Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ SmallCap CRFN) has announced that Lee Rigsbee, Vice President and Commercial Loan Officer for the Southern Pines office of Crescent State Bank, has been elected to the Board of Directors for the United Way of Moore County - October 26, 2005 - Crescent State Bank

Eric Vernon, a Sanford resident, won the drawing at Crescent State Bank’s Sanford office ribbon cutting and grand opening celebration. Doug Gay, City Executive for the bank’s Sanford office, a wholly-owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN), presented Vernon, with an Apple iPod - October 20, 2005 - Crescent State Bank

Crescent Financial Corporation (Nasdaq National Market: CRFN ), parent company of Crescent State Bank, reported unaudited net income for the three-month period ended September 30, 2005 of $845,000 or $0.19 per diluted share compared to $661,000 or $0.15 per diluted share for the three-month period ended September 30, 2004, an increase of 26.7% on a per share basis. - October 17, 2005 - Crescent State Bank

Michael G. Carlton, President of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN), has named Rod Webb, Senior Vice President, as a Commercial Loan Officer responsible for business development in Raleigh and greater Wake County. - October 13, 2005 - Crescent State Bank

Bob Myers, Holly Springs City Executive of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has received the Rotary International Membership Development and Extension Award for the Holly Springs chapter of Rotary Club. - September 19, 2005 - Crescent State Bank

Crescent Financial Corporation (Nasdaq: CRFN), the holding company for Crescent State Bank, today announced that it has filed a registration statement on Form S-2 with the Securities and Exchange Commission relating to a proposed underwritten public offering of 765,000 shares of common stock - September 13, 2005 - Crescent State Bank

Bob Myers, City Executive of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has received a Presidential Citation from Rotary International on behalf of the Holly Springs chapter of the Rotary Club - September 06, 2005 - Crescent State Bank

Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq Small Cap CRFN), has announced that the organization has opened a new operations center located at 206 High House Road in Cary - September 01, 2005 - Crescent State Bank

Michael G. Carlton, President of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Susan Watkins has joined the organization as Community Banker and Assistant Vice President at the Pinehurst office - August 31, 2005 - Crescent State Bank

Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq Small Cap CRFN), has announced that it has joined the Russell MicrocapÔ Index - August 19, 2005 - Crescent State Bank

Kevin Dail, Community Banker at Crescent State Bank’s Cary location, received the 2005 Crosswinds District Friends of Scouting Award. - August 08, 2005 - Crescent State Bank

Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Community Banker, Lewyn Hayes will serve as a member of the Holly Springs Chamber of Commerce’s Ambassador Club. - August 03, 2005 - Crescent State Bank

Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Alex Macklin will serve as a member of the Holly Springs Chamber of Commerce’s Ambassador’s Club. In this volunteer position, Macklin will represent the Holly Springs Chamber of Commerce at business functions and act as a liaison between the Chamber and its members. - July 21, 2005 - Crescent State Bank