Crescent State Bank Hosts Shred-A-Thon And Fighting Fraud Seminar

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 the bank will host Fighting Fraud, the first event in the Centsibility Series, on Thursday, Oct. 16 from 4 to 7 p.m. at the Cary Chamber of Commerce, located at 307 N. Academy St. The event will include a Shred-a-thon and Fighting Fraud Seminar, featuring a panel of fraud experts.

This event is the first in Crescent State Bank’s Centsibility Series. The series, not just for clients, is designed to educate seniors, families, and business owners on a variety of financial topics such as identity theft and fraud. This community event will focus on the importance of discarding personal documents and sensitive material properly. There will be a shredding truck available from 4 to 5:30 p.m. for those present to dispose of any items containing names, birthdates, and account numbers. For more information on this event and the Centsibility Series, visit www.crescentstatebank.com/centsibility.

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News Facts:

• 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 the bank will host Fighting Fraud, the first event in the Centsibility Series, on Thursday, Oct. 16 from 4 to 7 p.m. at the Cary Chamber of Commerce, located at 307 N. Academy St.
• The event will include Shred-a-thon and Fighting Fraud Seminar, featuring a panel of fraud experts.
• Centsibililty Series, not just for clients, is designed to educate seniors, families, and business owners on a variety of financial topics such as identity theft and fraud.
• A shredding truck will be available from 4 to 5:30 p.m. to discard old documents containing names, birthdates, and account numbers.
• For more information on the event and the Centsibility Series, visit www.crescentstatebank.com/centsibility.

Quotes:
"We hope that this event will encourage people to protect themselves from identity theft by discarding personal documents properly," said Carlton. "This will be a positive start to the Centsibility Series."

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $920.6 million, deposits of $653.7 million, and net loans of $734.0 million as of June 30, 2008. The bank operates 13 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale and Wilmington (2), North Carolina. For more information, visit www.crescentstatebank.com.

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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 Corporation, Michael G. Carlton, NASDAQ Global MarketSM, , Cary Chamber, Centsibility Series, Fighting Fraud

Patty Briguglio
MMI Associates, Inc.
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