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<title>aktiencheck.de - Forum - CRESCENT FINANCIAL BANCSHARES</title>
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<title>Crescent Financial auf Raubzug!</title>
<link>http://www.aktiencheck.de/forum/Crescent_Financial_auf_Raubzug-749197-t267777</link>
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<description>Crescent Financial auf Raubzug!, 01.09.2006 13:31 
Crescent Financial Corporation Finalizes Acquisition Of Port City Capital Bank 

CARY, N.C., Sept. 1 /PRNewswire-FirstCall/ -- Crescent Financial Corporation announced today that it has completed its acquisition of Port City Capital Bank, Wilmington, NC. As a result of the acquisition, Crescent Financial Corporation now operates two wholly owned banking subsidiaries: Port City Capital Bank and Crescent State Bank, Cary, NC. The acquisition creates a multi-bank holding company with $662.6 million in total assets on a consolidated basis as of June 30, 2006. Port City Capital Bank operates one office in Wilmington, NC. Crescent State Bank is a full service community-oriented bank which operates ten full service branch offices in Wake, Johnson, Lee and Moore Counties, NC.

Michael G. Carlton, President and CEO of Crescent Financial Corporation stated: "We are pleased to have this transaction complete and to begin our partnership with  [&lt;a href=&#034;http://www.aktiencheck.de/forum/Crescent_Financial_auf_Raubzug-749197-t267777&#034;&gt;mehr&lt;/a&gt;]</description>
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