Crescent State Bank Named To North Carolina’s Top 100 List By Triangle Business Journal

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

Crescent State Bank Named To North Carolina’s Top 100 List By Triangle Business Journal
Local Community Bank Recognized As A Top Public Company In The State

CARY, N.C. – Michael Carlton, president of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq National Market: CRFN), has announced that the bank has been named as one of the North Carolina’s Top 100 public companies in the Triangle Business Journal’s Book of Lists 2006. Crescent State Bank has nine full service banking offices throughout the state.

“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 public companies in the state 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 $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.

Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.com