Lewyn Hayes Named To Board of Clarence E. Lightner Youth Leadership Endowment Fund

Lewyn Hayes, Assistant Vice President and Community Banker of the Holly Springs Office of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq SmallCap CRFN), has been named to the Board of Directors of The Clarence E. Lightner Youth Endowment Fund.

Holly Springs, NC (PRWEB) July 2, 2005 -- Lewyn Hayes, Assistant Vice President and Community Banker of the Holly Springs Office of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation (Nasdaq SmallCap CRFN), has been named to the Board of Directors of The Clarence E. Lightner Youth Endowment Fund.

This fund helps to develop programs to challenge young people to embrace leadership responsibilities in their communities.

The youth are an important part of our community. By providing programs that teach them to become better leaders we are offering them a constructive environment for developing good leadership skills, which in turn allows them to have a positive impact on the community," said Hayes.

About The Clarence E. Lightner Youth Leadership Endowment Fund:
The Fund was created in honor of Clarence E. Lightner, who spent his life offering gracious and sustained service to his hometown of Raleigh and his home state of North Carolina. He was known as a committed leader and visionary statesman and for his commitment to encouraging youth to make the right choices in life. The fund uses the interest or earnings generated on an annual basis for programs geared toward increasing the leadership abilities of the youth in the community. For more information please visit the website at http://www.lightnerfund.org/.

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 $354 million, deposits of approximately $285 million, and loans of $278 million as of March 31, 2005, 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.

MMI Associates, Inc.
7406-H Chapel Hill Road
Raleigh, NC 27607
(919) 233-6600 • (919) 233-0300 (fax)

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

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