Crescent State Bank Names Vice President

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

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

Crescent State Bank Names Vice President
Debbie McLamb Promoted To Vice President And Branch Operations Officer
Of Community Bank

CARY, N.C. – Michael Carlton, President of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq National Market: CRFN), has announced that Debbie McLamb has been promoted to Vice President and Branch Operations Officer. In this position, she will be responsible for development, training of staff and sales at the bank’s nine branches. Debbie has over 30 years of banking experience, was one of the original ten who opened Crescent State Bank and completed the Financial Planner Program earning a Banking Operations Specialist Certification.

“I am pleased to announce Debbie’s promotion,” said Carlton. “She is an important member of our management team and will be vital as we continue to develop staff at our branches.”

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 $411 million, deposits of approximately $322 million, and loans of $324 million as of December 31, 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