Exhibit 99.1

Mark A. Jeffries

Executive Vice President

Chief Financial Officer

Office: 910-892-7080 and Direct: 910-897-3603

markj@SelectBank.com

SelectBank.com

SELECT BANCORP REPORTS

FOURTH QUARTER AND YEAR-END 2016 EARNINGS

DUNN, NC . . . Select Bancorp, Inc. (the “Company” NASDAQ: SLCT), the holding company for Select Bank & Trust, today reported net income for the year ended December 31, 2016 of $6.8 million and basic and diluted earnings per share of $0.58, compared to net income of $6.6 million and basic and diluted earnings per share of $0.56 for the year ended December 31, 2015.

For the fourth quarter of 2016, the Company reported net income of $1.6 million, and basic and diluted earnings per share of $0.14, compared to net income of $1.6 million and basic and diluted earnings per share of $0.14 for the fourth quarter of 2015.

Total assets, deposits, and total loans for the Company as of December 31, 2016 were $846.6 million, $679.7 million, and $677.2 million, respectively, compared to total assets of $817.0 million, total deposits of $651.2 million, and total loans of $617.4 million as of the same date in 2015.

For the twelve months ended December 31, 2016, return on average assets was 0.81% and return on average equity was 6.61%, compared to 0.86% and 6.42%, respectively, for the twelve months ended December 31, 2015.

Non-performing loans decreased to $6.9 million at December 31, 2016 from $8.3 million at December 31, 2015. Non-performing loans equaled 1.02% of loans at December 31, 2016, decreasing from 1.41% of loans at December 31, 2015. Foreclosed real estate equaled $599,000 at December 31, 2016, compared to $1.4 million at December 31, 2015. For the year ended December 31, 2016, net charge-offs were $126,000, or 0.08% of average loans, compared to net charge offs of $714,000, or 0.12% of average loans in 2015. At December 31, 2016, the allowance for loan losses was $8.4 million, or 1.24% of total loans, as compared to $7.0 million, or 1.14% of total loans, at December 31, 2015.

Net interest margin was 4.06% and 3.98% for the year and quarter ending December 31, 2016, as compared to 4.38% and 4.18% for the year and quarter ending December 31, 2015.

“We are pleased to report another year of record earnings,” President and CEO William L. Hedgepeth II said. “Our strategy has been growth-oriented and efficiency driven, while delivering value to our shareholders.”

Among the highlights of 2016, Hedgepeth said, “We strategically combined branches in our Greenville market and relocated our Raleigh branch. We increased loans by approximately 10% over the previous year and improved our return on equity and efficiency ratio while our asset quality remains solid.”

Mr. Hedgepeth added, "We continue to actively expand our market footprint, focusing on higher growth North Carolina markets. We recently completed our branch restructuring, and anticipate growing in the Raleigh and Wilmington areas as we move forward. Our new location in the Raleigh market, along with our recent entrance in the Leland/Wilmington market and the Morehead City area, should help with growth in new markets in addition to our proactive effort to grow our existing footprint. We believe we have the capital necessary to focus on continued growth in these promising markets. As consolidation in our industry continues, we are attracting new customers who are not happy with a larger financial institution, and we are also attracting experienced and knowledgeable employees from these consolidations.”

Select Bank & Trust has branch offices in these North Carolina communities: Dunn, Burlington, Clinton, Elizabeth City, Fayetteville, Goldsboro, Greenville, Leland, Lillington, Lumberton, Morehead City, Raleigh and Washington.

The information as of and for the quarter and year ended December 31, 2016, 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 market share growth, 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, 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. Except as required by law, the Company assumes no obligation to update the forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

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Select Bancorp, Inc.

Selected Financial Information and Other Data

($ in thousands, except per share data)