Crescent State Bank President Speaks at Local Chapter of National Association of Investment Clubs

Cary, NC, February 01, 2007 --(PR.com)-- Michael Carlton, president of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global Market SM), will be the guest speaker at the Stock Study Group of the Central North Carolina Chapter (CNCC) of the National Association of Investment Clubs (NAIC) Saturday, Feb. 3 from 9:30-11:30 a.m. at the Herbert Young Community Center on 101 Wilkinson Ave. in Cary. The meeting will focus on the banking industry. The CNCC is the governing body for nearly 200 investment clubs in the central and eastern North Carolina areas that have approximately 1,500 members. For more information or to register, contact Sandy Caster, director and facilitator for the Stock Study Group, at (919) 387-9286 or e-mail casters@mindspring.com.

About Crescent Financial Corporation:
Crescent Financial Corporation is the bank holding company for Crescent State Bank in Cary, North Carolina and Port City Capital Bank in Wilmington, North Carolina. The Company has total assets of approximately $698 million, deposits of approximately $542 million, and loans of $543 million as of December 31, 2006, with eleven full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh and Wilmington, North Carolina.

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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