SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20006
FORM 8-KSB
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 30, 2000
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ECB BANCORP, INC
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(Exact name of registrant as specified in its charter)
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North Carolina 0-24753 56-2090738
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(State or other jurisdiction (Commission File (IRS Employer
of corporation) Number) Identification No.
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35080 US 264
P. O. Box 337
Engelhard, North Carolina 27824
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(Address of principal executive offices)
Registrant's telephone number, including area code (252) 925-9411
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N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
On March 30, 2000, ECB Bancorp, Inc., announced that its Board of
Directors has authorized management to repurchase shares of Bancorp's
outstanding common stock. The Board's authorization extends for a period of one
year and for up to 5% of Bancorp's outstanding shares. A copy of the Company's
press release is attached as Exhibit 99 to this Report.
Item 7. Exhibits
The following exhibits are attached to this Report:
Exhibit Number Description
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99 Copy of ECB Bancorp, Inc.'s March 30, 2000,
press release.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
ECB Bancorp, Inc.
By: /s/ Arthur H. Keeney, III
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Arthur H. Keeney, III
President and Chief Executive Officer
Dated: March 30, 2000
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ECB BANCORP, INC.
ECB
PRESS RELEASE
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CONTACT: Gary M. Adams/Chief Financial Officer
(252) 925-9111, extension 2209
FAX-(252) 925-8491
March 30, 2000
FOR IMMEDIATE RELEASE
ECB BANCORP, INC. APPROVES STOCK REPURCHASE
ENGELHARD, NC - ECB Bancorp, Inc. ("Bancorp") reported today that its
Board of Directors has authorized management to repurchase shares of Bancorp's
outstanding common stock. The Board's authorization extends for a periods of one
year and for up to 5% of Bancorp's outstanding shares.
Arthur H. Keeney III, ECB Bancorp's President and Chief Executive
Officer stated that "the market prices of financial institution stocks in
general began to decline during 1999. With the market price of Bancorp's common
stock at levels below what we've seen in recent years, the Board of Directors
has authorized management to repurchase shares, on the open market or in private
transactions, when doing so would, in management's judgement, be in the
Company's best interest."
ECB Bancorp, Inc. is the parent holding company of The East Carolina Bank.
