Cynthia Nation Joins Crescent State Bank

Released on = October 5, 2005, 6:42 am

Press Release Author = MMI Associates, Inc.

Industry = Small Business

Press Release Summary = Michael G. Carlton, President of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN), has announced that Cynthia Nation, Senior Vice President, has joined Crescent State
Bank as a Commercial Loan Officer.

Press Release Body = MMI Associates, Inc.
7406-H Chapel Hill Road
Raleigh, NC 27607
(919) 233-6600 • (919) 233-0300 (fax)
patty@mmimarketing.com

For Immediate Release
Contact: Patty Briguglio (919) 233-6600

Cynthia Nation Joins Crescent State Bank
Commercial Loan Officer Joins Community Bank

Raleigh, NC – Michael G. Carlton, President of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN), has announced that Cynthia Nation, Senior Vice President, has joined Crescent State Bank as a Commercial Loan Officer. In this position Nation will be responsible for business
development for Raleigh and the greater Wake County area. A Goldsboro native, Nation has over 20 years of successful experience in the banking industry including her most recent position at Southtrust Bank as a Commercial Lender. Nation received her
B.S. in Accounting from North Carolina State University and completed the Louisiana State University Graduate School of Banking program.

"Cynthia is an excellent addition to our team," said Carlton. “We are fortunate to welcome such a prominent player in the commercial lending business to Crescent State Bank.

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank opened in December 1998 to cater to the financial needs of the communities it serves. The bank has total assets of approximately $393 million, deposits of approximately $323 million, and loans of $297million as of June 30, 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.
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Investors can access additional corporate information, product descriptions, and online services through the Bank’s website at http://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 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.

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

Web Site = http://

Contact Details = MMI Associates, Inc.
7406-H Chapel Hill Road
Raleigh, NC 27607
(919) 233-6600 • (919) 233-0300 (fax)
patty@mmimarketing.com