Crescent State Bank’s Alex Macklin Appointed Chair Of Holly Springs Meals On Wheels Program

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

Crescent State Bank’s Alex Macklin Appointed Chair Of Holly Springs Meals On Wheels Program
Community Banker Will Chair Community Program

Holly Springs, NC – Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Alex Macklin, a Community Banker for the Holly Springs office, has been appointed Chair of the Holly Springs Rotary Club Meals on Wheels Program. This chapter’s Meals on Wheels program has been operating for one year, and is responsible for delivering food to needy families on the 1st, 3rd, and 5th Tuesdays of every month. In this position, Macklin will coordinate and educate volunteers for the program.

“I am delighted to accept this position,” said Macklin. “Both the Rotary Club and Meals on Wheels are extremely worthwhile organizations, and I am honored to take part in their noble efforts.”

About the Rotary Club:
Rotary is a worldwide organization of business and professional leaders that provides humanitarian service, encourages high ethical standards in all vocations, and helps build goodwill and peace in the world. Approximately 1.2 million Rotarians belong to more than 31,000 Rotary clubs located in 167 countries.

About Meals on Wheels:
The Meals On Wheels Association of America (MOWAA) is the oldest and largest organization in the United States representing those who provide meal services to people in need. MOWAA provides the tools and information its programs need to make a difference in the lives of others. It also gives cash grants to local senior meal programs throughout the country to assist in providing meals and other nutrition services.

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.