Exhibit 99.1

April 30, 2012

FOR IMMEDIATE RELEASE

ECB Bancorp, Inc. Reports 2012 First Quarter Results

ENGELHARD, N.C.-ECB Bancorp, Inc. (NYSE-Amex:ECBE) (“ECB” or the “Company”) today reported its financial results for the three months ended March 31, 2012.

2012 First Quarter Financial Highlights

For the three months ended March 31, 2012, net income totaled $377,000 compared to a net loss of ($1,084,000) for the three months ended March 31, 2011. After adjusting for $265,000 in TARP preferred stock dividends and the accretion of warrant discount, net income available to common shareholders for the three months ended March 31, 2012 was $112,000 or $0.04 per diluted share compared to a loss of ($1,349,000) or ($0.47) per diluted share for the three months ended March 31, 2011.

Other Financial Highlights include:

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A. Dwight Utz, President and Chief Executive Officer, stated: “We are beginning to experience more stability in our loan portfolio both with total outstanding loans and what we project related to loan charge-offs. Our net interest margin (NIM) rebounded from 3.10% averaged in 4^th quarter 2011 to 3.22% for first quarter 2012. This growth in net interest margin is primarily a result of a decrease in our cost of funds. It should be noted we absorbed approximately $174,000 of one-time expenses in the first quarter related to the termination of the private placement offering and acquisition of branches as previously announced in first quarter”.

Thomas M. Crowder, Executive Vice President and Chief Financial Officer stated: “We believe we have positioned our balance sheet to grow our NIM in 2012 based on twelve more months of low interest rates as announced by the Federal Reserve earlier this year. The continuation of this environment should result in a further reduction in our cost of funds and combined with a higher yield from our investment portfolio through a slight increase in our investment portfolio duration, should result in a further increase in our net interest margin.”

Mr. Utz concluded, “We believe, compared to other community banks in North Carolina, ECB is positioned to capitalize upon opportunities that become available based upon improving trends in the economy. Our Board of Directors and leadership team look forward to returning to a more normalized earnings environment in 2012 and all remain confident in the long-term success of ECB to create value for our shareholders. We remain committed to our overarching goal and our vision, which is “We design financial roadmaps that substantively enrich and simplify lives.”

About ECB Bancorp, Inc.

ECB Bancorp, Inc. is a bank holding company, headquartered in Engelhard, North Carolina, whose wholly-owned subsidiary, The East Carolina Bank, is a state-chartered, independent community bank insured by the FDIC. The Bank provides a full range of financial services through its 25 offices covering eastern North Carolina from Currituck to Ocean Isle Beach and Greenville to Hatteras. The Bank also provides mortgages, insurance services through the Bank’s licensed agents, and investment and brokerage services offered through a third-party broker-dealer. The Company’s common stock is listed on The NYSE-Amex Market under the symbol “ECBE”. More information can be obtained by visiting ECB’s web site at www.myecb.com.

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“Safe Harbor Statement” Under the Private Securities Litigation Reform Act of 1995

Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, expectations or beliefs about future events or results, and other statements that are not descriptions of historical facts, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s 2011 Annual Report on Form 10-K and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “feels”, “believes”, “estimates”, “predicts”, “forecasts”, “potential” or “continue”, or similar terms or the negative of these terms, or other statements concerning opinions or judgments of the Company’s management and Board of Directors about future events. Factors that could influence the accuracy of such forward-looking statements include, but are not limited to: pressures on the Company’s earnings, capital and liquidity resulting from current and future conditions in the credit and equity markets; the financial success or changing strategies of the Company’s customers; actions of government regulators or changes in laws, regulations or accounting standards that adversely affect our business; changes in the interest rate environment and the level of market interest rates that reduce our net interest margins and/or the values of loans we make and securities we hold; weather and similar conditions, particularly the effect of hurricanes on the Company’s banking and operations facilities and on the Company’s customers and the communities in which it does business; continued or unexpected increases in credit losses in the Company’s loan portfolio; continued adverse economic conditions and real estate values in our banking market (particularly as those conditions affect our loan portfolio, the abilities of our borrowers to repay their loans, and the values of loan collateral); and other developments or changes in our business that we do not expect. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by the cautionary statements in this paragraph. The Company has no obligation, and does not intend, to update these forward-looking statements.

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See 3 pages of financial information attached

ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Balance Sheets

March 31, 2012, December 31, 2011 and March 31, 2011

(Dollars in thousands, except per share data)

ECB BANCORP, INC. AND SUBSIDIARY

Consolidated Results of Operation

For the three months ended March 31, 2012 and 2011

(Dollars in thousands, except per share data)

ECB Bancorp, Inc.

Supplemental Quarterly Financial Data (Unaudited)

(Dollars in thousands, except per share data)