Crescent State Bank
Crescent State Bank

Kate Tuomala Joins Crescent State Bank’s Moore County Advisory Board

Local Audiologist Named To Bank’s Advisory Board.

Southern Pines, NC, January 27, 2006 --( James F. Byrd, Senior Vice President of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq National Market: CRFN), has announced that Kate Tuomala, clinical audiologist and founder of Audiology of the Sandhills, has joined the bank’s Moore County Advisory Board. The Advisory Board acts as a liaison between the bank and the community and advises the organization on how to better serve the community. Since founding Audiology of the Sandhills, a full diagnostic hearing clinic, Tuomala has received nationally recognized awards such as Audiologist of the Year from the Audiologist Resource Association. Tuomala has also served as Chairman of the Moore County Chamber of Commerce Board of Directors and as the first female president of the Southern Pines Rotary Club.

“I am pleased to welcome Kate to our Board,” said Byrd. “She is a well-respected business woman active in many community activities.”

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.

Media and Press Contacts:
MMI Associates, Inc.
Patty Briguglio
(919) 233-6600 • (919) 233-0300 (fax)
7406-H Chapel Hill Road
Raleigh, NC 27607
Crescent State Bank
Patty Briguglio