EXHIBIT 99.1

FOR RELEASE: February 15, 2013

Lisa F. Campbell, Executive Vice President

Chief Operating Officer and Chief Financial Officer

Office: (910) 892-7080 - Direct: 910-897-3660

lisac@newcenturybanknc.com

NewCenturyBankNC.com

NEW CENTURY BANCORP REPORTS

FOURTH QUARTER AND YEAR-END 2012 RESULTS

Positive year, fueled by both core earnings and non-recurring gains, is capped by strong fourth quarter earnings.

DUNN, NC . . . New Century Bancorp, Inc. (the “Company” NASDAQ: NCBC), the holding company for New Century Bank, today reported net income of $4.6 million for the year ended December 31, 2012, and basic and diluted earnings per share of $0.67. These results compare to a net loss of $163,000 and basic and diluted losses per share of $0.02 for the year ended December 31, 2011. For the quarter ended December 31, 2012, the Company reported net income of $735,000 and basic and diluted income per share of $0.11, compared to net income of $632,000 and basic and diluted income per share of $0.09 for fourth quarter 2011.

Net income for 2012 was positively impacted by two non-recurring events: a $2.4 million loan recovery in the first quarter and a $557,000 gain on the sale of New Century Bank’s Pembroke and Raeford branches in the second quarter.

In a year-to-year comparison, non-performing assets are down from $22.7 million to $14.9 million, resulting in overall improvement in asset quality. At year-end, the Company remains well-capitalized, which is the highest capital category based on regulatory guidelines.

Total assets for the Company as of December 31, 2012, were $588.2 million, total deposits were $498.6 million, and total loans were $367.9 million, compared to total assets of $589.7 million, total deposits of $501.4 million, and total loans of $417.6 million as of the same date in 2011. The decline in deposits and loans in a year-to-year comparison is due in part to the sale of the Pembroke and Raeford offices to Lumbee Guaranty Bank during second quarter 2012, and to a generally soft regional economy.

“On behalf of our board of directors and our staff,” said William L. Hedgepeth, president and CEO of New Century Bancorp and New Century Bank, “We are pleased with our results of operations in 2012. While overall results were positively impacted by non-recurring events, results from core operations were strong on their own.

“There are still challenges ahead for our bank and for the banking industry as a whole. The biggest challenge is continuing soft loan demand and a low interest rate environment that results in a tight net interest margin. In addition, the cost of complying with new legislation and the resultant regulatory requirements is steep. While the economy is showing signs of recovery, it is still struggling, and to a great extent remains a jobless recovery. Many of our customers—both personal and business—are working hard to gain financial ground lost over the past few years. Our role is to stand with them and do all we can to help.

-continued-

“In 2013, we will launch a number of strategic initiatives and will introduce several new products and services,” Hedgepeth continued. “We feel strongly about the markets we serve and our ability to meet their banking needs. We appreciate the support of our shareholders and our customers.”

New Century Bank has branch offices in these North Carolina communities: Dunn, Clinton, Fayetteville, Goldsboro, Lillington, Lumberton, and loan production offices in Greenville and Raleigh.

###

The information as of and for the quarter and year ended December 31, 2012, as presented is unaudited. This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of our goals and expectations with respect to earnings, earnings per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook” or similar expressions. The actual results might differ materially from those projected in the forward-looking statements for various reasons, including, but not limited to, our ability to manage growth, our limited operating history, substantial changes in financial markets, regulatory changes, changes in interest rates, loss of deposits and loan demand to other savings and financial institutions, and changes in real estate values and the real estate market. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company’s SEC filings, including its periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from the Company.

New Century Bancorp, Inc.

Selected Financial Information and Other Data

($ in thousands, except per share data)

