Crescent State Bank Sponsors Greater Raleigh Chamber of Commerce Conference

Cary, NC, January 29, 2009 --(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 that the bank will sponsor the Greater Raleigh Chamber of Commerce’s Chamber Executive Women’s Luncheon on Thursday, Jan. 29 from 11:30 a.m. to 1:30 p.m. at the Hilton North Raleigh, located at 3415 Wake Forest Road in Raleigh. At the event, Barbara Stoker, one of the country’s foremost thinkers on women and risk, will present on “Positive Risk” to encourage women to step beyond theory and become actively involved and focused on the mountains they are tackling in their own lives.

Crescent State 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.

“We are pleased to be a part of the Chamber Executive Women’s Luncheon,” said Carlton. “It is important to support the development and growth of women in business, and we are proud to join that effort.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $955.5 million, deposits of $711.6 million, and net loans of $759.1 million as of Sept. 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