Crescent Financial Bancshares, Inc.

Crescent Financial Bancshares, Inc. Announces First Quarter 2013 Financial Results, Which Reflect Strong Loan Growth and Merger Activities

RALEIGH, N.C., May 1, 2013 (GLOBE NEWSWIRE) -- Crescent Financial Bancshares, Inc. (Nasdaq:CRFN), the bank holding company for VantageSouth Bank, today reported unaudited financial results for the quarter ended March 31, 2013. Highlights include the following:

Crescent Financial Bancshares, Inc.

Crescent Financial Bancshares, Inc. Announces Fourth Quarter Net Income of $2.1 Million and Continued Strong Revenue and Loan Growth

RALEIGH, N.C., Jan. 30, 2013 (GLOBE NEWSWIRE) -- Crescent Financial Bancshares, Inc. (Nasdaq:CRFN) ("Crescent" or the "Company"), today reported financial results for the fourth quarter and year ended December 31, 2012. Crescent Financial is the parent company of VantageSouth Bank (formerly Crescent State Bank) and is a subsidiary of Piedmont Community Bank Holdings, Inc. ("Piedmont").

Crescent Financial Bancshares, Inc.

Crescent Financial Bancshares, Inc. Announces Financial Results for Third Quarter of 2012 Reflecting Strong Loan Growth and Net Interest Margin Expansion

RALEIGH, N.C., Oct. 30, 2012 (GLOBE NEWSWIRE) -- Crescent Financial Bancshares, Inc. (Nasdaq:CRFN) (hereinafter referred to as "Crescent Financial" or the "Company"), the parent company of Crescent State Bank ("CSB") and a subsidiary of Piedmont Community Bank Holdings, Inc. ("Piedmont"), today reported financial results for the third quarter and nine months ended September 30, 2012.

Crescent Financial Bancshares, Inc.

Crescent Financial Bancshares, Inc. and ECB Bancorp, Inc. to Merge

RALEIGH, N.C. and ENGELHARD, N.C., Sept. 25, 2012 (GLOBE NEWSWIRE) -- Crescent Financial Bancshares, Inc. (Nasdaq:CRFN) and ECB Bancorp, Inc. (NYSE Amex:ECBE) jointly announced today the signing of a definitive merger agreement under which Crescent Financial will acquire ECB Bancorp, Inc. for $17.75 per share or approximately $51.6 million.

Crescent Financial Bancshares, Inc.

Crescent Financial Bancshares, Inc. Announces Financial Results for Second Quarter of 2012 and Filing of Application to Acquire VantageSouth Bank

RALEIGH, N.C., July 30, 2012 (GLOBE NEWSWIRE) -- Crescent Financial Bancshares, Inc. (Nasdaq:CRFN) (hereinafter referred to as "Crescent Financial" or the "Company"), the parent company of Crescent State Bank and a subsidiary of Piedmont Community Bank Holdings, Inc. ("Piedmont"), today reported financial results for the second quarter and six months ended June 30, 2012. Crescent Financial also announced it has filed an application with its regulators to acquire VantageSouth Bank, which is currently 100% owned by Piedmont.

Crescent Financial Bancshares, Inc.

Crescent Financial Bancshares, Inc. Announces Financial Results for First Quarter of 2012 and Approval to Resume Payments on TARP Preferred Stock and Trust Preferred Securities

RALEIGH, N.C., April 30, 2012 (GLOBE NEWSWIRE) -- Crescent Financial Bancshares, Inc. (Nasdaq:CRFN), the parent company of Crescent State Bank, today reported financial results for the first quarter of 2012 and announced that it has received approval from its primary regulator to resume payment of preferred dividends on securities issued to the U.S. Treasury in connection with the TARP Capital Purchase Program ("TARP Preferred Stock") and interest payments due on its subordinated debentures which were funded through the issuance of trust preferred securities.

Crescent Financial Bancshares, Inc.

Crescent Financial Bancshares, Inc. Announces Financial Results for Fourth Quarter and Full Year 2011

CARY, N.C., March 6, 2012 (GLOBE NEWSWIRE) -- Crescent Financial Bancshares, Inc. (Nasdaq:CRFN), the parent company of Crescent State Bank, today reported financial results for the fourth quarter and full year of 2011. Highlights include the following:

Crescent Financial Bancshares, Inc.

Piedmont Extends Tender Offer for Shares of Crescent Financial

RALEIGH, N.C. and CARY, N.C., Nov. 22, 2011 (GLOBE NEWSWIRE) -- Piedmont Community Bank Holdings, Inc. ("

Crescent Financial Bancshares, Inc.

Crescent Financial Corporation Announces Third Quarter Results and Regulatory Approval for Piedmont Transaction

CARY, N.C., Oct. 24, 2011 (GLOBE NEWSWIRE) -- Crescent Financial Corporation (Nasdaq:CRFN), parent company of Crescent State Bank headquartered in Cary, North Carolina, announced an unaudited net loss for the three months ended September 30, 2011, before adjusting for the effective dividend on preferred stock, of ($3,004,000) compared with ($1,884,000) for the three month period ended September 30, 2010. After adjusting for dividends and accretion on preferred stock of $442,000 and $423,000, respectively for each period, the net loss attributable to common shareholders for the current period was ($3,446,000) or ($0.36) per share compared to ($2,307,000) or ($0.24) per share for the prior year period. For reasons discussed below, the Company did not recognize any income tax benefit from the pre-tax loss during the current period. On a comparative pre-tax basis, the loss before the effective dividend on preferred stock was $453,000 less for the quarter ended September 30, 2011 than the ($3,458,000) reported for the quarter ended September 30, 2010. The improvement was attributable to the net impact of a higher net interest margin, smaller loan loss provision, 10% increase in noninterest income and was partially offset by a 2% increase in noninterest expenses.

Crescent Financial Bancshares, Inc.

Crescent Financial Corporation Reports Financial Results for Q2 2011

CARY, N.C., Aug. 2, 2011 (GLOBE NEWSWIRE) -- Crescent Financial Corporation (Nasdaq:CRFN), parent company of Crescent State Bank headquartered in Cary, North Carolina, announced an unaudited net loss for the three months ended June 30, 2011, before adjusting for the effective dividend on preferred stock, of ($3,445,000) compared to a net loss of ($4,010,000) for the prior year three-month period. After adjusting for $437,000 and $421,000 in dividends and accretion on preferred stock for the two respective periods, net loss attributable to common shareholders for the three-month period ended June 30, 2011 was ($3,882,000) or ($0.40) per common share compared to ($4,431,000) or ($0.46) per common share for the quarter ended June 30, 2010. A smaller loan loss provision for the current year period was partially offset by a decline in net interest income, an increase in the valuation allowance on our deferred tax asset and an increase in noninterest expenses primarily attributable to the acquisition, servicing and disposition of foreclosed assets.