	At or for the three months ended															At or for the year ended
		December 31, 2012			September 30, 2012			June 30, 2012			March 31, 2012			December 31, 2011			December 31, 2012			December 31, 2011			December 31, 2010
Summary of Operations:
Total interest income	$	5,990		$	6,198		$	6,325		$	6,619		$	7,086		$	25,132		$	30,383		$	33,610
Total interest expense		1,552			1,623			1,684			1,772			1,903			6,632			8,425			9,680
Net interest income		4,438			4,575			4,641			4,847			5,183			18,500			21,958			23,930
Provision for loan losses		-			189			(649	)		(2,136	)		319			(2,597	)		6,218			15,634
Net interest income after provision		4,438			4,386			5,290			6,983			4,864			21,097			15,740			8,296
Noninterest income		1,015			757			1,199			626			642			3,598			2,817			2,678
Noninterest expense		4,201			4,170			4,648			4,216			4,574			17,236			19,105			19,213
Income (loss) before income taxes		1,252			973			1,841			3,393			932			7,459			(548	)		(8,239	)
Provision for income taxes (benefit)		517			341			683			1,281			333			2,822			(385	)		(3,284	)
Net income (loss)	$	735		$	632		$	1,158		$	2,112		$	599		$	4,637		$	(163	)	$	(4,955	)
Share and Per Share Data:
Earnings (loss) per share - basic	$	0.11		$	0.09		$	0.17		$	0.31		$	0.09		$	0.67		$	(0.02	)	$	(0.72	)
Earnings (loss) per share - diluted	$	0.11		$	0.09		$	0.17		$	0.31		$	0.03		$	0.67		$	(0.02	)	$	(0.72	)
Book value per share		7.84			7.76			7.66			7.49			7.22			7.84			7.22			7.19
Tangible book value per share		7.79			7.72			7.61			7.41			7.14			7.79			7.14			7.09
Ending shares outstanding		6,913,636			6,913,636			6,913,636			6,913,636			6,860,367			6,913,636			6,860,367			6,913,636
Weighted average shares outstanding:
Basic		6,913,636			6,913,636			6,913,636			6,859,196			6,860,367			6,898,147			6,887,168			6,875,845
Diluted		6,914,345			6,914,085			6,913,636			6,859,196			6,860,367			6,898,377			6,887,168			6,875,845
Selected Performance Ratios:
Return on average assets		0.50	%		0.44	%		0.83	%		1.45	%		0.39	%		0.81	%		-0.03	%		-0.77	%
Return on average equity		5.37	%		4.69	%		8.82	%		16.89	%		4.80	%		8.79	%		-0.33	%		-9.05	%
Net interest margin		3.29	%		3.51	%		3.63	%		3.64	%		3.68	%		3.48	%		3.91	%		4.03	%
Efficiency ratio(1)		77.04	%		78.21	%		79.59	%		77.03	%		78.52	%		78.00	%		77.10	%		72.71	%
Period End Balance Sheet Data:
Loans, held for sale	$	-		$	-		$	-		$	1,552		$	-		$	-		$	-		$	-
Loans, net of unearned income		367,892			386,096			390,403			399,760			417,624			367,892			417,624			470,484
Total Earning Assets		549,493			514,767			515,397			534,057			536,390			549,493			536,390			580,169
Core Deposit Intangible		298			327			356			516			545			298			545			699
Total Assets		588,237			577,833			563,682			580,996			589,651			588,237			589,651			626,896
Deposits		498,559			481,320			471,184			489,966			501,377			498,559			501,377			534,599
Short term debt		17,848			26,195			22,953			23,301			21,877			17,848			21,877			23,666
Long term debt		12,372			12,372			12,372			12,372			14,372			12,372			14,372			16,372
Shareholders' equity		54,179			53,671			52,954			51,777			49,546			54,179			49,546			49,692
Selected Average Balances:
Gross Loans	$	375,413		$	386,217		$	396,190		$	409,009		$	429,642		$	391,648		$	451,358		$	484,647
Total Earning Assets		536,428			518,761			514,147			535,317			559,110			532,193			565,867			599,152
Core Deposit Intangible		310			339			379			533			569			389			621			775
Total Assets		581,005			569,048			563,850			585,249			608,118			574,624			624,015			644,904
Deposits		485,844			474,069			471,829			495,649			518,508			481,837			533,000			548,768
Short term debt		23,961			24,609			22,961			23,004			23,476			24,003			21,924			23,146
Long term debt		12,372			12,372			12,372			13,845			14,372			12,372			16,372			16,372
Shareholders' equity		54,352			53,619			52,783			50,300			49,486			52,769			50,094			54,750
Asset Quality Ratios:
Nonperforming loans	$	12,030		$	18,613		$	16,579		$	19,270		$	19,636		$	12,030		$	19,636		$	12,250
Other real estate owned		2,833			2,849			3,859			2,391			3,031			2,833			3,031			3,655
Allowance for loan losses		7,897			8,588			8,510			9,568			10,034			7,897			10,034			10,015
Nonperforming loans(2) to period-end loans		3.27	%		4.82	%		4.25	%		4.82	%		4.70	%		3.27	%		4.70	%		2.60	%
Allowance for loan losses to period-end loans		2.15	%		2.22	%		2.18	%		2.39	%		2.40	%		2.15	%		2.40	%		2.13	%
Delinquency Ratio(3)		0.32	%		0.47	%		0.77	%		0.23	%		1.02	%		0.32	%		1.02	%		0.45	%
Net loan charge-offs to average loans		-0.85	%		-0.42	%		-0.42	%		-1.64	%		0.68	%		-0.12	%		1.37	%		3.30	%

(1) Efficiency ratio is calculated as non-interest expenses divided by the sum of net interest income and non-interest income.

(2) Nonperforming loans consist of non-accrual loans and restructured loans.

(3) Delinquency Ratio includes 30-89 days past due and excludes non-accrual loans.