Select Bancorp Re-Elects Four Members To Board


Gerald W. Hayes

DUNN, N.C., May 16, 2017 (GLOBE NEWSWIRE) -- Select Bancorp, Inc. (NASDAQ:SLCT), the holding company for Select Bank & Trust, elected four members to the corporate board of directors for terms of three years at its Annual Meeting of Shareholders held today.

“Each one of these members brings a great deal of leadership experience, in both the public and private sector, as well as knowledge of our Company, having served on the board for a number of years, including a bank founder and our president and CEO,” said Chairman of the Board J. Gary Ciccone.

The four directors who were re-elected by the shareholders are:

  • Gerald W. Hayes, a director since 2000, who serves as Attorney and President of Hayes, Williams, Turner & Daughtry, P.A.
  • Anthony E. Rand, a director since 2003, who serves as President of Rand & Gregory, P.A.; former Associate Vice President of Fayetteville Technical Community College and former Majority Leader for the North Carolina Senate.
  • William L. Hedgepeth II, a director since 2007, who serves as President & Chief Executive Officer, Select Bancorp and Select Bank.
  • Carlie C. McLamb Jr., a director since 2010, who serves as President of Carlie C’s IGA, Inc. (Grocery Stores).

President & CEO William L. Hedgepeth II gave a brief presentation to shareholders presenting highlights of 2016 and the focuses for 2017. “We are very proud of our performance in 2016 and our strong start to 2017,” said Hedgepeth. “We achieved 10% loan growth and earned a record $6.8 million in net income in 2016. In the first quarter of 2017, we have reported another solid period of growth and earnings comparing quarter over quarter results. That success has allowed us to be able to attract experienced and knowledgeable personnel to Select Bank & Trust.”

“We have implemented our growth strategy in a progressive and positive approach while maintaining our core values,” Hedgepeth added. “Our valued shareholders have seen appreciation in their investment in us, due to this ‘Forward Thinking / Future Focused’ approach to banking.”

In other business, the accounting firm of Dixon Hughes Goodman LLP was appointed as the Company’s independent registered public accounting firm for 2017.

Select Bank & Trust has branch offices in these North Carolina communities: Dunn, Burlington, Clinton, Elizabeth City, Fayetteville, Goldsboro, Greenville, Leland, Lillington, Lumberton, Morehead City, Raleigh and Washington.

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