-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DnsVmJfh7MOaelI1Gt2BkedchBR5cDuZGZ4xTnNRqfEbwV/NFL2Jn/I94TZZznaV zDk/j+SyWfmBRs7L/0mw9g== 0000950168-98-003403.txt : 19981106 0000950168-98-003403.hdr.sgml : 19981106 ACCESSION NUMBER: 0000950168-98-003403 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981027 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ECB BANCORP INC CENTRAL INDEX KEY: 0001066254 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 562090738 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-24753 FILM NUMBER: 98738457 BUSINESS ADDRESS: STREET 1: P O BOX 337 STREET 2: HWY 264 CITY: ENGELHARD STATE: NC ZIP: 27824 BUSINESS PHONE: 2529259411 8-K 1 ECB BANCORP, INC. FORM 8-KSB SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-KSB PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 27, 1998 ----------------------- ECB BANCORP, INC. (Exact name of registrant as specified in its charter) NORTH CAROLINA 0001060662 56-2090738 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) Hwy. 264 Post Office Box 337 Engelhard, North Carolina 27824 --------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (252) 925-9411 ------------------ Item 5. Other Events. On October 27, 1998, Registrant reported its financial results for the nine months ended September 30, 1998, and that its Board of Directors had declared a cash dividend on its outstanding common stock. A copy of Registrant's press release is attached as Exhibit 99 to this Report. Item 7. Financial Statements and Exhibits. Exhibits. The following exhibits are filed herewith: Exhibit Number Description of Exhibit -------------- ---------------------- 99 Copy of Registrant's press release 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ECB BANCORP, INC. (Registrant) Date: October 30, 1998 By: /s/ Arthur H. Keeney, III ------------------------- Arthur H. Keeney, III President and Chief Executive Officer 3 EX-99 2 EXHIBIT 99 Exhibit 99 PRESS RELEASE CONTACT: Gary M. Adams/Chief Financial Officer (252) 925-9111, extension 209 ECB BANCORP, INC. ANNOUNCES NINE MONTH EARNINGS AND DECLARES DIVIDEND Engelhard, NC (October 27, 1998) - ECB Bancorp, Inc., the holding company for The East Carolina Bank, today reported its earnings for the nine months ended September 30, 1998. On July 22, 1998, The East Carolina Bank reorganized into a bank holding form of organization (ECB Bancorp, Inc.) and split its stock on a 3-for-1 basis. Today's release represents the first report of the consolidated financial results for ECB Bancorp, Inc. and also gives effect to the 3-for-1 stock split. For the nine months ended September 30, 1998, ECB Bancorp, Inc. generated a net income of $1,545,000 or $0.87 per share, which is a 13.9% increase over the $1,357,000 or $0.76 per share for the period ended September 30, 1997. Total assets were $200,796,000 at September 30, 1998, which was a 5.5% increase over total assets of $190,262,000 at September 30, 1997. Deposits of $181,489,000 represented a 4.9% increase over last year's $173,093,000. Loans grew 9.9% to $130,659,000 at September 30, 1998, up from $118,827,000 at September 30, 1997. Shareholders' equity for the period ended September 30, 1998 was $17,291,000, representing a 10.2% increase over the September 30, 1997 level. These financial results equate to a 1.07% return on average assets and a 12.50% return on average equity on an annualized basis. At its regularly scheduled monthly Board of Directors meeting held on October 21, 1998, the Directors of ECB Bancorp, Inc. declared a 1998 dividend of $.255 per share payable on December 7, 1998 to shareholders of record on November 9, 1998. This represents a 9.3% increase over the 1997 annual dividend of $.233 declared in October 1997 by The East Carolina Bank prior to its July 1998 reorganization into a bank holding company form of organization. The dividends reported above have been restated to give effect for the 3-for-1 stock split. At period end, book value per share was $9.71. 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 15 branches in eastern North Carolina, nine mainland offices in Currituck, Hyde, Pitt, Tyrrell, and Washington counties, six offices on North Carolina's famed "Outer Banks" from Ocracoke Island in Hyde County to Southern Shores in Dare County, and a Loan Production office in Washington, NC. ECB Bancorp, Inc.'s common stock is currently listed on Nasdaq's Over-The-Counter Bulletin Board under the symbol "ECBE." 4 -----END PRIVACY-ENHANCED MESSAGE-----