Exhibit 99.1

PRESS RELEASE

April 17, 2007

CONTACT:	ECB Bancorp, Inc.
	Gary M. Adams/Chief Financial Officer
	(252) 925-5525
	(252) 925-3131 facsimile
	Gary.Adams@ecbbancorp.com

FOR IMMEDIATE RELEASE

ECB HOLDS ANNUAL MEETING – REPORTS 2007

FIRST QUARTER FINANCIAL RESULTS

ENGELHARD, NC – April 17, 2007 – At ECB Bancorp Inc.’s (NASDAQ: ECBE) (“ECB” or the “Company”) 2007 Annual Meeting held on April 17, 2007, the shareholders reelected three existing directors-Arthur H. Keeney III of Engelhard, Joseph T. Lamb, Jr. of Nags Head and Michael D. Weeks of Washington – for new three-year terms. Weeks was first elected in April 2005 to replace Ray M. Spencer, Swan Quarter, NC who retired from the Board at the 2005 Annual Meeting after 31 years of dedicated service to the organization.

Arthur H. Keeney III, ECB’s President and Chief Executive Officer presided over the meeting, which included a video presentation updating the shareholders on significant events during 2006. The video highlighted the Company’s 2006 financial results, and discussed its continued service expansion into both new and existing markets. The Company currently has two branches under construction in the growing communities of Greenville and Winterville (both in Pitt County). It is also constructing a facility in Ocean Isle Beach (Brunswick County) which is part of the rapidly expanding greater Wilmington area in southeast North Carolina. Mr. Keeney then addressed the group about his year as Chairman of the North Carolina Bankers Association (NCBA) and his reflections about the new form of relationship between CEOs and independent directors in a world trying to improve its governance processes under a Sarbanes-Oxley regulatory environment. Mr. Keeney also shared some thoughts about the North Carolina economy as seen by Dr. Harry Davis, NCBA Economist and Professor of Banking at Appalachian State University.

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2006 FIRST QUARTER HIGHLIGHTS

• Net income for the 2007 first quarter was $952,000 or $0.33 per diluted share compared to net income of $1,098,000 or $0.51 for the first quarter of 2006.

• Net interest income for the 2007 first quarter rose 1.8% to $4,953,000 from $4,867,000 a year ago.

• Consolidated assets increased 5.9% to $616,282,000 at March 31, 2007 from $581,771,000 at March 31, 2006.

• Loans increased 5.9% to $418,308,000 at March 31, 2007 from $394,986,000 at March 31, 2006.

• Deposits increased 4.2% to $502,980,000 at March 31, 2007 from $482,487,000 at March 31, 2006.

• Non-interest income increased 9.6% to $1,441,000 from $1,315,000 a year ago.

• Increased cash dividend by 2.9% to $0.70 per share on an annualized basis.

The Company successfully sold an additional 867,500 shares of common equity in late March 2006 for $26.5 million to support ECB’s various strategic initiatives for expansion and growth over the next several years. The full impact of those shares on the Company’s earnings per share (basic and diluted) is reflected in the 2007 first quarter results.

Arthur H. Keeney III, President and CEO stated: “Loan demand in all markets was a little flatter than we usually see at this time of year reflecting the caution with which the economy is currently moving. The result of this lower than usual loan volume when coupled with the continued high cost of deposits, was only an incremental (1.8%) increase in the Company’s net interest income in the first quarter of 2007 compared to first quarter of 2006. However, we continue to believe that our credit portfolio quality statistics remain above our peer averages as we will not sacrifice credit quality simply for the sake of growth.”

Mr. Keeney continued: “Our first quarter was also impacted by increased expenses as we become a Sarbanes-Oxley Section 404 accelerated filer for the year ended December 31, 2006. Additionally, we took advantage of the opportunity to hire some talented bankers as we look forward to opening two new branches in the Greenville and Winterville, North Carolina (Pitt County) markets and in Ocean Isle Beach, North Carolina (Brunswick County) either late in the second quarter or early in the third quarter of 2007. When opened, revenue from those new locations will then begin to match up with the costs already undertaken. I can also report that the fee income from our insurance and investment products in the first quarter of 2007 exceeded our expectations.”

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About ECB Bancorp, Inc.

ECB Bancorp, Inc. is a bank holding company, headquartered in Engelhard, North Carolina, whose wholly-owned subsidiary, 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 covering eastern NC from Currituck to Wilmington and Greenville to Hatteras. ECB also provides mortgages, insurance services through the Bank’s licensed agents, and investment and brokerage services offered through a third-party broker-dealer. The Company’s common stock is listed on The Nasdaq Global Market under the symbol “ECBE”. More information can be obtained by visiting ECB's web site at www.ecbbancorp.com.

