Exhibit 99.1

NEW CENTURY BANCORP REPORTS

SECOND QUARTER 2012 EARNINGS

Quarter sees improving asset quality, reduction in nonperforming loans, and steady net interest margin,

as well as strong capital ratios.

DUNN, NC … New Century Bancorp (the “Company” NASDAQ: NCBC), the holding company for New Century Bank, today reported net income of $744,000 for the quarter ended June 30, 2012, and basic and diluted earnings per share of $0.11, compared to a net loss of ($861,000) and basic and diluted losses per share of ($0.13) for the quarter ended June 30, 2011. For the six months ended June 30, 2012, the Company reported net income of $2.9 million, and basic and diluted earnings per share of $0.41, compared to a net loss of ($740,000) and basic and diluted losses per share of ($0.11) for the same period a year ago.

Total assets for the Company as of June 30, 2012, were $563.0 million, total deposits were $471.2 million, and total loans were $390.4 million, compared to total assets of $629.1 million, total deposits of $538.8 million, and total loans of $458.5 million for the same date in 2011.

Early in the second quarter, New Century completed the sale of its Pembroke and Raeford offices to Lumbee Guaranty Bank, resulting in a one-time gain of $557,000 which was included in non-interest income.

“We are pleased with our second quarter and year-to-date results,” said William L. Hedgepeth, president and CEO of New Century Bancorp and New Century Bank. “Through a focused approach, asset quality has improved, non-performing loans have been reduced, and net interest margin has remained steady. Another positive indicator is that our capital ratios have continued to improve, and we remain well-capitalized which is the highest capital category. As always, we are working to strengthen New Century Bank through the products and services we offer our customers and how we serve them, as well as through a process of continually improving and upgrading our systems. We believe this is critical for remaining a strong community bank as we go forward.”

New Century Bank has branch offices in these North Carolina communities: Dunn, Clinton, Fayetteville, Goldsboro, Lillington, Lumberton, and a loan production office in Greenville.

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The information as of and for the quarter ended June 30, 2012, 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.

New Century Bancorp, Inc.

Selected Financial Information and Other Data

($ in thousands, except per share data)