Crescent State Bank Awards New Customer $1,000 for Opening Free Rewards Checking Account

Cary, NC, August 15, 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 new customer Ann Buddenhagen won a $1,000 drawing for opening a Rewards Checking Account and received her prize on Aug. 10 at Crescent State Bank’s new 4711 Six Forks Road location in Raleigh. Buddenhagen was presented with a $500 check for her personal use and a $500 check to be donated to the charity of her choice, Diabetes Management Solutions, an organization that provides diabetes education and support to people living with diabetes in underserved communities or populations in North Carolina. Crescent State Bank offered this drawing to all new Rewards Checking clients to celebrate the opening of its new Six Forks Road location.

Crescent State Bank is headquartered in Cary, N.C., with additional bank locations in Apex, Raleigh, Holly Springs, Clayton, Southern Pines, Pinehurst, Sanford, Knightdale, Wilmington and Garner.

“We are proud to award a new customer with $1,000 for opening a Rewards Checking Account,” said Carlton. “This promotion not only rewarded Ann Buddenhagen, but it also gives back to the community, which is important to Crescent State Bank.”

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 $706.5 million, and net loans of $762.2 million as of June 30, 2009. The bank operates 15 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh (3), 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