Crescent State Bank Adds More Than A Century Of Banking Experience To Its Ranks

Online, July 30, 2012 (Newswire.com) - Crescent State Bank ("Crescent") announced today the addition of five new employees to its growing team. Crescent's newest employees, all of whom have multiple years of experience in the banking industry, specialize in various areas of commercial and mortgage banking.

The commercial banking team is expanding at Crescent in the Triangle with the additions of Larry Clark, Jay Risinger, Jeff Hendrick, Gregg Ferrell and Chuck Griswold; all of whom are seasoned bankers who bring immediate credibility with local business owners. Clark, most recently a senior credit officer with more than 36 years of banking experience, brings vast knowledge that spans the commercial segment, including municipalities.

Risinger's 13 years of experience originated in banking with the company that is now JP Morgan Chase. His experience includes Dealer Financial Services and middle market corporate, which is the area he most recently served in while at RBC/PNC. Hendrick brings 10 years of experience from Capital Bank where he served small and middle market businesses in both the Raleigh and Cary markets.

Gregg Ferrell, also a former RBC/PNC employee, has 28 years of banking experience and joins the team with a primary goal of elevating Crescent's focus with local commercial real estate professionals. Ferrell is a proven performer in the market and is a "household name" in the commercial real estate arena.

Chuck Griswold, consistently a top performer in residential mortgage originations, has also made the move to Crescent, joining the residential mortgage team. Griswold's lengthy career in the banking industry spans nearly three decades, the entirety of which he spent at RBC/PNC.

"The level of talent and experience of these new hires is a direct testament to our executive management team's ability to communicate the vision and strategic direction of the company," said Chris Moore, Crescent Regional Market President for the Raleigh/Triangle area. "These individuals clearly see our vision and want to be a part of what we're doing here at Crescent. I could not be more pleased to have each of them on the team."

"These are unprecedented times in our industry and their many years of experience, proven performance and integrity are exactly what our business clients are looking for in a banking partner," added Steve Jones, President of Crescent.

Crescent operates 15 full-service banking offices in the communities of Apex, Cary (two), Clayton, Garner, Holly Springs, Knightdale, Sanford, Southern Pines, Pinehurst, Raleigh (three) and Wilmington (two), NC. Piedmont acquired a majority interest in Crescent Financial Bancshares, Inc. (NASDAQ: CRFN) ("Crescent"), the parent company of Crescent, in December 2011.

About Crescent State Bank
Crescent State Bank is a state chartered bank operating fifteen banking offices in Cary (2), Apex, Clayton, Holly Springs, Southern Pines, Pinehurst, Sanford, Garner, Raleigh (3), Wilmington (2) and Knightdale, North Carolina. Crescent Financial Bancshares, Inc. stock can be found on the NASDAQ Global Market trading under the symbol CRFN. Investors can access additional corporate information, product offerings and online services through the bank's website at http://www.crescentstatebank.com.

About Piedmont Community Bank Holdings, Inc.
Piedmont Community Bank Holdings, Inc. is a bank holding company based in Raleigh, North Carolina. Piedmont was formed in 2009 by local businessmen Adam Abram and Scott Custer to build a strong community banking franchise across the Carolinas and Virginia. Abram serves as Chairman of Piedmont's Board of Directors, Steven Lerner serves as Vice Chair, and Custer serves as Piedmont's President and Chief Executive Officer.

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