Exhibit 99.1

PRESS RELEASE

April 21, 2009

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 2009

FIRST QUARTER FINANCIAL RESULTS UP 19.8%

ENGELHARD, NC– At ECB Bancorp Inc.’s (NASDAQ: ECBE) (“ECB” or the “Company”) 2009 Annual Meeting held on April 21, 2009, the shareholders reelected three existing directors-George T. Davis, Jr. of Swan Quarter, Gregory C. Gibbs of Engelhard and John F. Hughes, Jr. of Manteo – for new three-year terms.

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 2008. The video highlighted the Company’s 2008 financial results and discussed its continued service expansion into new markets, including the newest office, Leland (Brunswick County), in 2008. The video also spotlighted an interview with retiring President Keeney on his tenure at ECB. During his leadership the Bank implemented a “BEST” strategic initiative (“Excellence in Community Banking”) that changed the Bank’s culture by placing emphasis on the communities it serves, opened 13 new branches from the South Carolina border to the Virginia border, introduced 21 new products and services, raised over $30 million in common stock offerings and increased totals assets over 400%. President Keeney was distinguished by being appointed to serve as a member of the NC Banking Commission (1998-2005) and being elected by his peers as Chairman of the North Carolina Bankers Association in 2006-2007. Chairman R.S. Spencer, Jr. and the Board paid a special tribute to President Keeney. Besides being presented with a handsome captain’s chair for his years of dedicated service, Chairman Spencer announced the establishment of the Art and Alice Keeney Scholarship Endowment for Beaufort County Community College (BCCC).

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Washington Mayor Judy Jennette, who is also the Executive Director for the BCCC Foundation, was present to accept the scholarship endowment. President Keeney has served on the BCCC Foundation as a Trustee/Board member for over seven years.

2009 FIRST QUARTER HIGHLIGHTS

• Net income for the three months ended March 31, 2009 totaled $1,253,000, a 19.8% increase over the $1,046,000 net income for the three months ended March 31, 2008. After adjusting for $207,000 in preferred stock dividends and accretion of warrant discount, net income available to common stockholders for the three months ended March 31, 2009 was $1,046,000. The net income of $1,253,000 for the three months ended March 31, 2009 also compares to net

income of $262,000 for the quarter ended December 31, 2008.

• Net interest income for the 2009 first quarter rose 21.0 % to $6,012,000 from $4,970,000 a year ago.

• Consolidated assets increased 21.1% to $865,383,000 at March 31, 2009 from $714,562,000 at March 31, 2008.

• Loans increased 13.4 % to $550,639,000 at March 31, 2009 from $485,774,000 at March 31, 2008.

• Deposits increased 23.8 % to $688,082,000 at March 31, 2009 from $555,591,000 at March 31, 2008.

• Net interest margin increased to 3.12% for the quarter ended March 31, 2009 and compares to 2.70% for the three months ended December 31, 2008.

• Noninterest income decreased slightly to $1,963,000 for the three months ended March 31, 2009 compared to $1,998,000 for the same period in 2008. Noninterest income for the first quarter 2008 included a distribution from Visa^® International’s initial public offering in the amount of $386,000 and as a member of Visa^®, we received the proceeds for the redemption of approximately 9,000 shares of Class B common stock.

• Noninterest expense increased 4.1% to $5,472,000 for the three months ended March 31, 2009 compared to $5,257,000 for the same period in 2008. While we continue to monitor our non-interest expenses closely as cost containment remains one of our principal goals, the increase in non-interest expense for the first quarter 2009 over the first quarter 2008 was almost entirely due to premium payments to the FDIC insurance fund.

• Cash dividend remained unchanged at $0.1825 per share for the quarter ended March 31, 2009 or $0.73 per share on an annualized basis.

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“We are pleased with our solid financial performance in the first quarter of 2009”, Arthur H. Keeney III, President and CEO stated. “At March 31, 2009, our non-performing loans to period-end loans decreased to 1.43% from the 1.85% reported at December 31, 2008 and the 2.27% reported at September 30, 2008. Management continues to expect minimal losses on these well-collateralized, non-performing loans. Our provision for loan losses totaled $750,000 for the quarter ended March 31, 2009 and compares to a provision of $1,110,000 for the quarter ended December 31, 2008 and $330,000 for the three months ended March 31, 2008.

“On January 16, 2009, we completed the issuance and sale of $17.9 million in senior cumulative preferred stock under the U.S. Treasury Department’s Capital Purchase Program (CPP). Although prior to that transaction our capital was well above the level at which banks and bank holding companies are classified as “well capitalized” under the capital adequacy guidelines of the FDIC and the Federal Reserve, respectively, we were encouraged to participate in this program intended for financially strong institutions.

