Forward Looking Statements

This presentation contains forward-looking statements (within the meaning of the Private
Securities Litigation Reform Act of 1955). Such statements are not historical facts, but
rather are based on our current expectations, estimates and projections about our
industry, our beliefs and assumptions. Words including “may,” “will,” “could,”
“would,” “should,” “anticipate,” “expect,” “intend,” “plan,” “project,” “believe,” “seek,”
“estimate” and similar expressions are intended to identify forward-looking statements.
These statements are not guarantees of future performance and are subject to certain
risks, uncertainties and other factors, some of which remain beyond our control, are
difficult to predict, and could cause actual results to differ materially from those
expressed or forecasted in the forward-looking statements. Such risk factors are
disclosed from time to time in filings made by Crescent Financial Corp. with the
Securities and Exchange Commission. We caution you not to place undue reliance on
these forward-looking statements, which reflect management’s view only as of the date
of this presentation. We are not obligated to update these statements or publicly release
the result of any revisions to them to reflect events or circumstances after the date of
this presentation or to reflect the occurrence of unanticipated events.

State-chartered community bank opened in Dec.1998

Formed holding company in June 2001

In September 2006, acquired Port City Bank with $185
million in assets

Total assets of $782 million as of June 30, 2007

11 full-service offices, with headquarters in Cary, NC

Serves 3 major markets: Raleigh-Durham, Sandhills
and Wilmington

About Crescent Financial

About Crescent Financial: CRFN¹

Listed on NASDAQ: October 2005

Market Cap: $94 million

Inside ownership: 18.6%

Institutional ownership: 6.7%

Avg. daily volume (3 mos.): 7,823 shares

Shares outstanding: 9.2 million

¹ Market Data as of July 30, 2007.

High Growth Strategy:

Increase presence in high-growth central and southeast
North Carolina markets

Identify communities of interest and then hire the best local
bankers

Target small- and medium-sized businesses, professionals
and individuals located in the markets we serve

Empower seasoned employees to make decisions at local
level

Focus on core deposit funding in highly competitive
environment

The Team That Makes It Happen

4 mos.

SVP, Dir. Ops

William V. Leaming, Jr

11 mos.

Regional President,
Wilmington

Keith Betts

Years in
Banking

Years with
CRFN

SVP & COO

SVP & Sr. Credit Officer

SVP & CFO

President & CEO

Title

Ray D. Vaughn

Bruce W. Elder

Michael G. Carlton

Thomas E. Holder, Jr.

Targeting High Growth Markets

¹ Weighted average of combined Southern Pines-Pinehurst and Sanford MSAs

Source: SNL Financial LC.

Projected 2006-2011

Raleigh–Durham–Cary MSA

7 banking offices with 2.13% deposit market share

All CRFN loan growth in this MSA has been organic

Population of 1.3 million, with 17.6% population growth forecast
over next five years¹

Home to the Research Triangle Park, one of the nation’s leading
technology business centers

Top-rated for quality of life, excellent education, business climate
and entertainment options:

Wake County: #1 Sellers Market in the Country (Forbes, June 2007)

#3 Best Jobs in Hottest Cities (Business 2.0, May 2007)

#1 Best City for Jobs (Forbes, February 2007)

Top 10 Tech Towns (Wired, January 2007)

#4 Best Places to Live (Money, July 2006)

¹ Source: SNL Financial

Sandhills MSA¹

Acquired Centennial Bank in August 2003 with $61.2 million
in assets and 2 banking offices in Moore County

Now 3 banking offices and 3.6% deposit market share¹

Total population of 138,600, growing at approx. 9.4% over
next 5 years¹

Famous for its world-class golf courses

Pinehurst hosted the 1999 and 2005 Men’s US Open Golf
Championship

Southern Pines hosted the 2007 Women’s US Open Golf
Championship

¹Weighted avg. of Pinehurst–Southern Pines MSA & Sanford MSA combined

Source: SNL Financial

Greater Wilmington Area/Coastal Market

Acquired Port City Capital on August 31, 2006 based in
Wilmington; consolidated in June 2007

1 banking office with 2.75% deposit market share; assets of
$185 million at acquisition

Wilmington is the largest city in southeastern NC; a regional
medical and education center and major port

Wilmington MSA has population of 315,000, with growth
projected at 15.7% over next 5 years¹

Brunswick County’s population of 93,600 is expected to grow
nearly 24% over the next five years¹

¹ Source: SNL Financial.

Growing the Balance Sheet

2003-2006 Average Annual Growth:

Gross Loans = 38.0%

Total Deposits = 37.0%

Total Assets = 38.3%

Expanding Deposit Market Share:

Measuring Up Against the Top-Ranked Community Banks in
Our Markets¹

+8 bps

+4 bps

+19 bps

-3 bps

+16 bps

+23 bps

¹ Community banks ranked by deposit market share in CRFN’s 4 MSAs; includes community banks with more than 1%
market share. Excludes regional banks.

