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Ticker:CRFN
Company Name: Crescent Financial Corporation

Business Overview from 10-K filing for Crescent Financial Corporation:

Crescent Financial Corporation (the “Registrant”) was incorporated under the laws of the State of North Carolina on April 27, 2001, at the direction of the Board of Directors of Crescent State Bank (the “Bank”), for the purpose of serving as the bank holding company for the Bank and became the holding company for the Bank on June 30, 2001. To become the Bank’s holding company, Registrant received approval of the Federal Reserve Board as well as the Bank’s shareholders. Upon receiving such approval, each share of $5.00 par value common stock of the Bank was exchanged on a one-for-one basis for one share of $1.00 par value common stock of the Registrant. The Registrant operates for the primary purpose of serving as the holding company for the Bank. The Registrant’s headquarters are located at 1005 High House Road, Cary, North Carolina 27513.     

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