Michael G. Carlton To Speak At 12th Annual Community Bank Conference

CARY, N.C. – Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), will be a guest speaker at the 12th Annual Community Bank Conference hosted by Howe Barnes Hoefer & Arnett, Inc., on Monday, Aug. 13 and Tuesday, Aug. 14 at the Fairmount Chicago hotel in Chicago. Carlton is scheduled to give a presentation discussing the business strategy and financial performance of Crescent Financial Corporation on Aug. 13 at 2:10 p.m. Central Time (3:10 p.m. Eastern).

The presentation slides will be filed with the Securities and Exchange Commission prior to the start of the conference. Howe Barnes Hoefer & Arnett will offer a live audio webcast on the Internet, which may be accessed at http://www.howebarnes.com. The webcast will be available to the general public and will be archived for reply for seven business days following the end of the conference. Attendance at the Howe Barnes Hoefer & Arnett conference is by invitation only. For more information about this year’s event, please contact Katie Britton at (800) 800-4693 or e-mail bankconference@howebarnes.com.

Related Links:
http://www.crescentstatebank.com.
http://www.howebarnes.com
http://www.fairmont.com/chicago

News Facts:

• Michael G. Carlton will be a guest speaker at the 12th Annual Community Bank Conference hosted by Howe Barnes Hoefer & Arnett, Inc.
• Michael G. Carlton is president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM).
• The conference will be held on Monday, Aug. 13 and Tuesday, Aug. 14 at the Fairmount Chicago hotel in Chicago.
• Carlton is scheduled to give a presentation discussing the business strategy and financial performance of Crescent Financial Corporation on Aug. 13 at 2:10 p.m. Central Time (3:10 p.m. Eastern).
• The presentation slides will be filed with the Securities and Exchange Commission prior to the start of the conference. Attendance at the Howe Barnes Hoefer & Arnett conference is by invitation only.
• Howe Barnes Hoefer & Arnett will offer a live audio webcast on the Internet, which may be accessed at http://www.howebarnes.com.
• The webcast will be available to the general public and will be archived for reply for seven business days following the end of the conference.
• For more information about this year’s event, please contact Katie Britton at (800) 800-4693 or e-mail bankconference@howebarnes.com.

About the Annual Community Bank Conference:
Representing the premier small cap bank conference in the country, the Howe Barnes & Arnett, Inc. Annual Community Bank Conference combines the best community banking companies with some of the most respected and well recognized individuals and institutional bank stock investors in the country. This year’s conference will offer a broad cross section of industry leaders to help attendees gain insight into the current opportunities, challenges and developments in the community banking sector. In addition, this conference provides investors a high level of interaction with the top executives of prominent community banks located throughout the Midwest, Southeast and West Coast. For more information, please visit http://www.howebarnes.com.

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank has total assets of $782.3 million, deposits of $617.8 million, and net loans of $600.8 million as of June 30, 2007. The bank operates eleven full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh and Wilmington, North Carolina. For more information, visit http://www.crescentstatebank.com.

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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.
Keywords:
Crescent State Bank, Crescent Financial Corporation, Global NASDAQ, Michael Carlton, Annual Community Bank Conference, Howe Barnes Hoefer & Arnett, Inc., Webcast, Fairmount Chicago

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

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