“Our asset quality remains comfortably above peer average and our balance sheet and capital levels remain strong. Margins are improving and non-performing loans are decreasing. Costs are under control and liquidity is good. Earnings are improving and to date we have been able to maintain our dividend,” summarized Keeney. “We are very encouraged for what we see as a bright future for ECB Bancorp.”

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 24 offices covering eastern North Carolina from Currituck to Ocean Isle Beach and Greenville to Hatteras. 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. 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,

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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 pressures on the earnings, capital and liquidity of financial institutions in general, resulting from current and future conditions in the credit and equity markets, 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

ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Balance Sheets

March 31, 2009, December 31, 2008 and March 31, 2008

(Dollars in thousands, except per share data)

	March 31, 2009			December 31, 2008*			March 31, 2008
	(unaudited)						(unaudited)
Assets
Non-interest bearing deposits and cash	$	12,604		$	15,897		$	13,604
Interest bearing deposits		882			902			3,075
Overnight investments		1,430			—			7,150
Total cash and cash equivalents		14,916			16,799			23,829
Investment securities
Available-for-sale, at market value (cost of $244,872, $237,638 and $159,903 at March 31, 2009, December 31, 2008 and March 31, 2008, respectively)		247,663			239,709			160,874
Loans		550,639			538,836			485,774
Allowance for loan losses		(4,828	)		(5,931	)		(4,379	)
Loans, net		545,811			532,905			481,395
Real estate and repossessions acquired in settlement of loans, net		6,476			3,724			121
Federal Home Loan Bank common stock, at cost		5,431			3,859			4,309
Bank premises and equipment, net		25,482			25,737			24,916
Accrued interest receivable		4,527			4,663			4,522
Bank owned life insurance		8,429			8,347			8,119
Other assets		6,648			6,108			6,477
Total	$	865,383		$	841,851		$	714,562
Liabilities and Shareholders’ Equity
Deposits
Demand, noninterest bearing	$	84,180		$	90,197		$	90,026
Demand, interest bearing		106,678			99,011			99,841
Savings		17,216			16,882			18,478
Time		480,008			423,062			347,246
Total deposits		688,082			629,152			555,591
Payable, settlement for securities purchased		—			53,426			—
Accrued interest payable		2,023			2,889			2,956
Short-term borrowings		62,161			57,716			56,300
Long-term obligations		21,000			26,000			26,000
Other liabilities		5,192			4,725			5,917
Total liabilities		778,458			773,908			646,764
Shareholders’ equity
Preferred stock, Series A		17,258			—			—
Common stock, par value $3.50 per share		9,956			9,956			10,145
Capital surplus		25,636			25,707			26,849
Warrants		716			—			—
Retained earnings		31,663			31,026			30,227
Accumulated other comprehensive income (loss)		1,696			1,254			577
Total shareholders’ equity		86,925			67,943			67,798
Total	$	865,383		$	841,851		$	714,562
Common shares outstanding		2,844,489			2,844,489			2,909,699
Common shares authorized		10,000,000			10,000,000			10,000,000
Preferred shares outstanding		17,949			—			—
Preferred shares authorized		2,000,000			—			—

Derived from audited consolidated financial statements.

ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Income Statements

For three months ended March 31, 2009 and 2008

(Dollars in thousands, except per share data)

	Three months ended March 31,
	2009		2008
	(unaudited)		(unaudited)
Interest income:
Interest and fees on loans	$	7,347	$	7,957
Interest on investment securities:
Interest exempt from federal income taxes		319		334
Taxable interest income		2,530		1,259
Dividend income		30		64
Other Interest		3		70
Total interest income		10,229		9,684
Interest expense:
Deposits:
Demand accounts		186		296
Savings		11		23
Time		3,595		3,903
Short-term borrowings		196		443
Long-term obligations		199		49
Other interest		30		—
Total interest expense		4,217		4,714
Net interest income		6,012		4,970
Provision for loan losses		750		330
Net interest income after provision for loan losses		5,262		4,640
Noninterest income:
Service charges on deposit accounts		876		846
Other service charges and fees		267		269
Mortgage origination brokerage fees		291		307
Net gain on sale of securities		405		75
Income from bank owned life insurance		82		89
Other operating income		42		412
Total noninterest income		1,963		1,998
Noninterest expenses:
Salaries		2,069		2,036
Retirement and other employee benefits		751		832
Occupancy		480		452
Equipment		388		422
Professional fees		297		210
Supplies		56		82
Telephone		152		177
FDIC Insurance		255		76
Other operating expenses		1,024		970
Total noninterest expenses		5,472		5,257
Income before income taxes		1,753		1,381
Income taxes		500		335
Net Income		1,253		1,046
Preferred stock dividends		182		—
Accretion of discount		25		—
Income available to common shareholders	$	1,046	$	1,046
Net income per share – basic	$	0.37	$	0.36
Net income per share – diluted	$	0.37	$	0.36
Weighted average shares outstanding – basic		2,842,017		2,911,620
Weighted average shares outstanding – diluted		2,843,398		2,913,142

