A. Dwight Utz, President/CEO of ECB Bancorp (ECB) and the East Carolina Bank announced today the promotion of Lorie Y. Runion as Executive Vice President, Chief Administrative Officer for ECB Bancorp, Inc. and the East Carolina Bank. Ms. Runion has also been named Corporate Secretary of the Corporation. Since joining ECB in December 2009, she has served as SVP, Chief Administrative Officer and was appointed as an executive officer for both the corporation and the bank in January 2011. As Chief Administrative Officer (CAO), Ms. Runion will continue to have oversight for our Company’s strategic plan and the alignment of business decisions to our overall strategic rationale; Human Resources, and our Learning and Talent Development function, including ECB University; and special project management. She will assume responsibility for building ECB’s Corporate Communications function which involves the development and implementation of communications programs to a wide range of stakeholders. Ms. Runion is a member of our Strategic Thinking Group (STG) and holds management responsibility for the Compensation Committee of the Board. “In today’s world of organizational complexity, rapid change, new regulation and the challenge to remain competitive and innovative, we believe that strategy development and execution is a continuous process. The development and implementation of a robust communication program, both internally and externally, to our wide range of stakeholders including our associates, customers, shareholders, investors, communities and the general public is crucial to the communication of ECB’s strategy. Ms. Runion’s strategic approach and vision complemented by her expertise in areas of strategic planning, corporate communication, talent development/acquisition, marketing, special projects and banking in general properly position her to assume the responsibilities EVP for ECB,“ stated President/CEO, A Dwight Utz. “I am certainly honored and very pleased to be appointed as ECB’s EVP, CAO and to continue to work with the dynamic leadership team here at ECB,“ commented Ms. Runion. “My energy will be focused on leveraging my talent to position ECB for our planned strategic growth and as a vibrant provider of financial services.”
Ms. Runion’s over 30 years in the financial services industry include serving as Senior Vice President at Drovers Bank, in York, PA and as Executive Vice President at First National Bank in Hermitage, PA. Prior to joining ECB, Lorie was with Beach First National Bank, now BNC, and was a teaching associate with the Wall College of Business at Coastal Carolina University in the area of Marketing. Her Banking career started as a part-time summer employee at Peoples Bank of Glen Rock, Glen Rock, PA for whom she worked multiple summers, holidays and evenings while obtaining her Master’s degree.She is a 1989 graduate of Stonier Graduate School of Banking and was a member of the ABA Marketing Network’s strategic colloquium of senior executives for banks under $10 billion for 12 years. Lorie has held the designation of Certified Financial Marketing Professional (CFMP) and completed the Executive Leadership Program with the Napier Group. She holds a B.S. in Education from York College of Pennsylvania and a M.S. in Psychology from Millersville University. Ms. Runion and her husband James live in Kill Devil Hills, NC. They have two children, Benjamin Runion of Charleston, SC and Jessica Runion Cox of Ft Bragg, NC where her husband serves with the 82 nd Airborne. 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 NYSE Amex under the symbol “ECBE”. More information can be obtained by visiting ECB's web site at www.myecb.com. “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. 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 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 about future events. Factors that could influence the accuracy of such forward-looking statements include, but are not limited to: the regulatory and shareholder approvals required for the private placement may not be obtained or may not be obtained on the terms expected or on the schedule that we anticipate; and other closing conditions for the private placement may not be satisfied. In addition, factors that could have a material impact on the results of operations of the Company 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 conditions in general 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.