X0306 4 2013-04-01 0 0001143921 Crescent Financial Bancshares, Inc. CRFN 0001182744 LAMB JOSEPH T JR 3600 GLENWOOD AVENUE SUITE 300 RALEIGH NC 27612 1 0 0 0 Common Stock 2013-04-01 4 A 0 184362 A 184362 D Common Stock 2013-04-01 4 A 0 2485 A 2485 I As Custodian for Grandchild Common Stock 2013-04-01 4 A 0 11360 A 11360 I By Lake Drive Corporation Common Stock 2013-04-01 4 A 0 11005 A 11005 I By Lamb Family LLC Common Stock 2013-04-01 4 A 0 7810 A 7810 I By Paula Ann Corporation Common Stock 2013-04-01 4 A 0 135137 A 135137 I By spouse Common Stock 2013-04-01 4 A 0 12513 A 12513 I By Zee R. Rochelle Inc. Represents shares of common stock of Crescent Financial Bancshares, Inc. (the "Issuer") received in exchange for 51,933 shares of common stock of ECB Bancorp, Inc. ("ECB") pursuant to the merger of ECB with and into the Issuer (the "Merger"). The exchange ratio in the Merger was 3.55 shares of Issuer common stock for each share of ECB common stock, with fractional shares paid in cash. On the effective date of the Merger, the most recent closing price of the Issuer's common stock was $3.94 per share and the most recent closing price of ECB's common stock was $14.43 per share. Represents shares of common stock of the Issuer received in exchange for 700 shares of common stock of ECB pursuant to the Merger. Represents shares of common stock of the Issuer received in exchange for 3,200 shares of common stock of ECB pursuant to the Merger. Represents shares of common stock of the Issuer received in exchange for 3,100 shares of common stock of ECB pursuant to the Merger. Represents shares of common stock of the Issuer received in exchange for 2,200 shares of common stock of ECB pursuant to the Merger. Represents shares of common stock of the Issuer received in exchange for 38,067 shares of common stock of ECB pursuant to the Merger. Represents shares of common stock of the Issuer received in exchange for 3,525 shares of common stock of ECB pursuant to the Merger. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purpose. The reporting person is a director, officer and/or principal shareholder of the companies that own these shares, but he disclaims beneficial ownership of the listed shares except to the extent of his pecuniary interest therein. Except to the extent of the reporting person's interest in the entity that holds these shares, the reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. /s/ Joseph T. Lamb, Jr. 2013-04-03