Cary, NC -- (SBWIRE) -- 06/27/2011 -- Michael G. Carlton, president of Crescent State Bank (http://www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that Gary L. Williams has been named vice president, branch sales manager for the bank’s Preston office in Cary. In this position, Williams will oversee office operations and provide sales and management expertise to enhance current banking and loan relationships. In addition, Williams will serve as the chairperson for the Crescent State Bank Cary Junior Bank Board, which aims to help Cary High School students develop leadership skills and teach them the fundamentals of banking and the business community.

QUOTES:
“I am pleased to welcome Gary to the Crescent Bank team,” said Carlton. “We believe his previous banking experience and leadership skills will allow him to contribute great things to the continued growth and success of our company.”

DETAILS:
- Williams obtained his bachelor’s degree in computer science and business management from Old Dominion University in Norfolk, Va.

- Active in the local community, Williams is a member of the stewardship committee at St. Raphael Catholic Church as well as the school advisory council at St. Raphael Catholic School.

-Williams is a Rotarian as well as a member of the Greater Raleigh Chamber of Commerce, Capital City Toastmasters and the Cary Chamber of Commerce, where he is an ambassador and serves on the education board.

- Hailing from a military family, Williams moved back and forth across the United States at a young age. He spent the majority of his school years in Virginia Beach, Va. and resides in the Hedingham community of Raleigh with his wife, Susan, and son, Christian.

About Crescent State Bank
-Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Company has total assets of $959.6 million, deposits of $725.2 million, and gross loans of $652.8 million as of March 31, 2011. The bank operates 15 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh (3), Knightdale and Wilmington (2), North Carolina. For more information, visit 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.