Crescent State Bank Names Cary City Executive
Summary
Raleigh, NC, June 23, 2006 --( “As a Crescent State Bank executive, Frank will have a positive impact on our success and growth,” said Carlton." 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.Patty Briguglio MMI Associates, Inc. 7406-H Chapel Hill Road Raleigh, NC 27607 (919) 233-6600 • (919) 233-0300 (fax) patty@mmimarketing.com ### Raleigh, NC, June 23, 2006 --( PR.com )-- Michael G. Carlton, president of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ National Market: CRFN), has announced that Frank Shell has been selected to serve as Cary city executive.With 23 years of banking experience, Shell received his bachelor’s degree from the University of North Carolina at Chapel Hill and his MBA from Wake Forest University.“As a Crescent State Bank executive, Frank will have a positive impact on our success and growth,” said Carlton." 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.