Crescent State Bank
Crescent State Bank

Crescent Financial Corporation Executive to Present at National Conference

Michael Carlton Speaks at 11th Annual Community Bank Conference.

Cary, NC, August 18, 2006 --( Michael G. Carlton, president and CEO of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), will speak at the 11th Annual Community Bank Conference hosted by Howe Barnes on August 21 from 2:50 p.m. to 3:30 p.m. in Chicago. Carlton, along with Bruce Elder, CFO Crescent State Bank, will discuss the performance and strategies of Crescent State Bank. The presentation slides will be filed with the Securities and Exchange Commission prior to the start of the conference and be accessible “live” on

Please Note: Once on this page, participants will need either Real Player or Media Player to listen to the live broadcast and should go to the website at least fifteen minutes early to download and install any necessary audio software.

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 $471 million, deposits of approximately $370 million, and loans of $360 million as of June 30, 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.
7406-H Chapel Hill Road
Raleigh, NC 27607
(919) 233-6600 • (919) 233-0300 (fax)
Crescent State Bank
Patty Briguglio