Crescent State Bank Named To "The Financial 100"
Local Bank Recognized By Business North Carolina Magazine
- Raleigh-Durham-Chapel Hill, NC (1888PressRelease) December 01, 2011 - Crescent State Bank (http://www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that the company was ranked No. 24 in "The Financial 100" rankings by Business North Carolina magazine. Based on 2010 revenue, the ranking includes banks, savings and loan associations, and credit unions with operations in North Carolina. Crescent State Bank is headquartered in Cary.
"We are honored to be recognized among the top 100 financial institutions in the state by Business North Carolina," said Bruce Elder, Chief Financial Officer.. "The Financial 100 is a very prestigious list that allows us to track the progress of our company in comparison to other institutions in North Carolina."
- The ranking includes information on the companies' assets, net income, deposits, return on assets, return on equity, and efficiency ratio.
ABOUT CRESCENT STATE BANK:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Company has total assets of $916 million, deposits of $686.2 million, and gross loans of $616 million as of September 30, 2011. The bank operates 15 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh (3), Knightdale and Wilmington (2), North Carolina. For more information, visit http://www.crescentstatebank.com.
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.
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