Mary Ann Freeman Named Crescent State Bank Branch Sales Manager

Raleigh, NC, June 27, 2009 --(PR.com)-- Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global MarketSM), has announced that Mary Ann Freeman has joined Crescent State Bank as branch sales manager at its new office, located at 7100 Creedmoor Road in Raleigh. As branch sales manager, Freeman will oversee all aspects of the branch office operation and provide sales and management leadership to create and enhance banking relationships. Freeman received a bachelor’s degree in education from Brenau College in Gainesville, Ga., and has more than 30 years of banking experience within the Raleigh area. For more information, visit www.crescentstatebank.com.

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“I am pleased to welcome Mary Ann to the Crescent State Bank community,” said Carlton. “Her extensive banking experience in the Raleigh area, combined with her positive attitude, will allow our bank continued growth and success as we establish this new location.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $1.1 billion, deposits of $731.6 million, and net loans of $773.8 million as of March 31, 2009. The bank operates 14 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh (2), 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