Crescent State Bank

Raleigh, NC, March 14, 2006 --(PR.com)-- Michael G. Carlton, President of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq National Market: CRFN), will speak to the Garner Junior Bank Board on Mar. 21 at Garner Magnet High School. Carlton will share personal experiences about his early days in the banking profession and his methods to establish positive and effective leadership within the banking industry.

“I am honored to have the opportunity to share my experience and knowledge with an outstanding group of students,” said Carlton. “This is an excellent opportunity to not only give back to our community, but to help mentor strong and confident future leaders.”

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 $411 million, deposits of approximately $322 million, and loans of $324 million as of December 31, 2005, with nine full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, and Pinehurst, North Carolina, and a loan production office in Raleigh.

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