FOR RELEASE: July 28, 2014

Dana Cochran
Vice President Marketing Manager Office: 910-892-7080 danac@selectbank.comSelectBank.com

NEW CENTURY BANCORP COMPLETES ACQUISITION OF SELECT BANCORP

Surviving company to operate under new name.

DUNN, NC . . . At the close of business on Friday, July 25, 2014, New Century Bancorp, Inc. completed its acquisition of Select Bancorp, Inc., and the two holding companies combined their respective banking subsidiaries, New Century Bank and Select Bank & Trust Company, as of the same date. As part of the merger, it was determined that New Century Bancorp and New Century Bank would take the Select Bancorp, Inc. and

Select Bank & Trust Company names, respectively, and the name change became effective Monday, July 28,
2014.
"We believe we have brought together two companies with similar cultures and philosophies and, in so doing, have created an outstanding community banking franchise that will be an asset to the communities we serve and one which will benefit our employees, customers, and shareholders," said William L. Hedgepeth II, president and chief executive officer of Select Bancorp, Inc. and Select Bank & Trust Company. "We are pleased to have achieved this milestone and are now able to move forward together. It is an exciting time."
In connection with the change of the surviving company's name, Select Bancorp, Inc. common stock will now be traded on the NASDAQ Global Market under the new stock ticker symbol SLCT (NASDAQ: SLCT).
The newly combined Select Bancorp, Inc. has total assets, deposits and loans of approximately $805.0 million,
$667.0 million and $561.0 million, respectively.
Janney Montgomery Scott LLC served as financial advisor and Wyrick Robbins Yates & Ponton LLP served as legal counsel to New Century Bancorp, Inc. Smith Capital, Inc. served as financial advisor and Williams Mullen served as legal counsel to Select Bancorp, Inc.

### Select Bancorp, Inc.

Select Bancorp, Inc. is a bank holding company headquartered in Dunn, North Carolina whose wholly-owned subsidiary, Select Bank &

Trust Company, is a state chartered commercial bank insured by the Federal Deposit Insurance Corporation (FDIC). Select Bank & Trust has 14 branch offices in the following North Carolina communities: Burlington, Clinton, Dunn, Elizabeth City, Fayetteville (2),

Gibsonville, Goldsboro, Greenville (2), Lillington, Lumberton, Raleigh and Washington. More information can be obtained by visiting

Select's web site at SelectBank.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You

can identify forward-looking statements by words such as "may," "hope," "will," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential," "continue," "could," "future" or the negative of those terms or other words of similar

rneaning. You should read staternents that contain these words carefi.ùly because they discuss our future expectat:ions or state other

"forward-look:ing" informat:ion. These forward-look:ing staternents involve a nurnber of risks and nncertaint:ies.

Select Bancorp caut:ions readers that any forward-look:ing staternent is nota guarantee of future performance and that actual results could differ rnaterially frorn those contained in the forward-look:ing staternent. Such forward-look:ing staternents include, but are not lirnited to, staternents about the benefits ofthe rnerger, Select Bancorp's plans, object:ives, expectat:ions and intent:ions, and other staternents that are not historical facts. Irnportant factors that could cause actual results to differ rnaterially frorn those indicated by such forward-look:ing staternents are set forth in Select Bancorp's filings with the SEC. Each forward-look:ing staternent speaks orùy as ofthe date ofthe part:icular staternent, and, except as rnay be required by law, Select Bancorp nndertakes no obligat:ion to publicly update any forward­ look:ing staternent, whether as a result of new informat:ion, future events or otherwise.

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