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Crescent State Bank

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Crescent State Bank Participates in Teach Children to Save Program

Wilmington, NC, May 23, 2009 --( Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global MarketSM), has announced that the bank’s Wilmington location has enrolled in the American Bankers Association Education Foundation’s Teach Children to Save program. The initiative is led by Megan Shannahan, community banker for Crescent. In honor of the 13th annual Teach Children to Save Day on April 21, Crescent State Bank employees met with the Community Boys and Girls Club of Wilmington and 2nd graders at South Topsail Elementary School in Hampstead, N.C. The bank has also hosted a local Girl Scout troop and expects to meet with additional groups as part of this initiative.

The Teach Children to Save program instills the importance of developing smart savings habits at a young age. In 2009, the program’s Million Child Challenge launched with the goal of teaching savings lessons to one million children nationwide. At present, more than 400,000 children have participated in the program.

“We are excited about Crescent’s participation in the Teach Children to Save program,” said Carlton. “Teaching children early on about the importance of saving will create a generation of informed consumers.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $1.1 billion, deposits of $731.6 million, and net loans of $773.8 million as of March 31, 2009. The bank operates 14 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh (2), 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

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Crescent State Bank
Patty Briguglio

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