Crescent State Bank President and Chief Financial Officer to Speak at 13th Annual Community Bank Conference

Cary, NC, August 16, 2008 --(PR.com)-- Michael G. Carlton, president of Crescent State Bank (www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation, will address the 13th Annual Community Bank Conference in Chicago at 3:10 p.m. on Tuesday, Aug. 19. Carlton will provide an investor update on Crescent Financial Corporation with Bruce Elder, chief financial officer of Crescent State Bank. The presentation will be accessible “live” during the conference at www.howebarnes.com. The conference, which runs August 19-20, is hosted by Howe Barnes Hoefer & Arnett, Inc. and will be held in the Ritz-Carlton Chicago.

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $920.6 million, deposits of $653.7 million, and net loans of $734.0 million as of June 30, 2008. The bank operates 13 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale and Wilmington (2), North Carolina. For more information, visit www.crescentstatebank.com.

###

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.

Patty Briguglio
MMI Associates, Inc.
(919) 233-6600
patty@mmimarketing.com
PR Firms Raleigh, NC