Released on = November 29, 2005, 6:10 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 National Market: CRFN), has announced that it has been
recognized as one of the Top 200 Publicly Traded Community Banks by U.S. Banker
Magazine.

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 Named To Top 200 List
By US Banker Magazine
Local Community Bank Recognized As A Top Bank In U.S.

CARY, NC - Crescent State Bank, the wholly owned subsidiary of Crescent Financial
Corporation (Nasdaq National Market: CRFN), has announced that it has been
recognized as one of the Top 200 Publicly Traded Community Banks by U.S. Banker
Magazine. Crescent State Bank was ranked 159 based on performance and a 3-year
average return on equity (ROE) as of December 31, 2004. U.S. Banker Magazine
published the list in their July 2005 edition.

"Crescent State Bank is honored to be named one of the top 200 community banks in
the nation," said Michael Carlton, President. "This recognition is the result of
several years of hard work by a very dedicated group of directors, management and
employees."

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 $405 million, deposits of
approximately $313 million, and loans of $318 million as of September 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, and a
loan production office in Raleigh.

Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.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.



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