"Safe Harbor Statement" Under the Private Securities Litigation Reform Act of 1995

Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, expectations or beliefs about future events or results, and other statements that are not descriptions of historical facts, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company's Annual Report on Form 10-K and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "forecasts", "potential" or "continue," or similar terms or the negative of these terms, or other statements concerning opinions or judgments of the Company's management about future events.

Factors that could influence the accuracy of such forward-looking statements include, but are not limited to, the financial success or changing strategies of the Company's customers, actions of government regulators, the level of market interest rates, weather and similar conditions, particularly the effect of hurricanes on the Company's banking and operations facilities and on the Company's customers and the communities in which it does business, changes in general economic conditions and the real estate values in our banking market (particularly changes that affect our loan portfolio), the abilities of our borrowers to repay their loans, and the values of loan collateral. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by the cautionary statements in this paragraph. The Company has no obligations, and does not intend, to update these forward-looking statements.

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See 3 pages of financial information attached

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ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Balance Sheets

March 31, 2007, December 31, 2006 and March 31, 2006

(Dollars in thousands, except per share data)

	March 31, 2007 (unaudited)			December 31, 2006*			March 31, 2006 (unaudited)
Assets
Non-interest bearing deposits and cash	$	17,047		$	15,591		$	20,224
Interest bearing deposits		883			891			985
Overnight investments		9,825			23,575			24,550
Total cash and cash equivalents		27,755			40,057			45,759
Investment securities
Available-for-sale, at market value (cost of $131,078, $128,005 and $107,059 at March 31, 2007, December 31, 2006 and March 31, 2006, respectively)		129,424			125,860			104,241
Loans		418,308			417,943			394,986
Allowance for loan losses		(4,863	)		(4,725	)		(4,852	)
Loans, net		413,445			413,218			390,134
Real estate & repossessions in settlement of loans, net		266			240			—
Federal Home Loan Bank common stock, at cost		1,257			1,229			1,814
Bank premises and equipment, net		24,249			23,042			19,509
Accrued interest receivable		4,107			4,619			3,531
Bank owned life insurance		7,813			7,741			7,501
Other assets		7,966			8,064			9,282
Total	$	616,282		$	624,070		$	581,771
Liabilities and Shareholders' Equity
Deposits
Demand, noninterest bearing	$	93,452		$	96,890		$	92,482
Demand, interest bearing		91,180			94,569			96,458
Savings		19,226			19,809			22,632
Time		299,122			300,981			270,915
Total deposits		502,980			512,249			482,487
Accrued interest payable		2,694			2,363			1,820
Short-term borrowings		41,588			31,105			16,238
Long-term obligations		—			10,310			18,310
Other liabilities		5,199			5,250			3,630
Total liabilities		552,461			561,277			522,485
Shareholders' equity
Common stock, par value $3.50 per share; authorized 10,000,000 shares; issued and outstanding 2,921,992 at March 31, 2007 and 2,902,242 at December 31, 2006 and 2,902,542 at March 31, 2006		10,188			10,119			10,116
Capital surplus		26,897			26,680			26,574
Retained earnings		27,773			27,333			24,329
Accumulated other comprehensive loss		(1,037	)		(1,339	)		(1,733	)
Total shareholders' equity		63,821			62,793			59,286
Total	$	616,282		$	624,070		$	581,771

* Derived from audited consolidated financial statements.

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ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Income Statements

For the three months ended March 31, 2007 and 2006

(Dollars in thousands, except per share data)

	Three months ended March 31,
	2007		2006
	(unaudited)		(unaudited)
Interest income:
Interest and fees on loans	$	8,110	$	7,060
Interest on investment securities:
Interest exempt from federal income taxes		302		266
Taxable interest income		1,109		798
FHLB stock dividends		18		50
Other interest		277		123
Total interest income		9,816		8,297
Interest expense:
Deposits:
Demand accounts		401		243
Savings		24		28
Time		3,758		2,633
Short-term borrowings		680		112
Long-term obligations		—		414
Total interest expense		4,863		3,430
Net interest income		4,953		4,867
Provision for loan losses		150		200
Net interest income after provision for loan losses		4,803		4,667
Noninterest income:
Service charges on deposit accounts		770		793
Other service charges and fees		326		216
Mortgage origination brokerage fees		248		214
Income from bank owned life insurance		72		65
Other operating income		25		27
Total noninterest income		1,441		1,315
Noninterest expenses:
Salaries		1,980		1,771
Retirement and other employee benefits		670		662
Occupancy		432		395
Equipment		499		418
Professional fees		306		49
Supplies		54		83
Telephone		132		107
Other operating expenses		888		917
Total noninterest expenses		4,961		4,402
Income before income taxes		1,283		1,580
Income taxes		331		482
Net Income	$	952	$	1,098
Net income per share – basic	$	0.33	$	0.51
Net income per share—diluted	$	0.33	$	0.51
Weighted average shares outstanding—basic		2,894,067		2,133,275
Weighted average shares outstanding—diluted		2,911,899		2,150,583

