Crescent State Bank Donates To Angel Tree Program

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

Crescent State Bank Donates To Angel Tree Program
Local Angel Tree Receives Gifts From Community Bank

HOLLY SPRINGS, N.C. – Bob Myers, City Executive of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq National Market: CRFN), has announced that the bank, along with the Holly Springs Rotary Club, donated gifts from their holiday party to the Angel Tree Program. Bank employees, advisory board members and bank patrons contributed age-appropriate gifts that were provided to area families who were not able to afford Christmas presents.

“Giving is an important part of the holiday season,” said Myers. “The employees of Crescent State Bank are active in the community and wanted to do something special for those who are not as fortunate. The Angel Tree Program has a direct impact on our local 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