Rod Webb Joins Crescent State Bank

MMI Associates, Inc.
7406-H Chapel Hill Road
Raleigh, NC 27607
(919) 233-6600 • (919) 233-0300 (fax)
patty@mmimarketing.com

For Immediate Release Contact: Patty Briguglio (919) 233-6600

Rod Webb Joins Crescent State Bank
Community Bank Adds Commercial Loan Officer

Raleigh, NC – Michael G. Carlton, President of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN), has named Rod Webb, Senior Vice President, as a Commercial Loan Officer responsible for business development in Raleigh and greater Wake County.

"Rod brings a wide range of experience in the commercial banking arena to Crescent State Bank,” said Carlton. “He will be a great benefit to our organization.”

About Rod Webb:
A Raleigh resident, Webb has over 13 years of successful experience in the banking industry. Webb received his B.S. in Business from Wake Forest University. Prior to joining Crescent State Bank, Webb served as a Vice President and Client Manager. Webb is involved in several local civic and charitable programs including serving as a board member for Wake Education Partnership, Building Together Ministries, The National Jobs Partnership, and Self-Help Credit Union, as well as acting as a member of the Greater Triangle Area YMCA Finance Committee.

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank opened in December 1998 to cater to the financial needs of the communities it serves. The bank has total assets of approximately $393 million, deposits of approximately $323 million, and loans of $297million as of June 30, 2005, with nine full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, and Pinehurst, North Carolina.
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Investors can access additional corporate information, product descriptions, and online services through the Bank’s website at http://www.crescentstatebank.com.

Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, and the effects of competition. Additional factors that could cause actual results to differ materially are discussed in Crescent Financial Corporation’s recent filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K and its other periodic reports.

Media and Press Contacts:
MMI Associates, Inc.
Patty Briguglio
919-233-6600
Patty@mmimarketing.com