Crescent
State Bank Joins Microcap Index
Released on
= August 19, 2005, 8:08 am
Press Release
Author = MMI Associates, Inc.
Industry = Small
Business
Press Release
Summary = Crescent State Bank, the wholly owned subsidiary of Crescent
Financial Corporation (Nasdaq Small Cap CRFN), has announced that
it has joined the Russell MicrocapÔ Index
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
Crescent State
Bank Joins Microcap Index
Community Bank Joins New Stock Index
Raleigh –
Crescent State Bank, the wholly owned subsidiary of Crescent Financial
Corporation (Nasdaq Small Cap CRFN), has announced that it has joined
the Russell MicrocapÔ Index. The newly launched Russell Microcap
Index debuted on July 1, 2005 and is a measurement of performance
for the microcap segment. It is widely used by investment managers
and institutional investors for index funds and as benchmarks for
both passive and active investment strategies.
“Crescent
State Bank is honored to be selected for the Russell Microcap Index,”
said Michael Carlton, President. “Being listed in the index
reflects our considerable earnings growth and will increase our
visibility in the financial market.”
About the Russell
MicrocapÔ Index:
The index offers portfolio managers and other investors a comprehensive,
unbiased barometer to compare their performance against the genuine
microcap marketplace of stocks. The newly launched Russell Microcap
Index is comprised of the smallest 1,000 securities in the small-cap
Russell 2000Ô Index based on a ranking of all U.S. equities
by market capitalization.
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. (end) 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.
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
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