Crescent State Bank Clayton Office Vice President Named Ambassador Of The Year

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

Crescent State Bank Clayton Office Vice President
Named Ambassador Of The Year
Wanda Markuson Recognized By Clayton Chamber of Commerce

CLAYTON, N.C. – Bill Greene, City Executive at Crescent State Bank, a wholly-owned subsidiary of Crescent Financial Corporation, (Nasdaq National Market: CRFN), has announced that Wanda Markuson, Vice President at Crescent State Bank, has been recognized as Ambassador of the Year by the Clayton Chamber of Commerce. Markuson has worked with Crescent State Bank for six years and is responsible for business development, customer relations and loan and deposit growth.

“I am honored to receive such an outstanding recognition,” said Markuson. “As Ambassador of the Year, I want to continue to serve my community and bring new members to the Clayton Chamber of Commerce.”

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