ECB Bancorp, Inc. ECBE announced today that its shareholders
approved several proposals necessary to consummate the previously announced
$79.7 million private placement of its common stock with institutional
investors. The proposals, which included two amendments to the Company's
articles of incorporation and a Nasdaq required private placement proposal,
were approved at the October 12, 2011 special meeting of shareholders. At the
special meeting, shareholders also approved the Company's 2011 Equity Plan.
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