EXHIBIT 99.1

FOR RELEASE: August 1, 2014

Lisa F. Campbell

Executive Vice President

Chief Accounting Officer

Office: 910-892-7080 and Direct: 910-897-3660

LisaC@SelectBank.com

SelectBank.com

SELECT BANCORP REPORTS SECOND QUARTER 2014 EARNINGS

OF THE FORMER NEW CENTURY BANCORP

Second quarter saw final merger preparation, a recovery on loan losses, and lower noninterest expenses.

DUNN, NC . . . Select Bancorp, Inc. (the “Company” NASDAQ: SLCT) reports net income for New Century Bancorp for the quarter ended June 30, 2014, of $613,000 and basic and diluted earnings per share of $0.09. For the same quarter in 2013, net income for New Century Bancorp was $1.26 million, and basic and diluted earnings per share were $0.18. For the six-month period ended June 30, 2014, net income for New Century was $885,000 compared to $2.1 million for the prior year period. Basic and fully diluted earnings per share for the six-month period ended June 30, 2014, were $0.13 and for the same period in 2013 were $0.30.

On July 25, 2014, New Century Bancorp acquired Select Bancorp, Inc. and assumed the name, Select Bancorp, Inc. on that date. The financial data reported here is solely the financial information of the entity formerly known as New Century Bancorp. Commencing in the third quarter of 2014, combined financial information of the former New Century and Select entities will be reported upon the July 25, 2014 closing of the merger.

Earnings for both the second quarter and for the six-month period ended June 30, 2014, for New Century Bancorp were impacted by expenses related to its acquisition of the former Greenville-based Select Bancorp, Inc. Total assets, deposits, and loans for New Century Bancorp as of June 30, 2014, were $508.3 million, $428.7 million, and $333.9 million, respectively.

After final approval by the shareholders of both companies and all federal and state regulatory agencies, the strategic merger, jointly announced on September 30, 2013, by New Century Bancorp and the former Greenville-based Select Bancorp, Inc. closed as of the close of business Friday, July 25, 2014.

“These positive earnings represent the final results we will report for the former New Century Bancorp,” said William L. Hedgepeth II, president and CEO of Select Bancorp, Inc. and Select Bank & Trust Company. “The decision was made early in the merger process to take the name Select Bancorp, Inc. for our holding company and Select Bank & Trust Company for our community bank franchise following the merger.

“Second quarter 2014 was primarily focused on the many decisions that had to be made to merge the two companies and the two banks. During the same time period, the Company benefited from a loan loss recovery and saw noninterest expenses trend down on a linked quarter basis.

“Now, in third quarter, we are moving forward as one community bank, ready to serve our customers, to gain new customer relationships, and to offer great service and common sense banking.”

- more -

Select Bancorp, Inc., headquartered in Dunn, North Carolina, is the holding company for Select Bank & Trust Company, a state chartered commercial bank insured by the Federal Deposit Insurance Corporation (FDIC). Select Bank & Trust Company has 14 branch offices in the following North Carolina communities: Burlington, Clinton, Dunn, Elizabeth City, Fayetteville (2), Gibsonville, Goldsboro, Greenville (2), Lillington, Lumberton, Raleigh and Washington. SelectBank.com.

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The information as of and for the quarter and six months ended June 30, 2014, as presented is unaudited. This news release contains 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, 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.

Select Bancorp, Inc. (formerly New Century Bancorp)

Selected Financial Information and Other Data

($ in thousands, except per share data)

