Crescent State Bank Announces New Employee

MMI Associates, Inc.
7406-H Chapel Hill Road
Raleigh, NC 27607
(919) 233-6600 • (919) 233-0300 (fax)
patty@mmimarketing.com

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

Crescent State Bank Announces New Employee
Kim Atkins Joins Local Bank As Assistant Vice President
And Community Banker

RALEIGH, 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 Kim Atkins has joined the firm as assistant vice president and community banker at the new Raleigh location on Falls of Neuse Road. In this position, Atkins will be responsible for dealing with local business owners and their families, providing service and advice. Atkins has over eight years of successful banking experience and received her bachelor of science degree from Colorado State University with an emphasis in personal finance.

“Crescent State Bank is pleased to welcome Kim to the team,” said Carlton. “We believe she will be a valuable asset to the Raleigh community.”

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