Crescent State Bank Announces Garner Grand Opening

Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq SmallCap CRFN), has announced that the Garner office will host a ribbon cutting ceremony and grand opening celebration on February 23rd at 12:00 p.m. for the organizations new Garner office at 574 Village Court in the Garner Village Shopping Center.

Garner, NC (PRWEB) February 20, 2005 -- Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq SmallCap CRFN), has announced that the Garner office will host a ribbon cutting ceremony and grand opening celebration on February 23rd at 12:00 p.m. for the organizations new Garner office at 574 Village Court in the Garner Village Shopping Center. The ceremony will include remarks from Garner community leaders. Also expected to be present are Mike Carlton, President of Crescent State Bank, members of the Crescent State Bank Board of Directors, Advisory Boards, and the other bank officers from each town. In honor of this event, those registered are eligible to win tickets to a Las Vegas racing weekend for two, including airfare and three nights accommodations. To register for the drawing, visit Crescent State Banks Garner branch by February 23rd.

Garner is a vibrant and growing community and we are honored to be a part of the economic development and successful growth of this community. 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 Julie Clark, Community Banker of Garner.

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 $274 million as of December 31, 2004, with nine full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, 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.

Media and Press Contacts:
Patty Briguglio
MMI Associates, Inc.
919-233-6600
Patty@mmimarketing.com

###