Crescent State Bank Community Banker Re-Appointed To Wake County Growth Issues Task Force

Jeff Eddins Named To Reconvened Wake County Growth Task Force. End Quote

Raleigh-Durham-Chapel Hill, NC (1888PressRelease) October 08, 2010 - Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global MarketSM) (http://www.crescentstatebank.com), has announced that Jeff W. Eddins, community banker and branch manager for Crescent State Bank's Knightdale location, has been re-appointed to the reconvened Wake County Growth Issues Task Force. Made up of local officials and business leaders, the task force examines growth management strategies that will help Wake County balance growth and preserve the quality of life that its citizens have come to expect.

QUOTES:
"I am pleased to see Jeff re-appointed to the Growth Issues Task Force," said Carlton. "He has been a dynamic leader in the Knightdale community, and he is well positioned to offer tremendous insight into the growth in that area."

DETAILS:
- The Wake County Growth Issues Task Force has three priorities, including a high-quality education system, increased mass transit opportunities, and local government joint planning and cooperation.

- For more information on the task force, visit http://bit.ly/aGKtDD.

ABOUT CRESCENT STATE BANK:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $985.7 million, deposits of $722.2 million, and gross loans of $709.4 million as of June 30, 2010. 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 http://www.crescentstatebank.com.

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.

Kate Catlin
MMI Public Relations
(919) 233-6600
kate ( @ ) mmipublicrelations dot com
http://twitter.com/MMIPR
http://www.mmipublicrelations.com

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