Crescent State Bank
Crescent State Bank

Crescent State Bank’s Paula Crocker Accepted Into the North Carolina School of Banking

Community Bank Sponsors Community Banker’s Enrollment

Pinehurst, NC, November 23, 2011 --( Crescent State Bank (, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that Paula Crocker, a Community Banker from the Pinehurst branch, has been accepted to the North Carolina School of Banking. Her enrollment with the oldest state association banking school in the nation will be sponsored by Crescent State Bank. The school, held each summer on the campus of The University of North Carolina at Chapel Hill, is a four-year management program dedicated to expanding the skills and abilities of middle managers and prospective banking managers with the knowledge and skills necessary for advancement to senior positions.

“We are incredibly pleased for Paula,” said Jim Byrd, Senior Vice President and Market Executive for the Sandhills area. “I believe that her enrollment in the North Carolina School of Banking will have a positive impact on her professional banking career as well as the Pinehurst branch.”

- In order to measure performance throughout each student’s enrollment in the program, there will be consistent examinations conducted during the freshman and sophomore years to provide both the student and the student’s bank with crucial feedback to gain insight into her progress.

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Company has total assets of $916 million, deposits of $686.2 million, and gross loans of $616 million as of September 30, 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