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ECB Bancorp, Inc.

Supplemental Quarterly Financial Data (Unaudited)

(Dollars in thousands, except per share data)

	3/31/07			12/31/06			9/30/2006			6/30/2006			3/31/06
Income Statement Data:
Interest income	$	9,816		$	9,993		$	9,367		$	8,929		$	8,297
Interest expense		4,863			4,830			3,962			3,667			3,430
Net interest income		4,953			5,163			5,405			5,262			4,867
Provision for loan losses		150			(99	)		50			200			200
Net after provision expense		4,803			5,262			5,355			5,062			4,667
Noninterest income		1,441			1,566			1,753			1,549			1,315
Noninterest expense		4,961			5,038			4,591			4,506			4,402
Income before income taxes		1,283			1,790			2,517			2,105			1,580
Income taxes		331			416			822			690			482
Net income	$	952		$	1,374		$	1,695		$	1,415		$	1,098
Per Share Data and Shares Outstanding:
Net income – basic	$	0.33		$	0.48		$	0.59		$	0.49		$	0.51
Net income – diluted		0.33			0.47			0.58			0.49			0.51
Cash dividends		0.175			0.170			0.170			0.170			0.170
Book value at period end		21.84			21.64			21.28			20.45			20.43
Dividend payout ratio		53.03	%		35.42	%		28.81	%		34.69	%		33.33	%
Weighted-average number of common shares outstanding:
Basic		2,894,067			2,886,459			2,886,440			2,885,988			2,133,275
Diluted		2,911,899			2,910,743			2,910,721			2,910,804			2,150,583
Shares outstanding at period end		2,921,992			2,902,242			2,902,242			2,902,242			2,902,542
Balance Sheet data:
Total assets	$	616,282		$	624,070		$	599,534		$	579,137		$	581,771
Loans – gross		418,308			417,943			422,975			413,432			394,986
Allowance for loan losses		4,863			4,725			4,858			4,999			4,852
Investment securities		129,424			125,860			114,449			104,672			104,241
Interest earning assets		559,697			569,498			547,431			520,851			526,576
Premises and equipment, net		24,249			23,042			21,181			21,452			19,509
Total deposits		502,980			512,249			474,232			478,254			482,487
Short-term borrowings		41,588			31,105			46,184			17,052			16,238
Long-term obligations		—			10,310			10,310			18,310			18,310
Shareholders' equity		63,821			62,793			61,773			59,340			59,286
Selected Performance Ratios: (annualized)
Return on average assets		0.62	%		0.89	%		1.16	%		0.99	%		0.79	%
Return on average shareholders' equity		6.00	%		8.83	%		11.16	%		9.54	%		11.51	%
Net interest margin		3.71	%		3.77	%		4.21	%		4.19	%		4.06	%
Efficiency ratio		74.85	%		72.81	%		62.64	%		64.41	%		69.30	%
Asset Quality Ratios:
Nonperforming loans to period-end loans		0.04	%		0.04	%		0.04	%		0.12	%		0.02	%
Allowance for loan losses to period-end loans		1.16	%		1.13	%		1.15	%		1.21	%		1.23	%
Allowance for loan losses to nonperforming loans		2,930	%		2,568	%		2,570	%		1,013	%		7,960	%
Net charge-offs to average loans (annualized)		0.01	%		0.03	%		(0.05)	%		0.05	%		0.00	%
Capital Ratios:
Equity-to-assets ratio		10.36	%		10.06	%		10.30	%		10.25	%		10.19	%
Leverage Capital ratio		10.53	%		12.05	%		12.66	%		12.54	%		12.69	%
Tier 1 Capital ratio		13.03	%		15.08	%		14.94	%		15.12	%		15.46	%
Total Capital ratio		14.01	%		16.04	%		15.94	%		16.17	%		16.51	%

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