Crescent State Bank Secures New Core Processing Services

Michael G. Carlton, president of Crescent State Bank (www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global Market SM), has announced that the bank has selected Metavante, a leading provider of banking and payments technology, to replace the bank’s core processing system. The new system offers banking and payments technology solutions from several areas, including core processing, consumer and business electronic banking, electronic funds transfer, customer relationship management, image, electronic payment and wealth management. Metavante’s integrated delivery channels and information management tools will provide Crescent with a total view of its customer base as well as the necessary tools to better understand and communicate with its customers.

This agreement marks an extension of Crescent’s relationship with the Metavante; the bank has been a Metavante Regulatory Services client since 2005. For more information, please visit www.crescentstatebank.com.

Related Links:
www.crescentstatebank.com
www.metavante.com
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News Facts:
• Michael G. Carlton, president of Crescent State Bank (www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global Market SM), has announced that the bank has selected Metavante, a leading provider of banking and payments technology, to replace the bank’s core processing system.
• The new system offers banking and payments technology solutions from several areas, including core processing, consumer and business electronic banking, electronic funds transfer, customer relationship management, image, electronic payment and wealth management.
• Metavante’s integrated delivery channels and information management tools will provide Crescent with a total view of its customer base as well as the necessary tools to better understand and communicate with its customers.
• This agreement marks an extension of Crescent’s relationship with the Metavante, the bank has been a Metavante Regulatory Services client since 2005.
• For more information, please visit www.crescentstatebank.com.


Quotes:
"Crescent State Bank was established to provide the financial services of a larger bank with the hands-on, personalized service that only a local bank can provide. Ten years later, we have experienced rapid growth, yet have not strayed from our customer-centric philosophy," said Carlton. "We chose to build our relationship with Metavante to promote internal efficiencies and provide our customers with more competitive services, ultimately supporting our continued business development without compromising our relationship-driven commitment to our customers."

"We continue to build extensive relationships with our clients by leveraging our industry-leading knowledge, implementation and integration expertise to provide financial institutions like Crescent State Bank with scalable solutions that position them to succeed," said Jamie Geschke, president of Metavante Financial Solutions Group, which includes the Banking Solutions division. "By deploying an expanded suite of Metavante products and services, Crescent State Bank will benefit from integrated technology solutions that support increased process efficiencies — allowing the bank to grow its business and provide high-touch service to its customers."

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $955.5 million, deposits of $711.6 million, and net loans of $759.1 million as of Sept. 30, 2008. The bank operates 13 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale and Wilmington (2), North Carolina. For more information, visit www.crescentstatebank.com.

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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.

About Metavante:
Metavante Technologies, Inc. (NYSE:MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,000 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network. Metavante (www.metavante.com) is headquartered in Milwaukee.

Keywords:
Crescent State Bank, Crescent Financial, Global NASDAQ, North Carolina Banks, Michael G. Carlton, Metavante, core processing system, Jamie Geschke

Patty Briguglio
MMI Associates, Inc.
(919) 233-6600
patty@mmimarketing.com
PR Firms Raleigh, NC

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