Select Bancorp, Inc.

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SELECT BANCORP MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF SELECT BANCORP, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – SLCT

June 2, 2021.

New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Select Bancorp, Inc. (NASDAQ: SLCT) to First BanCorp. is fair to Select Bancorp shareholders. Per the terms of the merger agreement, Select Bancorp shareholders will receive 0.408 shares of First Bancorp’s common stock for each share of Select Bancorp common stock they own.

The investigation concerns whether Select Bancorp and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Select Bancorp shareholders; (2) determine whether First BanCorp. is underpaying for Select Bancorp; and (3) disclose all material information necessary for Select Bancorp shareholders to adequately assess and value the merger consideration. On behalf of Select Bancorp shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

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