Crescent State Bank Names New Vice President And Commercial Relationship Banker

Community Bank Hires Felicia Evans Woodard In Cary. End Quote

Raleigh-Durham-Chapel Hill, NC (1888PressRelease) September 24, 2010 - Michael G. Carlton, president of Crescent State Bank (http://www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global MarketSM), has announced that Felicia Evans Woodard has joined the bank's Cary office as vice president and commercial relationship banker. In this position, Woodard will build and maintain strong client relationships and assist with past due management, loan reviews and renewals, maintain proper documentation, loan underwriting and grow loans and deposits.

QUOTES:
"We're excited to have someone with Felicia's level of experience join our team," said Carlton. "Her industry knowledge and customer service abilities make her an asset to our clients as well as our organization."

DETAILS:
- Woodard has more than 14 years of industry experience.

- Active in the local community, Woodard is a PTA board member at her son's school, a member of the finance ministry at her church and volunteers with the Girls and Boys Club of Wake County.

- A native of Raleigh, N.C., Woodard received her Bachelor of Science in mathematics from N.C. Central University in Raleigh, and now resides in Knightdale, N.C. with her husband and two sons.

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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