Crescent State Bank
Crescent State Bank

Crescent State Bank Vice President Named Chair of 2009 Raleigh Business Expo

Cary, NC, October 18, 2008 --( Michael G. Carlton, president of Crescent State Bank (, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that Sally Neuman, vice president at the bank, has been named chair of the 2009 Raleigh Business Expo presented by the Greater Raleigh Chamber of Commerce. The event is the largest business-to-business trade show in the area and gives local businesses the opportunity to network with others in their industry. Neuman will assist the Chamber in strategic planning and setting the overall direction of the event.

“I am excited to lead this year’s Chamber Business Expo,” said Neuman. “This event offers a number of opportunities for area businesses to connect and share ideas.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $920.6 million, deposits of $653.7 million, and net loans of $734.0 million as of June 30, 2008. The bank operates 13 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale and Wilmington (2), North Carolina. For more information, visit


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
PR Firms Raleigh, NC
Crescent State Bank
Patty Briguglio