Crescent State Bank
Crescent State Bank

Crescent State Bank Names New Appraisal and Evaluation Administrator

Alice M. Ligon Joins Community Bank

Cary, NC, July 02, 2011 --( Michael G. Carlton, president of Crescent State Bank (, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced Alice M. Ligon has been named appraisal and evaluation administrator for the bank. In this position, Ligon will oversee commercial and residential appraisal activities for the bank. With more than 30 years of experience in the real estate and appraisal industry, Ligon worked as an appraisal review officer at a local community bank prior to joining Crescent State Bank.

“We are excited to welcome Alice Ligon to Crescent State Bank,” said Carlton. “Her passion for real estate and appraisal expertise will make her an asset to our team and community.”

- Originally from Northern Virginia, Ligon currently resides in Cary, N.C.

- Active in her local community, Ligon works with several nonprofits that target the homeless and those in need of home repairs or alterations. She is an active member of the North Carolina Association of Realtors, the North Carolina Professional Appraisers Coalition, the National Association of Realtors and the Cary Chamber of Commerce.

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Company has total assets of $959.6 million, deposits of $725.2 million, and gross loans of $652.8 million as of March 31, 2011. 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

Crescent State Bank
Patty Briguglio