ECB Bancorp, Inc. Announces Shareholder Approval of Private Placement Related Proposals

ENGELHARD, N.C.--(BUSINESS WIRE)--ECB Bancorp, Inc. (NASDAQ:ECBE) (“ECB” or the “Company”), the parent company of East Carolina Bank (the “Bank”), announced today that its shareholders approved several proposals necessary to consummate the previously announced $79.7 million private placement of its common stock with institutional investors. The proposals, which included two amendments to the Company’s articles of incorporation and a Nasdaq required private placement proposal, were approved at the October 12, 2011 special meeting of shareholders. At the special meeting, shareholders also approved the Company’s 2011 Equity Plan.