New Century Bancorp, Inc. Announces Entry Into Underwriting Agreement for the Sale of Common Stock
30 Junho 2006 - 1:00PM
PR Newswire (US)
DUNN, N.C., June 30 /PRNewswire-FirstCall/ -- New Century Bancorp,
Inc. (NASDAQ:NCBC), the holding company for New Century Bank and
New Century Bank South, entered into an Underwriting Agreement with
Howe Barnes Investments, Inc. and Sandler O'Neill & Partners,
L.P. for the sale of 1,000,000 shares of New Century Bancorp, Inc.
common stock at a price of $18.50 per share. The net proceeds of
the public offering are expected to be approximately $17,260,000.
The Underwriting Agreement grants the underwriters an option,
exercisable for a period of 30 days, to purchase up to an
additional 150,000 shares of common stock to cover over-allotments,
if any. The offering was made pursuant to a registration statement
filed with the Securities and Exchange Commission, which has been
declared effective. New Century Bancorp, Inc.'s common stock has
been approved for listing on the Nasdaq National Market under the
symbol "NCBC." New Century Bank has offices in Dunn, NC, Clinton,
NC (2), Goldsboro, NC, and Lillington, NC, and New Century Bank
South serves Fayetteville through a headquarters and banking office
in Fayetteville, NC. The company plans to complete its pending
acquisition of Progressive State Bank this summer, adding five
additional offices in Hoke, Robeson, and Bladen counties, all in
North Carolina. http://www.newcenturybanknc.com/ This news release
may contain 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.
DATASOURCE: New Century Bancorp, Inc. CONTACT: Nick Bach of Howe
Barnes Investments, Inc., +1-312-655-2946 Web site:
http://www.newcenturybanknc.com/
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