Source: SNL Financial. Deposit data as of June 30, 2006.

+7 bps

+36 bps

+33 bps

Exceptional Loan Growth:

Compared with Top-Ranked Community Banks in Our Markets¹

LTM Loan Growth²

¹ Community banks ranked by deposit market share in CRFN’s 4 MSAs ; includes community banks with more than
1% market share. Excludes regional banks.

² Source: SNL Financial. Loan growth data for most recent quarter; 2Q’07 data not available for Fidelity.

Diversification Reflects the Markets We Serve

Commercial RE,

54%

C&I,

11%

Residential RE,

Construction,

24%

HELOC,

Consumer,

Commercial RE is 47%
owner occupied

Construction =

42% residential

25% commercial

33% land

Balance Sheet Management¹ :

Growing Assets While Maintaining Asset Quality

¹Peer group = Median of 10 NC banks closest in asset size to CRFN.

² Non-performing assets include non-accrual loans, loans 90+ past due, and OREOs/Repos.

Our Commitment to Asset Quality

Disciplined, conservative credit culture

Consistent on the analysis & underwriting standards

Effective approval structure aimed at quality &
responsiveness

Robust credit monitoring process

At individual credit level

At portfolio level

We do not compromise loan quality for growth.

Financial Highlights

$1.54¹

$1.47

$1.00

Net Income

$0.16¹

$0.15

EPS

0.82%¹

0.82%

0.88%

ROA

11.26%¹

56.1%

$608.3

$782.2

2Q’07¹

11.26%

57.4%

$586.1

$751.5

1Q’07

10.22%

62.6%

$365.2

$470.7

2Q’06

ROATE

Gross Loans

Assets

% Core Deposits

($MMs except EPS)

¹ Excludes non-recurring charge of $146,000, or 0.0097 per share after-tax

High Loan Growth & Changing Mix

4.5-Year CAGR = 41.9%

$126

$217

$258

$328

$608

$550

High Deposit Growth & Changing Mix

$219

$274

$322

$542

$618

4.5-Year CAGR = 36.3%

$153

Net Income vs. EPS

4.7M 5.4M 5.7M 7.6M 9.6M

$3.3M¹

¹ 2007 net income and EPS represent 1H 2007 (Actual) plus consensus est. for 2H 2007 of $3.3 million
NI and $0.34 EPS.

Avg. Dil.

Shares:

Capital Raising Tied to Strategic Plan

December, 1998: $10.9 million IPO

August, 2002: $6.3 million secondary offering

August, 2003: $8.0 million trust preferred

December, 2005: $11.6 million public offering

Paid seven stock dividends of 10% or greater

Historical Stock Price Performance¹

¹Trading activity from 8/11/1999 (first day of trading history) to 7/30/2007.

Source: SNL Financial.

Acquisition of
PCCB Completed:
August 31, 2006

NASDAQ National
Market Listing:

October 10, 2005

Public Offering
Completed:

December 2, 2005

Secondary Offering
Completed:

August 20, 2002

Acquisition of
Centennial Completed:
August 29, 2003

Relative Price Performance¹

¹Trading activity from 8/11/1999 to 07/30/2007.

Source: SNL Financial.

+161%

+115%

+ 83%

+ 36%

CRFN Performance Relative to NC Peer Group

32%

LTM Organic Loan Growth

0.43%

0.09%

NPAs/Total Assets

151%

172%

Price²/Tangible Book Value

15.3x

16.0x

Price²/LTM Core EPS

144%

109%

Price²/Book Value

Peer Median¹

CRFN

¹Peer median is based on most recent quarter data.

² Price as of 07/30/07 = $10.26.

A Growth Company…Strong, Yet Undervalued

Investment Highlights

Strong loan growth with exceptional asset quality

Commercially focused business mix

Attractive franchise demographics with significant growth
potential

Proven acquisition and de novo expansion expertise

Established local identity in high-growth communities

Seasoned management team with an intimate knowledge
of local markets

Track record of stable earnings and balance sheet growth

The Bank will have:

Traditional bank assets $1.4B

20+ banking offices strategically located in Central and
Eastern North Carolina

Acquired one or more smaller banks to gain strategic
locations, people and/or other resources

Improved profitability to ~ 1.00%

Expanded services to include some/all of following: leasing,
mortgage lending, brokerage, insurance & financial advisory

Services delivered through a mix of “high-tech and high touch”
channels

The Bank will be recognized as the financial services provider
of choice for each of the communities we serve

Vision of 2006 Goals for 2010

Profitability:

Increase non-interest income through mortgage
banking activities

Leverage Port City cross-sell opportunities

Growth:

Branch expansion in 2007-2008 in existing and
surrounding markets

Expand deposit and loan market share

Continue to seek acquisition opportunities

Immediate Opportunities for 2007-2008