Crescent State Bank Garner Junior Bank Board Raises Money For Cancer Research

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

Crescent State Bank Garner Junior Bank Board Raises
Money For Cancer Research
Local Bank Participants In Relay For Life

CARY, N.C. – Michael G. Carlton, President of Crescent State Bank, a wholly-owned subsidiary of Crescent Financial Corporation, (Nasdaq National Market: CRFN), has announced that the Garner Junior Bank Board of Crescent State Bank will participate in the Garner Relay for Life on April 28 and 29 to raise money for cancer research. The Garner Junior Bank Board members are Nathan Adams, Denise Matthews, Joseph Mitchell, Quentin Owens, Elana Prince, and Fabien Rodriquez; juniors and seniors from Garner Magnet High School.

“Crescent State Bank strives to be active in the community as well as with the lives of its youth,” said Carlton. “Relay for Life is a great way for the Garner Junior Bank Board to reach out to the community and raise money to save lives.”

About Relay for Life:
Relay for Life encourages communities to come together to walk, run, or jog overnight to celebrate survivorship and raise money for cancer research, education, and patient support programs. Team members enjoy the festive atmosphere created through entertainment, camping, prizes, and the company of hundreds of lively people on the track. Relay for Life began in Tacoma, Washington as the City of Destiny Classic 24-Hour Run Against Cancer and has expanded to be an international movement including the United Kingdom, Italy, Australia, Canada, Mexico, Argentina, Marshall Islands, Philippines, Taiwan and Jamaica. In the US alone, there are over 4200 locations which participate annually and over $300 million are raised for cancer research.

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 $445 million, deposits of approximately $350 million, and loans of $351 million as of March 31, 2006, with ten full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Raleigh and Pinehurst, North Carolina.

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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.


Media and Press Contacts:
MMI Associates, Inc.
Patty Briguglio
919-233-6600
Patty@mmimarketing.com