Crescent State Bank Announces New Leadership Team

Community bank adds nearly a decade of Triangle banking experience to portfolio. End Quote

(1888PressRelease) February 16, 2012 - RALEIGH, NC - Piedmont Community Bank Holdings, Inc. ("Piedmont") announced today the appointment of a new leadership team to head its recent acquisition, Crescent State Bank ("Crescent"). This new team is part of an overall move by Piedmont to strengthen and move the Crescent brand forward.

Leading Crescent as the Market President for the Raleigh/Triangle area is Chris Moore. With more than 22 years experience in banking at Wachovia Bank and most recently as Senior Vice President for Paragon Commercial Bank, Moore brings a wealth of knowledge and innovative ideas to Crescent.

"I have a long history of service in this industry to the people of NC," said Moore. "I plan to use that experience and the relationships I have developed over the years to better serve the banking needs of both existing and new Crescent customers in this community."

Also joining the team is David Rupp, who has been appointed to oversee Crescent's mortgage division. Rupp previously held the position of Chief Executive Officer for Greystone Bank for three years, as well as formerly being the Senior Executive Vice President of the Consumer Services Group at Regions Financial Corp.

Walter Ricks has joined Crescent as Director of Commercial Real Estate and has more than 30 years of experience in commercial and real estate lending. Ricks joins the team to help expand Crescent's portfolio with legitimate, non-speculative developers and will lend to projects including offices, retail and industrial properties.

Rounding out the new leadership team with more than 32 years of banking experience is Wanda Queen. Queen will serve as Crescent's President of Retail Banking and has vast experience in leading and coaching executive level management for retail sales, business banking and wealth management. One of Queen's main concentrations in her new position is to build on and foster Crescent's involvement in the communities it serves.

"With nearly a decade of combined banking experience, we are very excited and looking forward to the fresh outlook our newly appointed leadership team will bring," said Steve Jones, President of Crescent. "We feel confident that this group will build on our values of providing customers with an honest and relatable approach to community banking."

Crescent operates 15 full-service banking offices in the communities of Apex, Cary (two), Clayton, Garner, Holly Springs, Knightdale, Sanford, Southern Pines, Pinehurst, Raleigh (three) and Wilmington (two), NC. Piedmont acquired Crescent Financial Bancshares, Inc. (NASDAQ: CRFN) ("Crescent"), the parent company of Crescent, in December of 2011.

About Piedmont Community Bank Holdings, Inc.:
Piedmont Community Bank Holdings, Inc. is a bank holding company based in Raleigh, NC. Piedmont was formed in 2009 by local businessmen Adam Abram and Scott Custer to build a strong community banking franchise across the Carolinas and Virginia. Abram serves as Chairman of Piedmont's Board of Directors, Steven Lerner serves as Vice Chair and Custer serves as Piedmont's President and Chief Executive Officer.

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