Exhibit 99.1

April 30, 2012

CONTACT:	ECB Bancorp, Inc.
	Thomas M. Crowder, Chief Financial Officer (252) 925-5520 (252) 925-8491 facsimile

FOR IMMEDIATE RELEASE

ECB Bancorp, Inc. Reports 2012 First Quarter Results

ENGELHARD, N.C.-ECB Bancorp, Inc. (NYSE-Amex:ECBE) (“ECB” or the “Company”) today reported its financial results for the three months ended March 31, 2012.

2012 First Quarter Financial Highlights

For the three months ended March 31, 2012, net income totaled $377,000 compared to a net loss of ($1,084,000) for the three months ended March 31, 2011. After adjusting for $265,000 in TARP preferred stock dividends and the accretion of warrant discount, net income available to common shareholders for the three months ended March 31, 2012 was $112,000 or $0.04 per diluted share compared to a loss of ($1,349,000) or ($0.47) per diluted share for the three months ended March 31, 2011.

Other Financial Highlights include:

• Consolidated assets remained relatively flat at $916,274,000 at March 31, 2012 versus $916,571,000 at March 31, 2011.

• Loans decreased (10.1%) to $491,383,000 at March 31, 2012 compared to $546,641,000 at March 31, 2011.

• Deposits decreased (1.8%) to $772,597,000 at March 31, 2012 from $786,754,000 at March 31, 2011.

• Net interest income decreased (3.5%) to $6,528,000 for the three months ended March 31, 2012 from $6,768,000 for the same three-month period a year ago.

• There was no provision for loan losses charged to operations for the three months ended March 31, 2012 compared to $3,930,000 for same period last year. Our allowance modeling indicates that no additional provision was necessary, primarily due to the decrease in total loans outstanding, reduced charge-off levels, and adjustments for loan loss migrations within the portfolio as previously announced. For the quarter ended March 31, 2012, net charge-offs totaled $706,000 or .57% annualized of average loans, down (64%) compared to first quarter 2011, which totaled $1,958,503 in net charge-offs representing 1.4% annualized of average loans.

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A. Dwight Utz, President and Chief Executive Officer, stated: “We are beginning to experience more stability in our loan portfolio both with total outstanding loans and what we project related to loan charge-offs. Our net interest margin (NIM) rebounded from 3.10% averaged in 4^th quarter 2011 to 3.22% for first quarter 2012. This growth in net interest margin is primarily a result of a decrease in our cost of funds. It should be noted we absorbed approximately $174,000 of one-time expenses in the first quarter related to the termination of the private placement offering and acquisition of branches as previously announced in first quarter”.

Thomas M. Crowder, Executive Vice President and Chief Financial Officer stated: “We believe we have positioned our balance sheet to grow our NIM in 2012 based on twelve more months of low interest rates as announced by the Federal Reserve earlier this year. The continuation of this environment should result in a further reduction in our cost of funds and combined with a higher yield from our investment portfolio through a slight increase in our investment portfolio duration, should result in a further increase in our net interest margin.”

Mr. Utz concluded, “We believe, compared to other community banks in North Carolina, ECB is positioned to capitalize upon opportunities that become available based upon improving trends in the economy. Our Board of Directors and leadership team look forward to returning to a more normalized earnings environment in 2012 and all remain confident in the long-term success of ECB to create value for our shareholders. We remain committed to our overarching goal and our vision, which is “We design financial roadmaps that substantively enrich and simplify lives.”

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 25 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 NYSE-Amex Market under the symbol “ECBE”. More information can be obtained by visiting ECB’s web site at www.myecb.com.

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“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 2011 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”, “feels”, “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 and Board of Directors about future events. Factors that could influence the accuracy of such forward-looking statements include, but are not limited to: pressures on the Company’s earnings, capital and liquidity 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 or changes in laws, regulations or accounting standards that adversely affect our business; changes in the interest rate environment and the level of market interest rates that reduce our net interest margins and/or the values of loans we make and securities we hold; 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; continued or unexpected increases in credit losses in the Company’s loan portfolio; continued adverse economic conditions and real estate values in our banking market (particularly as those conditions affect our loan portfolio, the abilities of our borrowers to repay their loans, and the values of loan collateral); and other developments or changes in our business that we do not expect. 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 obligation, 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, 2012, December 31, 2011 and March 31, 2011

(Dollars in thousands, except per share data)

