Crescent State Bank Announces New Hire

Knightdale, NC, January 03, 2008 --(PR.com)-- Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global MarketSM), has announced that Jeff W. Eddins has joined the bank’s Knightdale office as community banker. In this position, Eddins will be responsible for handling loan requests for business and personal needs, as well as improving relationships with current customers and developing new relationships within the Knightdale community on behalf of Crescent State Bank.

Eddins has 13 years of banking industry experience with State Employees’ Credit Union. He is working towards his B.A. degree in the Leadership in the Public Sector Program at North Carolina State University. He is a member of the Home Builders Association of Raleigh-Wake County and the East Wake Realtors® Association. Active in the community, he is serving his third term on the Knightdale City Council and is a member of the Wake County Economic Development Committee and the Knightdale Public Safety Committee and Nominating Committee. A native of Zebulon, N.C., he currently resides in Knightdale with his wife, Jennifer, and three daughters, Candace, Grace and Harris.

“We are pleased to welcome Jeff to our Knightdale office,” said Carlton. “His commitment to the Knightdale community coupled with his banking experience will service Crescent State Bank well.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $814 million, deposits of $596 million, and net loans of $643 million as of Sept. 30, 2007. The bank operates 12 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Knightdale, Sanford, Southern Pines, Pinehurst, Raleigh and Wilmington, 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