Exhibit 99.1

April 2, 2012

FOR IMMEDIATE RELEASE

ECB Bancorp, Inc. Reports 2011 Annual and Fourth Quarter Results

ENGELHARD, N.C.-ECB Bancorp, Inc. (NYSE-AMEX:ECBE) (“ECB” or the “Company”) today announced its results for the twelve months and three months ended December 31, 2011.

2011 Annual and Fourth Quarter Financial Highlights

For the twelve months ended December 31, 2011, net income was a loss of ($1,024,000), a decrease of (219%) compared to net income for the twelve months ended December 31, 2010 of $860,000. After adjusting for $1,063,000 in preferred stock dividends and accretion of warrant discount, the net loss attributable to common shareholders for the twelve months ended December 31, 2011 was ($2,087,000) or ($0.73) per diluted share compared to a net loss of ($203,000) or ($0.07) per diluted share for the year 2010. The 2011 loss attributable to common shareholders represents a higher loss than was reported in 2010 primarily due to a decrease in net gains on sales of securities, fees incurred in connection with the terminated private placement offering and increased data processing fees. As we previously reported in February 2012, ECB mutually agreed to terminate its announced private placement of $79.7 million in common equity. This action resulted in the recognition in 2011 of certain costs and expenses related to the capital raise that totaled $1.7 million in the aggregate. This expense contributed significantly to the annual and three months reported loss ended December 31, 2011.

For the three months ended December 31, 2011, the net loss totaled ($1,612,000), or a (43.4%) increase in net loss from the ($1,124,000) in net loss for the three months ended December 31, 2010. After adjusting for $266,000 in preferred stock dividends and the accretion of warrant discount, the net loss charged to common shareholders for the three months ended December 31, 2011 was ($1,878,000) or ($0.66) per diluted share, an increase in net loss of (35.1%) compared to the loss of ($1,390,000) or ($0.49) per diluted share for the three months ended December 31, 2010.

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Other Financial Highlights include:

Dwight Utz, President and Chief Executive Officer, stated: “2011 was an important year in implementing some key structural changes to our organization. We completed the conversion of our core operating system, expanded our Enterprise Risk function, enhanced our loan loss modeling process and established a Customer Care Center to enhance our overall customer service contact points. Our Board of Directors and leadership team were disappointed that our efforts to enhance the Bank’s capital position through an agreed upon private placement of $79.7 million in common equity was unsuccessful because

the regulatory approvals required to complete the private placement offering had not been received by all of the investors as of the termination date. As you know this also resulted in the termination of our acquisition of all deposits and selected assets associated with seven Gateway branches, predominately in the Raleigh/Chapel Hill MSA.”

Mr. Utz concluded: “With these issues addressed early this year, we expect 2012 to be a transitional year for ECB as we continue to build on our improved banking platform and look forward to the return of more normalized earnings and credit quality. It is important to confirm that our Company is well capitalized. Our Board of Directors and leadership team remain committed to the long-term success of our Company.”

Thomas M. Crowder, Executive Vice President and Chief Financial Officer, stated: “We expect rates to continue to remain low for the rest of 2012 and continue to see our cost of funding decline as we move through the first half of 2012. This should assist us in continuing to expand our Net Interest Margin to more normal levels in 2012.”

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About ECB Bancorp, Inc.

ECB Bancorp, Inc. is a bank holding company, headquartered in Engelhard, North Carolina, whose wholly-owned subsidiary, The East Carolina Bank, is a state-chartered, independent community bank insured by the FDIC. The Bank provides a full range of financial services through its 25 offices covering eastern North Carolina from Currituck to Ocean Isle Beach and Greenville to Hatteras. The Bank also provides mortgages, insurance services through the Bank’s licensed agents, and investment and brokerage services offered through a third-party broker-dealer. The Company’s common stock is listed on NYSE-Amex under the symbol “ECBE”. More information can be obtained by visiting ECB's web site at www.myecb.com.

“Safe Harbor Statement” Under the Private Securities Litigation Reform Act of 1995

Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, expectations or beliefs about future events or results, and other statements that are not descriptions of historical facts, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s Annual Report on Form 10-K and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “feels”, “believes”, “estimates”, “predicts”, “forecasts”, “potential” or “continue”, or similar terms or the negative of these terms, or other statements concerning opinions or judgments of the Company’s management about future events. Factors that could influence the accuracy of such forward-looking statements include, but are not limited to: pressures on the Company’s earnings, capital and liquidity resulting from current and future conditions in the credit and equity markets; the financial success or changing strategies of the Company’s customers; actions of government regulators or changes in laws, regulations or accounting standards that adversely affect our business; changes in the interest rate environment and the level of market interest rates that reduce our net interest margins and/or the values of loans we make and securities we hold; weather and similar conditions, particularly the effect of hurricanes on the Company’s banking and operations facilities and on the Company’s customers and the communities in which it does business; continued or

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unexpected increases in credit losses in the Company’s loan portfolio; continued adverse conditions in general economic conditions and real estate values in our banking market (particularly as those conditions affect our loan portfolio, the abilities of our borrowers to repay their loans, and the values of loan collateral); and other developments or changes in our business that we do not expect. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by the cautionary statements in this paragraph. The Company has no obligation, and does not intend, to update these forward-looking statements.

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ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Balance Sheets

December 31, 2011 and 2010

(Dollars in thousands, except per share data)

ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Results of Operations

For the three and twelve months ended Decemebr 31, 2011 and 2010

(Dollars in thousands, except per share data)

ECB Bancorp, Inc.

Supplemental Quarterly Financial Data (Unaudited)

(Dollars in thousands, except per share data)