DUNN, N.C., Nov. 1 /PRNewswire-FirstCall/ -- New Century Bancorp, Inc. (the "Company") (NASDAQ:NCBC), the holding company for New Century Bank and New Century Bank of Fayetteville, reported net income for the quarter ended September 30, 2005 of $812,000 compared to $661,000 for the same period in 2004. Basic and diluted earnings per share for third quarter 2005 were $0.19 and $0.18, respectively, compared to basic and diluted earnings per share for third quarter 2004 of $0.16 and $0.15, respectively. For the nine months period ended September 30, 2005, net income for the Company was $2.6 million, compared to $1.2 million for the same period in 2004, an increase of 117%. Basic and diluted earnings per share for the first nine months of 2005 were $0.62 and $ $0.58, respectively, compared to basic and diluted earnings per share for the first nine months of 2004 of $0.28 and $0.27, respectively. As of September 30, 2005, the Company reported total assets of $401.5 million compared to $324.1 million at September 30, 2004, an increase of 24%. Total deposits were $336.2 million and total loans were $320.7 million at the end of third quarter 2005, compared to total deposits of $267.0 million and total loans of $251.2 million as of the end of third quarter 2004, increases of 26% and 28%, respectively. "The management team and our Board of Directors are pleased with New Century Bancorp's financial results in 2005," said John Q. Shaw, president and CEO of the Company. "Increases in net income are a result of earning assets that grew substantially over the past year, and continue to grow at a steady rate. Positive growth in noninterest income resulted from mortgage and SBA lending activities, as it has for most of 2005. "During the third quarter we expanded our facilities by leasing a new Operations Center in downtown Dunn and completing a new banking office in Goldsboro. We look forward to the opportunities that these new facilities will provide as we strive to serve our customers in all of our markets." New Century Bank has offices in Dunn, NC, Clinton, NC, and Goldsboro, NC and New Century Bank of Fayetteville serves Fayetteville through a new headquarters and banking office at 2818 Raeford Road in Fayetteville, NC. http://www.newcenturybanknc.com/ The information as of and for the quarter and nine months ended September 30, 2005 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, 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. DATASOURCE: New Century Bancorp CONTACT: Lisa F. Campbell, Executive Vice President and CFO of New Century Bancorp, Inc., +1-910-892-7080, or Web site: http://www.newcenturybanknc.com/

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