New Century Bancorp Names Carlie C. 'Mack' McLamb, Jr. to Board of Directors

Oct 08, 2010, 13:59 ET from New Century Bancorp

DUNN, N.C., Oct. 8 /PRNewswire-FirstCall/ --

  • McLamb fills the seat formerly occupied by his father, Carlie C. McLamb, Sr.
  • McLamb's initial term of service will end in May 2011, at which time he will stand for reelection by the Company's shareholders.

The Board of Directors of New Century Bancorp (Nasdaq: NCBC – the "Company"), elected local businessman Carlie C. "Mack" McLamb, Jr. to serve on the Company's board, announced William L. Hedgepeth II, president and CEO of New Century Bancorp and New Century Bank.  

McLamb fills the seat vacated by his father, Carlie C. McLamb, Sr., who retired from the board earlier this year. Carlie C. McLamb, Sr. was a founding member of the bank's board of directors and was instrumental in helping raise the $10.7 million in start-up capital to start the bank.

"I'm pleased to announce Mack as an addition to our board," commented Hedgepeth. "He brings strong business and community knowledge to this role as a representative for our shareholders."

McLamb serves as president of Carlie C's IGA, a retail grocery store chain with 13 locations throughout the region. He is a Dunn native with deep roots in the area. He and his wife, Zada, are members of Manna Church located in Fayetteville.  

New Century Bancorp (Nasdaq: NCBC), the holding company for New Century Bank, reported total assets of $663.0 million as of June 30, 2010. New Century Bank is headquartered in Dunn and has branch offices in these North Carolina communities: Dunn, Clinton, Fayetteville, Goldsboro, Lillington, Lumberton, Pembroke, Raeford, and a loan production office in Greenville.

The information as of and for the year ended June 30, 2010, ended 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.

SOURCE New Century Bancorp