Crescent State Bank Announces Customer Appreciation Day At Stoneybrook Steeplechase

Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq SmallCap CRFN), has announced a Customer Appreciation Day to be held at the 53rd annual Stoneybrook Steeplechase on Saturday April 3rd at the Carolina Horse Park in Southern Pines, NC.

Southern Pines, NC (PRWEB) March 27, 2004 --Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq SmallCap CRFN), has announced a Customer Appreciation Day to be held at the 53rd annual Stoneybrook Steeplechase on Saturday April 3rd at the Carolina Horse Park in Southern Pines, NC. The Crescent State Bank VIP tent, located at the finish line, will host 250 invited customers starting at 9 am providing food, beverages, and entertainment throughout the day.

Our Customer Appreciation Day will be a wonderful opportunity for us to give back to the people we serve throughout the year," said Jim Byrd, City Executive in Southern Pines. The Stoneybrook Steeplechase serves a great cause and offers Crescent team members a chance to interact with our customers and support a great event."

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 $274 million and deposits of approximately $219 million, with seven full service banking offices in the communities of Cary, Apex, Clayton, Holly Springs, Southern Pines and Pinehurst, North Carolina. The bank also has a loan production office in Sanford, NC.
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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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Contact: Patty Briguglio (919) 461-3831