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Crescent State Bank

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Crescent State Bank Receives Special Citation Award

Raleigh, NC, June 25, 2010 --( Michael G. Carlton, president of Crescent State Bank (, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that the company has received a special citation award from The Southern Pines Recreation & Parks Department. The award was presented to Jim Byrd, senior vice president at the bank, and Lee Riggsbee, vice president at the bank, for Crescent’s support and its employees’ volunteered time to multiple programs including: an annual t-ball league, movie in the park and annual holiday events. The special citation award was presented to organizations that have provided special services to help advance the recreation and parks field by sponsoring a program or developing a new program.

“We are honored to be presented with the special citation award,” said Carlton. “The employees at Cresecent State Bank enjoy volunteering and we are proud to hear that our support has helped make a difference within the Southern Pines recreational field.”

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- Crescent State Bank provides financial support for annual t-ball leagues for youths age 5 to 7 years old. The Southern Pines league had 128 participants this year and, with help from Crescent State Bank, was able to supply jerseys for all the kids.

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $1 billion, deposits of $713.8 million, and net loans of $727.7 million as of March 31, 2010. The bank operates 15 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh (3), 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.

Kate Catlin
MMI Public Relations
(919) 233-6600

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Crescent State Bank
Patty Briguglio

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