DUNN, N.C., April 4, 2008 /PRNewswire-FirstCall/ -- Following the
recent merger of New Century Bank South into New Century Bank, the
holding company, New Century Bancorp (Nasdaq: NCBC - the "Company")
announced a new board of directors and a newly elected chairman,
according to William H. Hedgepeth II, president and CEO of both New
Century Bancorp and New Century Bank. J. Gary Ciccone is chairman
of the board, and former chairman, C. L. "Bozie" Tart, who served
as chairman since the Company's inception in 2000, will serve as
vice-chairman. Tart is chief executive officer and chairman of the
board for Tart & Tart, Inc. in Dunn, NC. On his years serving
as chairman for New Century Bancorp, Tart shared, "Twenty-four of
us got together eight years ago to start a community bank in Dunn.
I was honored they asked me to be chairman of the new bank and have
enjoyed serving the bank and the community. The bank did well,
quickly surpassing all of the goals that we had established. Most
importantly, I believe the bank serves our communities and offers
the level of service we set out to offer -- a level of service our
neighbors deserve from a community bank. I look forward to
continuing to serve on the board, and at the same time, to having
more time to spend with my family and my company." A native of
Dunn, NC, Ciccone, a partner at Nimocks, Ciccone, & Townsend in
Fayetteville, NC, has been a member of the New Century Bancorp
board since 2003 and was chairman of the board of the former New
Century Bank South. On his election to the chairmanship of New
Century Bancorp, Ciccone said, "On behalf of the board, I wish to
express appreciation to Bozie for his dedication and service over
the past eight years. Under his leadership, New Century has grown
from an idea to a Company of nearly $600 million in assets. We are
grateful to Bozie and look forward to his continued leadership for
years to come. "I believe the future is bright for New Century. We
have a strong team in place and there is tremendous potential in
the markets we serve. Our plan is for New Century to be the bank
that best understands and serves eastern North Carolina." Other
members of the board include the following business and civic
leaders, all of whom have served on the boards of New Century
Bancorp, New Century Bank, and/or New Century Bank South: -- T.
Dixon Dickens, President, Mercedes-Benz of Fayetteville,
Fayetteville, NC -- T. C. Godwin, Jr., President, T-Mart Food
Stores, Inc., Dunn, NC -- Oscar N. Harris, CPA, Senior Partner and
President, Oscar N. Harris & Associates, Dunn, NC -- Gerald W.
Hayes, Attorney, President, Hayes, Williams, Turner & Daughtry,
Dunn, NC -- William L. Hedgepeth II, President and CEO, New Century
Bancorp and New Century Bank, Dunn, NC -- D. Ralph Huff III,
President, H&H Constuctors, Fayetteville, NC -- John W.
McCauley, CEO, Highland Paving Co.; Vice-President, McCauley-
McDonald Investments; Fayetteville, NC -- Carlie C. McLamb,
President, Carlie C's IGA and Carlie C's Operation, Dunn, NC --
Michael S. McLamb, CPA, Retired Treasurer, K&M Maintenance
Services, Inc., Dunn, NC -- Raymond L. Mulkey, Jr., President, Ray
Mulkey Insurance, Inc. and Ray Mulkey Realty, Inc., Dunn, NC --
Senator Anthony E. "Tony" Rand, North Carolina Senate Majority
Leader, President, Rand & Gregory, P.A., Fayetteville, NC --
James H. Smith, Partner, Southeastern Insurance Services; Partner,
Highland Development Partners, LLC, Fayetteville, NC -- Lyndo W.
Tippett, Secretary, North Carolina Department of Transportation;
Partner, Tippett, Padrick, & Bryan, Fayetteville, NC "We are
honored to have the guidance and commitment of these leaders as we
work toward achieving our goals," said Hedgepeth. "I look forward
to working with them and feel confident this team will help us
reach, and even exceed, the high standards we have set for the
Company." New Century Bancorp reported total assets of $591.0
million as of December 31, 2007. New Century Bank is headquartered
in Dunn and has offices in Dunn, Clinton (2), Goldsboro, and
Lillington. New Century Bank South, a division of New Century Bank,
is headquartered in Fayetteville and has offices in Fayetteville
(2), Lumberton, Pembroke, and Raeford. Stock Symbol: NASDAQ: NCBC
http://www.newcenturybanknc.com/ The information as of and for the
quarter ended December 31, 2007, 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: William H. Hedgepeth II,
President and Chief Executive Officer, , or Lisa F. Campbell, Chief
Operating Officer and Chief Financial Officer, , both of New
Century Bancorp, +1-910-892-7080 Web site:
http://www.newcenturybanknc.com/
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