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
Betty Crump Joins Local Bank As Assistant Vice President
And Community Banker

APEX, N.C. – Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global Market SM), has announced that Betty Crump has joined the firm as assistant vice president and community banker at the Apex office on 303 South Salem Street. In this position, Crump will be responsible for business development, commercial loans, establishing banking relationships for bank growth and community volunteer work. Crump is active in a number of local civic and community organizations, including the Apex and Cary Chambers of Commerce. United Way, Relay For Life, American Heart Association and the Middle Creek Choral Boosters.

“Crescent State Bank is pleased to welcome Betty to the team,” said Carlton. “Her experience in the banking industry is an immediate asset to the bank and to the communities we serve.”

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

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