	March 31,			December 31,			March 31,
	2012			2011*			2011
	(unaudited)						(unaudited)
Assets
Non-interest bearing deposits and cash	$	11,959		$	18,363		$	10,176
Interest bearing deposits		61			63			30
Overnight investments		50			6,305			—
Total cash and cash equivalents		12,070			24,731			10,206
Investment securities
Available-for-sale, at market value (cost of $347,116 and $338,685 at March 31, 2011 and December 31, 2011, respectively)		348,810			339,450			304,975
Loans held for sale		3,310			2,866			623
Loans		491,383			496,542			546,641
Allowance for loan losses		(11,385	)		(12,092	)		(15,219	)
Loans, net		479,998			484,450			531,422
Real estate and repossessions acquired in settlement of loans, net		7,906			6,573			7,258
Federal Home Loan Bank common stock, at cost		4,279			3,456			4,571
Bank premises and equipment, net		26,286			26,289			26,716
Accrued interest receivable		4,984			5,308			4,808
Bank owned life insurance		11,879			11,778			9,028
Other assets		16,752			16,376			16,964
Total	$	916,274		$	921,277		$	916,571
Liabilities and Shareholders’ Equity
Deposits
Demand, noninterest bearing	$	134,828		$	135,732		$	106,898
Demand, interest bearing		277,520			270,119			251,474
Savings		57,656			55,517			36,314
Time		302,593			336,277			392,068
Total deposits		772,597			797,645			786,754
Accrued interest payable		457			519			639
Short-term borrowings		39,218			11,679			17,421
Long-term obligations		18,000			25,500			27,500
Other liabilities		4,834			5,491			5,044
Total liabilities		835,106			840,834			837,358
Shareholders’ equity
Preferred stock, Series A		17,495			17,454			17,329
Common stock, par value $3.50 per share		9,974			9,974			9,974
Capital surplus		25,875			25,873			25,858
Warrant		878			878			878
Retained earnings		26,038			25,926			27,006
Accumulated other comprehensive income (loss)		908			338			(1,832	)
Total shareholders’ equity		81,168			80,443			79,213
Total	$	916,274		$	921,277		$	916,571
Common shares outstanding		2,849,841			2,849,841			2,849,841
Common shares authorized		50,000,000			50,000,000			10,000,000
Preferred shares outstanding		17,949			17,949			17,949
Preferred shares authorized		2,000,000			2,000,000			2,000,000
Non-voting common shares authorized		2,000,000			2,000,000			—

* Derived from audited consolidated financial statements.

ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Results of Operation

For the three months ended March 31, 2012 and 2011

(Dollars in thousands, except per share data)

	Three months ended
	March 31,
	2012			2011
	(unaudited)			(unaudited)
Interest income:
Interest and fees on loans	$	6,369		$	7,357
Interest on investment securities:
Interest exempt from federal income taxes		235			128
Taxable interest income		1,882			1,937
Dividend income		11			9
Other interest income		2			7
Total interest income		8,499			9,438
Interest expense:
Deposits:
Demand accounts		406			557
Savings		95			53
Time		1,270			1,811
Short-term borrowings		81			69
Long-term obligations		119			180
Total interest expense		1,971			2,670
Net interest income		6,528			6,768
Provision for loan losses		—			3,930
Net interest income after provision for loan losses		6,528			2,838
Noninterest income:
Service charges on deposit accounts		857			765
Other service charges and fees		329			244
Mortgage origination fees		406			326
Net gain on sale of securities		45			26
Income from bank owned life insurance		101			74
Other operating income		1			(4	)
Total noninterest income		1,739			1,431
Noninterest expenses:
Salaries		2,919			2,564
Retirement and other employee benefits		1,103			676
Occupancy		530			483
Equipment		590			559
Professional fees		219			271
Supplies		74			51
Communications/Data lines		198			169
FDIC insurance		204			326
Data processing and related expenses		396			70
Net cost of real estate and repossesions acquired in settlement of loans		684			18
Other outside services		100			181
Other operating expenses		901			876
Total noninterest expenses		7,918			6,244
Income (loss) before income taxes		349			(1,975	)
Income tax benefit		(28	)		(891	)
Net income (loss)		377			(1,084	)
Preferred stock dividends		224			224
Accretion of discount		41			41
Income (loss) available to common shareholders	$	112		($	1,349	)
Net income (loss) per share - basic	$	0.04		($	0.47	)
Net income (loss) per share - diluted	$	0.04		($	0.47	)
Weighted average shares outstanding - basic		2,849,841			2,849,841
Weighted average shares outstanding - diluted		2,849,841			2,849,841

ECB Bancorp, Inc.

