Exhibit 99.1
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 | | PRESS RELEASE |
June 15, 2004
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| CONTACT: | | ECB Bancorp, Inc. |
| | | Gary M. Adams, Chief Financial Officer |
| | | (252) 925-5525 |
| | | (252) 925-8491 facsimile |
FOR IMMEDIATE RELEASE
ECB BANCORP, INC. REPORTS DECLARATION OF
QUARTERLY CASH DIVIDEND
ENGELHARD, NORTH CAROLINA-ECB Bancorp, Inc. (“ECB”), the parent holding company of The East Carolina Bank, announces that on June 15, 2004, the corporation’s Board of Directors declared a quarterly cash dividend of $0.1425 per share, payable July 12, 2004 to shareholders of record on June 29, 2004.
On an annualized basis the corporation’s 2004 dividend of $0.57 per share represents a 14% increase over the annual dividend in 2003 of $0.50 per share.
Excitement is building as the scheduled opening of ECB’s 20thfull-service branch, located at 1724 Eastwood Rd in Wilmington, is just a few weeks away. The new branch office will have a full staff that includes a mortgage loan officer, construction loan specialist, and both retail and commercial lending officers. The new office features approximately 3,600 square feet of service area, seven offices, two drive-through lanes, a drive-up automated teller machine, and a night depository. Operating hours will be Monday through Thursday 8:30 a.m. to 5 p.m. and 8:30 a.m. to 6 p.m. on Friday. A formal grand opening is scheduled for later this summer.
Headquartered in Engelhard, NC, The East Carolina Bank, is a state-chartered, independent community bank insured by the FDIC. The Bank provides a full range of financial services through its 20 offices in eastern North Carolina, including new full-service branch offices in Morehead City and soon in Wilmington. The Bank also provides mortgages, insurance services through the Bank’s licensed agents and investment and brokerage services offered through a third-party broker-dealer. ECB’s common stock is listed on The Nasdaq SmallCap Market under the symbol “ECBE”. More information can be obtained by visiting ECB’s web site at www.ecbbancorp.com.
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