ECB Bancorp, a bank holding company, has reported net income of $1.10 million or $0.38 per diluted share for the second quarter ended June 30, 2008, compared to $1.26 million, or $0.43 per diluted share for the same period of 2007.
For the second quarter of 2008, the company reported net interest income of $5.37 million, an 8.1% increase compared to $4.97 million for the same quarter of 2007. Non-interest income was $1.71 million, a 7.7% increase compared to $1.58 million for the same quarter of 2007.
For the six months ended June 30, 2008, the company reported net income of $2.15 million or $0.74 per diluted share, compared to $2.21 million or $0.76 per diluted share for the same period of 2007.
The company reported net interest income of $10.39 million for the six months ended June 30, 2008, a 4.7% increase compared to $9.92 million for the same period of 2007. Non-interest income was $3.65 million, an 11.9% increase compared to $3.27 million for the same period of 2007.
Arthur Keeney III, president and CEO of ECB Bancorp, said: We are very pleased to report another solid quarter of financial performance for the company. Our loan portfolio increases were spread fairly evenly throughout the coastal North Carolina communities which we serve and the weighted average risk profile of our portfolio remained consistent compared to previous periods.