Crescent State Bank Holds Holiday Open House

MMI Associates, Inc.
7406-H Chapel Hill Road
Raleigh, NC 27607
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patty@mmimarketing.com

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

Crescent State Bank Holds Holiday Open House
Southern Pines Branch of Community Bank
Holds Customer Appreciation Day On December 21

SOUTHERN PINES, N.C. – James F. Byrd, Senior Vice President of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq National Market: CRFN), has announced that the branch will hold a holiday open house and customer appreciation day on Wednesday, Dec. 21 from 11 a.m. to 3 p.m. The event, open to current and future customers, will include refreshments, holiday music and special gifts.

“Crescent State Bank is pleased to be in Southern Pines,” said Byrd. “We look forward to celebrating the holidays with our friends in the community.”

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 $405 million, deposits of approximately $313 million, and loans of $318 million as of September 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, and a loan production office in Raleigh.

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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.

Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.com