	At or for the three months ended														At or for the six months ended
	June 30, 2014			March 31, 2014			December 31, 2013		September 30, 2013			June 30, 2013			June 30, 2014			June 30, 2013			June 30, 2012
Summary of Operations:
Total interest income	$	5,261		$	5,314		$	5,456	$	5,600		$	5,968		$	10,575		$	11,847		$	12,944
Total interest expense		1,098			1,111			1,186		1,299			1,355			2,209			2,773			3,457
Net interest income		4,163			4,203			4,270		4,301			4,613			8,366			9,074			9,487
Provision for (Recovery of) loan losses		(427	)		(49	)		280		(130	)		(375	)		(476	)		(475	)		(2,786	)
Net interest income after provision		4,590			4,252			3,990		4,431			4,988			8,842			9,549			12,273
Noninterest income		565			624			632		623			755			1,189			1,373			1,826
Noninterest expense		3,917			4,289			3,838		3,912			3,756			8,206			7,678			8,865
Merger-related expense		237			162			427		-			-			399			-			-
Income before income taxes		1,001			425			357		1,142			1,987			1,426			3,243			5,234
Provision for income taxes		388			153			118		493			728			541			1,192			1,964
Net income	$	613		$	272		$	239	$	649		$	1,259		$	885		$	2,051		$	3,270
Share and Per Share Data:
Earnings per share - basic	$	0.09		$	0.04		$	0.04	$	0.09		$	0.18		$	0.13		$	0.30		$	0.47
Earnings per share - diluted	$	0.09		$	0.04		$	0.04	$	0.09		$	0.18		$	0.13		$	0.30		$	0.47
Book value per share	$	8.30		$	8.17		$	8.09	$	8.09		$	8.00			8.30			8.01			7.66
Tangible book value per share	$	8.29		$	8.14		$	8.07	$	8.06		$	7.97			8.29			7.98			7.61
Ending shares outstanding		6,931,168			6,921,742			6,921,352		6,921,352			6,921,352			6,931,168			6,916,233			6,913,636
Weighted average shares outstanding:
Basic		6,923,640			6,921,561			6,921,352		6,921,352			6,921,352			6,922,651			6,916,233			6,913,636
Diluted		6,928,428			6,924,164			6,924,339		6,924,142			6,922,942			6,926,318			6,917,471			6,913,636
Selected Performance Ratios:
Return on average assets		0.48%			0.21%			0.18%		0.47%			0.91%			0.34%			0.73%			1.15%
Return on average equity		4.35%			1.94%			1.68%		4.61%			9.09%			3.13%			7.51%			12.76%
Net interest margin		3.62%			3.60%			3.41%		3.41%			3.61%			3.59%			3.49%			3.64%
Efficiency ratio (1)		82.85%			88.85%			78.29%		79.45%			69.97%			85.88%			73.50%			78.36%
Period End Balance Sheet Data:
Loans, held for sale	$	-		$	-		$	-	$	-		$	406		$	-		$	406		$	-
Loans, net of unearned income		333,868			345,827			346,500		349,087			355,651			333,868			355,245			390,403
Total earning assets		458,696			470,544			477,852		505,489			499,819			458,696			499,819			515,397
Core deposit intangible		124			153			182		211			240			124			240			356
Total assets		508,282			520,276			525,646		545,018			550,008			508,282			550,008			563,682
Deposits		428,734			441,298			448,458		459,811			465,489			428,734			465,489			471,184
Short term debt		7,179			7,625			6,305		14,207			13,858			7,179			13,858			22,953
Long term debt		12,372			12,372			12,372		12,372			12,372			12,372			12,372			12,372
Shareholders' equity		57,551			56,523			56,004		55,991			55,403			57,551			55,403			52,954
Selected Average Balances:
Gross loans	$	336,286		$	346,968		$	347,201	$	347,142		$	359,559		$	341,597		$	362,698		$	402,600
Total earning assets		465,901			473,136			496,698		500,079			512,953			469,498			525,024			524,732
Core deposit intangible		136			167			193		223			252			151			267			454
Total assets		514,539			520,746			538,616		548,460			557,298			517,384			567,141			574,232
Deposits		435,976			441,637			457,405		462,994			472,986			438,791			481,024			483,739
Short term debt		6,748			7,354			9,615		13,929			13,851			7,049			16,021			23,719
Long term debt		12,372			12,372			12,372		12,372			12,372			12,372			12,372			12,372
Shareholders' equity		57,158			56,780			56,456		55,911			55,529			56,970			55,211			51,541
Asset Quality Ratios:
Nonperforming loans	$	12,952		$	14,605		$	15,855	$	17,400		$	15,657		$	12,952		$	14,518		$	16,579
Other real estate owned		1,169			1,233			2,008		2,164			2,370			1,169			2,370			3,859
Allowance for loan losses		6,447			7,025			7,054		6,858			7,218			6,447			7,218			8,510
Nonperforming loans (2) to period-end loans (4)		3.88%			4.22%			4.58%		4.98%			4.40%			3.88%			4.09%			4.25%
Allowance for loan losses to period-end loans (4)		1.93%			2.03%			2.04%		1.96%			2.03%			1.93%			2.03%			2.18%
Delinquency ratio (3)		0.15%			0.21%			0.25%		0.16%			0.87%			0.15%			0.87%			0.77%
Net loan charge-offs (recoveries) to average loans		0.18%			-0.02%			0.10%		0.26%			0.20%			0.08%			0.11%			0.63%

(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.

(4) Excludes loans held for sale