Supplemental Quarterly Financial Data (Unaudited)

(Dollars in thousands, except per share data)

	3/31/2012			12/31/2011			9/30/2011			6/30/2011			3/31/2011
Income Statement Data:
Interest income	$	8,499		$	8,818		$	9,189		$	9,632		$	9,438
Interest expense		1,971			2,283			2,566			2,587			2,670
Net interest income		6,528			6,535			6,623			7,045			6,768
Provision for loan losses		—			2,252			1,028			1,273			3,930
Net after provision expense		6,528			4,283			5,595			5,772			2,838
Noninterest income		1,739			2,262			2,568			2,539			1,431
Noninterest expense		7,918			9,416			7,539			6,657			6,244
Income (loss) before income taxes		349			(2,871	)		624			1,654			(1,975	)
Income tax expense (benefit)		(28	)		(1,259	)		97			509			(891	)
Net income (loss)		377			(1,612	)		527			1,145			(1,084	)
Preferred stock dividend & accretion of discount		265			266			267			265			265
Net income (loss) available to common shareholders	$	112		$	(1,878	)	$	260		$	880		$	(1,349	)
Per Share Data and Shares Outstanding:
Net income (loss) - basic	$	0.04		$	(0.66	)	$	0.09		$	0.31		$	(0.47	)
Net income (loss) - diluted		0.04			(0.66	)		0.09			0.31			(0.47	)
Cash dividends		—			0.05			—			0.07			0.07
Book value at period end		22.34			22.10			23.10			22.79			21.71
Dividend payout ratio		0.00	%		-7.58	%		0.00	%		22.58	%		-14.89	%
Weighted-average number of common shares outstanding:
Basic		2,849,841			2,849,841			2,849,841			2,849,841			2,849,841
Diluted		2,849,841			2,849,841			2,849,841			2,849,841			2,849,841
Shares outstanding at period end		2,849,841			2,849,841			2,849,841			2,849,841			2,849,841
Balance Sheet Data:
Total assets	$	916,274		$	921,277		$	923,695		$	941,463		$	916,571
Loans - gross		491,383			496,542			521,626			542,687			546,641
Allowance for loan losses		11,385			12,092			12,214			15,448			15,219
Investment securities		348,810			339,450			327,066			298,116			304,975
Interest earning assets		847,893			848,682			858,914			880,814			856,840
Premises and equipment, net		26,286			26,289			26,137			26,740			26,716
Total deposits		772,597			797,645			796,609			812,774			786,754
Short-term borrowings		39,218			11,679			13,528			13,711			17,421
Long-term obligations		18,000			25,500			25,500			27,500			27,500
Shareholders’ equity		81,168			80,443			83,248			82,320			79,213
Selected Performance Ratios (annualized):
Return on average assets		0.16	%		-0.70	%		0.22	%		0.49	%		-0.48	%
Return on average shareholders’ equity		1.86	%		-7.85	%		2.56	%		5.71	%		-5.38	%
Net interest margin		3.22	%		3.10	%		3.06	%		3.35	%		3.30	%
Efficiency ratio		93.4	%		105.3	%		81.0	%		68.6	%		75.0	%
Asset Quality Ratios:
Non accruing loans to period-end loans		3.82	%		3.08	%		3.98	%		3.37	%		3.07	%
Performing TDR’s loans to period-end loans		2.34	%		2.07	%		1.51	%		1.27	%		0.97	%
Total Non performing loans to period-end loans		6.17	%		5.15	%		5.49	%		4.65	%		4.04	%
Allowance for loan losses to period-end loans		2.32	%		2.44	%		2.34	%		2.85	%		2.78	%
Allowance for loan losses to nonperforming loans		37.6	%		47.3	%		42.7	%		61.3	%		68.9	%
Net charge-offs to average loans (annualized)		0.57	%		1.85	%		3.18	%		0.77	%		1.40	%
Capital Ratios:
Tangible equity to total assets		6.95	%		6.84	%		7.13	%		6.90	%		6.75	%
Equity-to-assets ratio		8.86	%		8.73	%		9.01	%		8.74	%		8.64	%
Leverage Capital Ratio		8.23	%		8.25	%		8.34	%		8.39	%		8.42	%
Tier 1 Capital Ratio		12.39	%		12.59	%		12.59	%		12.20	%		11.97	%
Total Capital Ratio		13.65	%		13.85	%		13.85	%		13.46	%		13.24	%