DUNN — At the close of business on Friday, July 25, 2014, New Century Bancorp, Inc. completed its acquisition of Select Bancorp, Inc., and the two holding companies combined their respective banking subsidiaries, New Century Bank and Select Bank & Trust Company, as of the same date. As part of the merger, it was determined that New Century Bancorp and New Century Bank would take the Select Bancorp, Inc. and Select Bank & Trust Company names, respectively, and the name change became effective Monday, July 28, 2014.

“We believe we have brought together two companies with similar cultures and philosophies and, in so doing, have created an outstanding community banking franchise that will be an asset to the communities we serve and one which will benefit our employees, customers, and shareholders,” said William L. Hedgepeth II, president and chief executive officer of Select Bancorp, Inc. and Select Bank & Trust Company. “We are pleased to have achieved this milestone and are now able to move forward together. It is an exciting time.”

In connection with the change of the surviving company’s name, Select Bancorp, Inc. common stock will now be traded on the NASDAQ Global Market under the new stock ticker symbol SLCT (NASDAQ: SLCT).

The newly combined Select Bancorp, Inc. has total assets, deposits and loans of approximately $805.0 million, $667.0 million and $561.0 million, respectively.

Janney Montgomery Scott LLC served as financial advisor and Wyrick Robbins Yates & Ponton LLP served as legal counsel to New Century Bancorp, Inc. Smith Capital, Inc. served as financial advisor and Williams Mullen served as legal counsel to Select Bancorp, Inc.