ECB Bancorp, Inc. (Parent Company)

12 Months Ended

Dec. 31, 2011

ECB Bancorp, Inc. (Parent Company) [Abstract]

ECB Bancorp, Inc. (Parent Company)

16. ECB BANCORP, INC. (PARENT COMPANY)

ECB Bancorp, Inc.'s principal asset is its investment in the Bank, and its principal source of income is dividends from the Bank. The Parent Company condensed balance sheets as of December 31, 2011 and 2010, and the related condensed statements of income and cash flows for the years ended December 31, 2011, 2010, and 2009 are as follows:

CONDENSED BALANCE SHEETS

	2011		2010
	(Dollars in thousands)
Assets
Cash	$	—	$	—
Receivable from subsidiary		—		199
Investment in subsidiary		80,443		80,894
Total assets	$	80,443	$	81,093
Liabilities and Shareholders' Equity
Dividends payable	$	—	$	199
Total liabilities		—		199
Total shareholders' equity		80,443		80,894
Total liabilities and shareholders' equity	$	80,443	$	81,093

CONDENSED STATEMENTS OF INCOME (LOSS)

	2011			2010			2009
	(Dollars in thousands)
Dividends from bank subsidiary	$	1,438		$	1,695		$	2,823
Equity in undistributed income (losses) of subsidiary		(2,462	)		(835	)		(1,321	)
Net income (loss)	$	(1,024	)	$	860		$	1,502

CONDENSED STATEMENTS OF CASH FLOWS

	2011			2010			2009
	(Dollars in thousands)
OPERATING ACTIVITIES:
Net income (loss)	$	(1,024	)	$	860		$	1,502
Undistributed (income) losses of subsidiary		2,462			835			1,321
Net change in other assets & other liabilities		—			321			(1	)
Stock based compensation		21			36			85
Net cash provided by operating activities		1,459			2,052			2,907
INVESTING ACTIVITIES:
Payment for investments in subsidiary		(21	)		(17,927	)		(85	)
Net cash used by investing activities		(21	)		(17,927	)		(85	)
FINANCING ACTIVITIES:
Proceeds from issuance of common stock		—			19			23
Proceeds from issuance of preferred stock		—			—			17,850
Cash dividends paid		(1,438	)		(2,016	)		(2,823	)
Net cash provided (used) in financing activities		(1,438	)		(1,997	)		15,050
Net change in cash	$	(—	)	$	(17,872	)	$	17,872