Frank Quis, Jr. Serves On Crescent State Bank’s Moore County Advisory Board

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

Frank Quis, Jr. Serves On Crescent State Bank’s Moore County Advisory Board
Local Mayor Named To Bank’s Advisory Board

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 Frank R. Quis, Jr., Mayor of Southern Pines and President of Quis Machinery, will continue to serve on the bank’s Moore County Advisory Board. The Advisory Board acts as a liaison between the bank and the community and advises the organization on how to better serve the community. At Quis Machinery, Quis distributes industrial machinery to the woodworking industry, serving the Carolinas since 1952.

“Frank is a business leader and a community leader in Southern Pines, so he will be a valuable resource to the board,” said Byrd. “I am pleased he agreed to return to our Advisory Board.”

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.

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