Crescent State Bank Employee Earns Credit Risk Certification

Michael G. Carlton, president of Crescent State Bank (www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that Matt King has earned his credit risk certification through the Risk Management Association (RMA). The risk certification is awarded after the successful completion of an examination covering industry credit practices. A portfolio manager at Crescent State Bank, King oversees credit and cash flow analysis, loan underwriting and annual reviews of large loans within the portfolio.

The RMA is a not-for-profit, member-driven professional association, whose sole purpose is to advance the use of sound risk principles in the financial services industry. RMA promotes an enterprise-wide approach to risk management that focuses on credit risk, market risk and operational risk.

King earned his bachelor’s degree at North Carolina State University in business management. A native of Concord, N.C., he resides in Holly Springs, N.C.

Related Links:
www.crescentstatebank.com
www.raleighchamber.org
www.rmahq.org/RMA/

News Facts:
• Crescent State Bank (www.crescentstatebank.com), has announced that Matt King has earned his credit risk certification through the Risk Management Association (RMA).
• The risk certification is awarded after the successful completion of an examination covering industry credit practices.
• A portfolio manager at Crescent State Bank, King oversees credit and cash flow analysis, loan underwriting, and annual reviews of large loans within the portfolio.
• The RMA is a not-for-profit, member-driven professional association, whose sole purpose is to advance the use of sound risk principles in the financial services industry.
• RMA promotes an enterprise-wide approach to risk management that focuses on credit risk, market risk and operational risk.
• King earned his bachelor’s degree at North Carolina State University in business management. A native of Concord, N.C., he resides in Holly Springs, N.C.

Quotes:
"We are excited Matt was able to achieve this distinction," said Carlton. "It reflects his commitment to excellence in knowledge and customer service."

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank has total assets of $835.5 million, deposits of $605.4 million, and net loans of $667.6 million as of December, 31, 2007. The bank operates twelve full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale, and Wilmington, North Carolina. For more information, visit www.crescentstatebank.com.

(end)

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 Corporation’s 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.

Keywords:
Crescent State Bank, Crescent Financial, Global NASDAQ, Michael G. Carlton, Stock Report, CRFN, Quarterly Report, North Carolina Banks, North Carolina Banking, Triangle Banks, Triangle Community Banks, Federal Deposit Insurance Corporation, Matt King, Commercial Bank Loans, Real Estate Bank Loans, Greater Raleigh Chamber of Commerce, Risk Management Association, credit risk certification

Patty Briguglio
MMI Associates, Inc.
(919) 233-6600
patty@mmimarketing.com
PR Firms Raleigh, NC

(end)