ECB Bancorp, Inc. Supplemental Quarterly Financial Data (unaudited)

(Dollars in thousands, except per share data)

	3/31/2009			12/31/2008			09/30/2008			06/30/2008			3/31/08
Income Statement Data:
Interest income	$	10,229		$	9,712		$	9,874		$	9,828		$	9,684
Interest expense		4,217			5,056			4,574			4,481			4,714
Net interest income		6,012			4,656			5,300			5,347			4,970
Provision for loan losses		750			1,110			440			570			330
Net after provision expense		5,262			3,546			4,860			4,777			4,640
Noninterest income		1,963			1,219			1,865			1,727			1,998
Noninterest expense		5,472			4,792			5,476			5,108			5,257
Income (loss) before income taxes		1,753			(27	)		1,249			1,396			1,381
Income taxes		500			(289	)		240			294			335
Net Income		1,253			262			1,009			1,102			1,046
Preferred stock dividend & accretion of discount		207			—			—			—			—
Net Income available to common shareholders	$	1,046		$	262		$	1,009		$	1,102		$	1,046
Per Share Data and Shares Outstanding:
Net income – basic	$	0.37		$	0.09		$	0.35		$	0.38		$	0.36
Net income – diluted		0.37			0.09			0.35			0.38			0.36
Cash dividends		0.1825			0.1825			0.1825			0.1825			0.1825
Book value at period end		30.56			23.89			22.88			22.43			23.30
Dividend payout ratio		49.32	%		202.78	%		52.14	%		48.03	%		50.69	%
Weighted-average number of common shares outstanding:
Basic		2,842,017			2,851,292			2,883,121			2,891,931			2,911,620
Diluted		2,843,398			2,857,712			2,888,466			2,897,399			2,913,142
Shares outstanding at period end		2,844,489			2,844,489			2,887,996			2,888,896			2,909,699
Balance Sheet Data:
Total assets	$	865,383		$	841,851		$	767,768		$	738,040		$	714,562
Loans - gross		550,639			538,836			524,337			516,492			485,774
Allowance for loan losses		4,828			5,931			5,077			4,739			4,379
Investment securities		247,663			239,709			154,077			157,589			160,874
Interest earning assets		806,045			783,306			704,524			679,708			661,182
Premises and equipment, net		25,482			5,737			25,250			25,143			24,916
Total deposits		688,082			629,152			619,019			578,273			555,591
Short-term borrowings		62,161			57,716			45,674			60,928			56,300
Long-term obligations		21,000			26,000			26,000			26,000			26,000
Shareholders’ equity		86,925			67,943			66,086			64,806			67,798
Selected Performance Ratios (annualized):
Return on average assets		0.58	%		0.14	%		0.54	%		0.61	%		0.62	%
Return on average shareholders’ equity		5.98	%		1.59	%		6.23	%		6.52	%		6.17	%
Net interest margin		3.12	%		2.70	%		3.14	%		3.33	%		3.37	%
Efficiency ratio		66.52	%		80.93	%		73.81	%		69.73	%		72.68	%
Asset Quality Ratios:
Nonperforming loans to period-end loans		1.43	%		1.85	%		2.27	%		0.12	%		0.27	%
Allowance for loan losses to period-end loans		0.88	%		1.10	%		0.97	%		0.92	%		0.90	%
Allowance for loan losses to nonperforming loans		61	%		59	%		43	%		752	%		336	%
Net charge-offs to average loans (annualized)		1.37	%		0.19	%		0.08	%		0.17	%		0.03	%
Capital Ratios:
Equity-to-assets ratio		10.04	%		8.07	%		8.61	%		8.78	%		9.49	%
Leverage Capital Ratio		9.87	%		8.65	%		9.00	%		9.28	%		10.02	%
Tier 1 Capital Ratio		13.54	%		10.83	%		11.31	%		11.52	%		12.07	%
Total Capital Ratio		14.31	%		11.80	%		12.16	%		12.33	%		12.86	%

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