Crescent State Bank Security Director Discusses Fighting Fraud Seminar and Shred-a-thon Event

Cary, NC, October 16, 2008 --(PR.com)-- Michael G. Carlton, president of Crescent State Bank (www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global Market SM), has announced the release of an audio podcast discussing Fighting Fraud, the first event in Crescent State Bank’s Centsibility Series. In the podcast, Jo Sorbi, security director for the bank, describes what attendees can expect from Fighting Fraud, an event designed to educate the community on the dangers of identity theft. Sorbi provides a list of sensitive material attendees should bring to shred in addition to an overview of future events scheduled for the Centsibility Series.

Fighting Fraud will take place on Thursday, Oct. 16 from 4 to 7 p.m. at the Cary Chamber of Commerce, located at 307 N. Academy St. This community event will focus on the importance of discarding personal documents and sensitive material properly. The event will include a Shred-a-thon and Fighting Fraud Seminar, featuring a panel of fraud experts. The Centsibility Series, not just for clients, is designed to educate seniors, families, and business owners on a variety of financial topics such as identity theft and fraud.

The podcast is available for download at http://www.mmimarketing.com/files/josorbifightingfraud.mp3.

“I am pleased to announce the formal release of Crescent State Bank’s podcast on Fighting Fraud,” said Carlton. “This event will educate the community on beating identity theft and serve as a positive start to our Centsibility Series.”

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.

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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