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Crescent State Bank
 

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Crescent State Bank

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Crescent State Bank Expands Mortgage Department


Community Bank Adds to Growing Mortgage Department

Cary, NC, October 02, 2010 --(PR.com)-- Michael G. Carlton, president of Crescent State Bank (http://www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global MarketSM), has announced that the company is expanding its mortgage division. The bank is adding two new employees to its mortgage department to handle the increase in applications and efficiently serve its clients. In recent months, Crescent State Bank has seen an increase in mortgage applications and refinances due in part to the federal home buyers tax credit.

Sara Ivey Hodge has joined the bank as a mortgage loan consultant and will pre-approve loans to future homeowners and advise clients on lenders and programs. With more than seven years of experience in the mortgage loan industry, Hodge will also collaborate with processors, underwriters and attorneys to ensure smooth processing for clients.

Maureen Brown has joined the bank as a mortgage account executive and will be responsible for collaborating with processors, underwriters and attorneys to ensure smooth processing for clients. With more than 23 years of experience in the mortgage industry, she is an active member of the Neighborhood Community Watch and the Leukemia–Lymphoma Society. A native of Chicago, Brown received her bachelor’s degree in business administration from Slippery Rock State University in N.Y., and now resides in Morrisville with her two children.

Quotes:
“We are pleased to have Sara and Maureen join our mortgage team,” said Carlton. “Their strong educational backgrounds and level of professional experience in the financial industry make them assets for our clients as well as our organization.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $985.7 million, deposits of $722.2 million, and gross loans of $709.4 million as of June 30, 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 http://www.crescentstatebank.com.

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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
kate@mmipublicrelations.com
http://twitter.com/MMIPR
http://www.mmipublicrelations.com
Contact Information
Crescent State Bank
Patty Briguglio
919-233-6600
Contact
www.mmipublicrelations.com

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