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Ronald V. Jackson Appointed To New Century Bancorp Board

DUNN, N.C., March 1, 2012 /PRNewswire/ -- The Board of Directors of New Century Bancorp (NASDAQ: NCBC the "Company") unanimously approved the appointment of local business owner Ronald V. "Ronnie" Jackson to serve on the corporate board, announced William L. Hedgepeth II, president and CEO of both New Century Bancorp and New Century Bank.

"Agriculture is a significant part of our area's economy," Hedgepeth said, "Ronnie's insight in this sector has been, and will continue to be, valued by all of us. In addition, as a business owner, an involved citizen, and as a long-term supporter of New Century Bank – having served on the New Century Bank Board, and the Dunn and Clinton advisory boards, he provides a perspective that is important to his fellow board members, as well as to our shareholders and customers.

"After New Century Bank opened in Dunn in 2000, expansion to Clinton followed in 2002. It has been a key market for our bank and as the area has grown we have grown there as well, building and opening a new full-service office in 2009.  Strategically located near I-95 and less than an hour's drive from Raleigh, North Carolina's capital city, Clinton and Sampson County are committed to a strong future for business and industry, as represented by the construction of a 70-acre industrial park—Sampson Southeast Business Center—in Clinton.  In addition, the area is known for its strong agricultural base, which received national recognition in 2005 when Farm Future Magazine rated Sampson County as the Best Place to Farm in the United States . We are pleased to be part of the strength and success of this market.  In addition to representing all of our customers and communities, Ronnie will help New Century Bank continue to keep pace with the community's needs and how we can assist them."       

Jackson owns and operates Clinton Truck and Tractor Company, a 60-year old local firm where he began working in 1972. Prior to joining Clinton Truck and Tractor, he worked for International Harvester. A graduate of North Carolina State University in Raleigh, NC, he received his degree in agricultural engineering.

Chairman of the Board J. Gary Ciccone commented on Jackson's appointment, "Ronnie knows our bank and the markets we serve.  He joins the board with the ability to hit the ground running in helping us make decisions that will benefit our shareholders and customers as we move forward. He will be an asset to the board and I look forward to serving with him."

A civic leader, Jackson provides support as president of the Sampson County Friends of Agriculture, as a board member of the North Carolina State Wolfpack Club, and as a member of the Case IH National Dealer advisory board. He is a member of the board of trustees of the Clinton-Sampson Chamber of Commerce, and a board member and past president of the Clinton 100 Committee. Previously, he served as president of the Clinton Rotary Club; president of the Southeastern Equipment Dealers Association; treasurer and member of the executive committee of the NC Agribusiness Council; president of the Clinton-Sampson Chamber of Commerce; as well as serving for 17 years on the board of trustees of the Sampson Regional Medical Center, including 7 as chairman of the board, in addition to serving on the hospital's Foundation Board.

New Century Bancorp (NASDAQ: NCBC),the holding company for 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.

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

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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