March 09, 2009
Approval of proposal by Southern BancShares
For immediate release
The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act by Southern BancShares (N.C.), Inc., Mount Olive, to acquire up to 9.9 percent of the outstanding voting shares of ECB Bancorp, Inc. and indirectly acquire shares in its subsidiary bank, The East Carolina Bank, both of Engelhard, all of North Carolina.
Attached is the Board's Order relating to this action.