Crescent State Banks Holly Springs Branch Opens New Office

Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq SmallCap CRFN), has announced that the Holly Springs branch has opened their permanent 3500 square foot location at 700 Holly Springs Road in Holly Springs.

Raleigh, NC (PRWEB) February 6, 2004 --Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq SmallCap CRFN), has announced that the Holly Springs branch has opened their permanent 3500 square foot location at 700 Holly Springs Road in Holly Springs. The company purchased two adjacent lots at the corner of Bass Lake Road and Holly Springs Road. A formal grand opening ceremony will be held in February.

Our philosophy is to offer superior customer service and state-of-the-art technology to give our valued customers the conveniences of a large bank with the friendly, personal attention you expect from a community bank," said Bob Myers, City Executive of Holly Springs.

Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank was opened in December 1998 to serve the financial needs of the communities it serves. The bank has total assets of approximately $273 million and deposits of approximately $235 million, with seven full service banking offices in the communities of Cary, Apex, Clayton, Holly Springs, Southern Pines and Pinehurst.

Investors can access additional corporate information, product descriptions, and online services through the Banks website at 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 Corporations 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.

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