Brad Simpson Named To Crescent State Bank’s Sanford Advisory Board

Released on = July 14, 2005, 8:14 am

Press Release Author = MMI Associates

Industry = Financial

Press Release Summary = Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Brad Simpson has joined the bank’s Sanford Advisory Board.

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

Brad Simpson Named To Crescent State Bank’s Sanford Advisory Board Local Business Owner Named To Bank Board

Sanford, NC – Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Brad Simpson has joined the bank’s Sanford Advisory Board. The Advisory Board acts as a liaison between the bank and the community and advises the organization on how to better serve Sanford. Simpson, owner of David H. Simpson Construction Company, Inc., will be joined by Lowell White Rickard, Norman Charles Post, Jr., Mildred S. Pretty, and John C. Daniel, III.

“Simpson brings a wealth of knowledge and experience to our organization. We are honored to have him on our Board and look forward to his help in serving the community,” said Doug Gay, City Executive of Sanford.

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.(end)

Investors can access additional corporate information, product descriptions, and online services through the Bank’s 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 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:
Patty Briguglio
MMI Associates, Inc.
919-233-6600
Patty@mmimarketing.com

Web Site = http://

Contact Details = Patty Briguglio
MMI Associates, Inc.
North Carolina:
7406-H Chapel Hill Road
Raleigh, NC 27607
919-233-6600

Arizona:
7150 N. 16th Street, Suite 100
Phoenix, AZ 85020
602-430-4421