Raleigh, NC, December 09, 2005 --(PR.com
)-- Michael Carlton, president of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq National Market: CRFN), has announced that the bank has been named as one of the Top 100 ranked businesses in ‘The Financial 100’ listing in Business North Carolina magazine. Crescent State Bank was ranked 43rd place in the state, rising 12 spots from last year’s report.
“We are delighted to be recognized as one of the top 100 businesses in the state,” said Carlton. “North Carolina is our home and this recognition makes our efforts to be a good corporate citizen worthwhile.”
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 $405 million, deposits of approximately $313 million, and loans of $318 million as of September 30, 2005, with nine full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, and Pinehurst, North Carolina, and a loan production office in Raleigh.
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.
MMI Associates, Inc.
(919) 233-6600 • (919) 233-0300 (fax)
7406-H Chapel Hill Road
Raleigh, NC 27607