Crescent State Bank Names New Branch Operations Manager

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

Crescent State Bank Names New Branch Operations Manager
Monica Navarro Joins Raleigh Office

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 Monica Navarro has been named branch operations manager at the Raleigh office. In this position, Navarro will be responsible for developing new business, servicing accounts and customer relations. She holds a bachelor’s degree in psychology from Florida International University and an associate’s degree in arts from Miami Dade Community College. Navarro currently resides in Holly Springs with her family.

“I am pleased Monica has joined our team at Crescent State Bank,” said Carlton. “Her experience with the banking industry will contribute to her success and the success of our team.”

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