Crescent State Bank Named To Business Alliance

Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq Small Cap CRFN), has announced that the organization has accepted membership into the Business Alliance for Business Education Leadership Council (BELC).

Cary, NC (PRWEB) December 12, 2004 -- Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq Small Cap CRFN), has announced that the organization has accepted membership into the Business Alliance for Business Education Leadership Council (BELC).    The Alliance, comprised of area businesses along with school administration officials, offers area schools experience and expertise through work-based, connecting and school-based activities supporting the schools instructional program. Debbie McLamb, Vice President of Crescent State Banks Cary branch located on Kildaire Farm Road, joined the Alliance as a representative of the Bank, participating in career fairs and business expos, educating students at local middle and high schools on vocations and career paths.

We are proud to be associated with the Business Education Leadership Council," said Mike Carlton, President of Crescent State Bank. We are confident in Debbies ability to represent our organization and convey the importance of education to students."

About The Business Education Leadership Council:
The Business Education Leadership Council (BELC) is dedicated to engaging business and community organizations to prepare students to be career focused and globally competitive. The organization recruits local businesses to form relationships with middle and high schools that support the schools instructional program.

About Crescent State Bank:
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 $331 million and deposits of approximately $275 million as of September 30, 2004, with eight full service banking offices in the communities of Cary (2), Apex, Clayton, Holly Springs, Sanford, Southern Pines, and Pinehurst, North Carolina.

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.

MMI Associates, Inc.
122 Ravenna Way, Suite 100
Cary, NC 27513
(919) 461-3831 • (919) 462-8289 (fax)
patty@mmimarketing.com

Contact:
Patty Briguglio
(919) 461-3831

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