ECB Bancorp Inc. reported its financial results for the three and six months ended June 30.
For the three months ended June 30, net income totaled $588,000 compared to net income of $1,145,000 for the three months ended June 30, 2011. After adjustments for $266,000 in TARP preferred stock dividends and the accretion of warrant discount, net income available to common shareholders for the three months ended June 30 was $322,000 or $0.11 per diluted share compared to net income of $880,000 or $0.31 per diluted share for the three months ended June 30, 2011. For the six months ended June 30, net income totaled $965,000 compared to $61,000 for the six months ended June 30, 2011. Income available to common shareholders was $434,000 or $0.15 per diluted share compared to a net loss of ($469,000) or ($0.16) per share for the six months ended June 30, 2011.