Crescent State Bank Ranked As One Of Top Triangle Banks

MMI Associates, Inc.
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For Immediate Release Contact: Patty Briguglio (919) 233-6600

Crescent State Bank Ranked As One Of Top Triangle Banks
Triangle Business Journal’s Book Of Lists Ranks
Community Bank In Top 25 In The Triangle

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 the firm has been recognized as one of top Triangle banks in the Triangle Business Journal’s Book of Lists 2006. Crescent State Bank has six offices in the immediate area, and a total of nine offices throughout the region.

“We are very excited to be recognized in this publication,” said Carlton. “We realize that it is an honor to be named one of the top banks in the Triangle and will continue to provide great service to our clients.”

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