ECB BANCORP, INC. (a North Carolina corporation) 750,000 Shares of Common Stock (Par Value $3.50 Per Share) PURCHASE AGREEMENTPurchase Agreement • March 6th, 2006 • Ecb Bancorp Inc • State commercial banks • New York
ECB Bancorp, Inc., a North Carolina corporation (the “Company”) confirms its agreement with Keefe, Bruyette & Woods, Inc. (“Keefe Bruyette” or the “Underwriter”), with respect to (i) the sale by the Company and the purchase by the Underwriter of the respective numbers of shares of Common Stock, $3.50 par value per share, of the Company (“Common Stock”) set forth in Schedules A and B hereto and (ii) the grant by the Company to the Underwriter of the option described in Section 2(b) hereof to purchase all or any part of 112,500 additional shares of Common Stock to cover over-allotments, if any. The aforesaid 750,000 shares of Common Stock (the “Initial Securities”) to be purchased by the Underwriter and all or any part of the 112,500 shares of Common Stock subject to the option described in Section 2(b) hereof (the “Option Securities”) are hereinafter called, collectively, the “Securities.”
