercially. Mr. Edwards said it might have done better if they had released it at a better time of year. Back in those days, movies didn’t run at Christmas the way they do now.”

Considering what makes it on the screen these days, it’s hard to imagine that during production, director Frank Capra had to go before the Motion Picture Assn. of America to explain the movie’s use of the words “dang,” “jerk,” and the phrase, “nuts to you.”

Despite not doing well commercially when it opened, “It’s A Wonderful Life” was recently named the Most Inspirational Film and the Most Powerful Movie of all time by the American Film Institute.

After its initial run in 1946, the movie was never shown at the Lido Theatre again until 2002.

That was the year the Newport Beach Film Festival, in partnership with Regency Theatres, brought the film back for a special one-night-only presentation.

Due to public demand for additional screenings, this is the first year the film will be shown nightly for a week.

Greg Schwenk, executive director of the Newport Beach Film Festival, is glad the movie is available again in theaters.

“I’m always pleased by how many people haven’t seen it on the big screen, and that’s how Frank Capra and the [movie] people would want viewers to see it,” he said.

Lido Plaza hosted a holiday celebration Friday. Merchants offered food, drinks and desserts while Dickens carolers strolled through the courtyard.

Roger and Teri Andersson of Tustin Ranch have seen the movie on television many times and even bought the DVD last year, but couldn’t wait to see it in a movie theater.

The couple wanted to see it without commercial interruptions, on a big screen, where it’s “right there, so big, alive, and you can’t move.”

The movie is a favorite of hers, Teri said.

She loves Jimmy Stewart and the movie’s message.

“We, as a society, don’t appreciate what we have until it’s gone.”

Teri and Roger have been together for 20 years, and Roger, who apparently appreciates what he has, was looking forward to seeing the movie at The Lido Theatre for other reasons as well.

“How many other movie theaters have a balcony where we can make out?” he asked.

WHAT: “It’s A Wonderful Life” screening

WHEN: 7 p.m. nightly through Dec. 20

WHERE: The Regency Lido Theatre, 3459 Via Lido, Newport Beach

COST: $9.50 adults; $6.50 for seniors and children

INFO: Call (949) 673-8351 or go to www.regencymovies.com

SUE THOENSEN may be reached at (714) 966-4627 or at sue.thoensen@latimes.com.