Crescent State Bank
Crescent State Bank

Crescent State Bank Names New Assistant Vice President

Sarah Martin Joins Community Bank’s Preston Location.

Raleigh, NC, May 19, 2006 --( Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ National Market: CRFN), has announced that Sarah Martin will join the Preston office as the new assistant vice president and senior community banker. In this position, Martin will be responsible for consumer and commercial lending, business development and community relations.

“As a seasoned banker, Sarah is a great addition to our Crescent State Bank team,” said Carlton. “She has worked in the market for 15 years and is very knowledgeable of the Cary community.”

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.


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)
7406-H Chapel Hill Road
Raleigh, NC 27607
Crescent State Bank
Patty Briguglio