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
Danielle Beagley Joins Local Bank As Marketing Coordinator

CARY, N.C. – Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that Danielle Beagley has joined the firm as marketing coordinator at the Cary office on High House Road. In this position, Beagley is responsible for coordinating the bank’s advertising, marketing, promotions, communications and public relations.

“I am pleased to welcome Danielle to our firm,” said Carlton. “Her passion for her profession is an important asset to Crescent State Bank.”

About Danielle Beagley:
Danielle Beagley is the marketing coordinator for Crescent State Bank at the Cary office on 1005 High House Road. She has over six years of experience in the financial marketing industry. Prior to working with Crescent State Bank, Beagley managed the Affinity Federal Credit Union Web site and oversaw the Duke University Federal Credit Union marketing department. Beagley has received two Credit Union Executive Society Golden Mirror Awards, one for image campaigns and one for logos, and was an honorable mention for the Dora Maxell Social Responsibility Award for Financial Education Efforts. She received her BA in communication from Rutgers University. Beagley lives with her daughter in Holly Springs, N.C.

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 $471 million, deposits of approximately $370 million, and loans of $360 million as of June 30, 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