Bailout Bank Bio: Crescent Financial Corporation

Jan 28, 2009 | 1 min read | Print Article

Crescent Financial Corporation is the bank holding company for Crescent State Bank, with 12 full service branch offices in Cary, Apex, Clayton, Holly Springs, Pinehurst, Raleigh, Southern Pines, Sanford, Garner, Wilmington and Knightdale, North Carolina and one loan production office in Raleigh, North Carolina. The company is headquartered in Cary, North Carolina. Crescent Financial will receive $24.9 million through the Treasury Department’s Capital Purchase Program, in exchange for shares of the company’s preferred stock.

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Bailout Bank Bio: Crescent Financial Corporation


Federal Equity Investment	$24.9 million
Total Revenue	$57.559 million (2007)
Net Income	$6.249 million (2007)
Number of Employees	118
Corporate Headquarters	Cary, North Carolina
Business Sector	Financial
Officers and Directors	Carlton, Michael, President, Chief Executive Officer, and Director of Company and Bank Howell, Bruce, Chairman of the Board Other Officers and Directors
Corporate Website	http://www.crescentstatebank.com
Executive Compensation	Crescent Financial Corporation