Crescent State Bank Announces a 12 1/2% Stock Dividend

Apr 23, 2001, 01:00 ET from Crescent State Bank

    CARY, N.C., April 23 /PRNewswire Interactive News Release/ -- The Board of
 Directors of Crescent State Bank (OTC Bulletin Board:   CSCB), at its regular
 meeting on April 19, 2001, declared a 12 1/2% stock dividend on its
 outstanding common stock to shareholders of record on May 11, 2001.  The
 dividend is payable on May 25, 2001.
     At March 31, 2001, Crescent State Bank's total assets were $108 million,
 reflecting a 50% increase over the $72 million reported on December 31, 2000.
 Total net loans increased by 21% from $47 million as of December 31, 2000 to
 $58 million at March 31, 2001.  Total deposits were $97 million at
 March 31, 2001, reflecting a 58% increase over the $62 million reported on
 December 31, 2000.
     Crescent State Bank, a community bank headquartered in Cary, NC opened its
 doors for business on December 31, 1998.  Mike Carlton, President and CEO
 stated, "We are very pleased with the accomplishments that have been achieved
 over the past two years.  We have been able to grow our franchise from one
 branch facility to four locations covering Southwest Wake and Johnston
 counties.  This franchise expansion is consistent with our strategic
 initiatives announced in October 2000.  Through the patience and support of
 our shareholders, we believe that we have made significant progress towards
 our goal of enhancing shareholder value."
     Bruce Howell, Chairman of the Board stated "This stock dividend reflects
 the confidence of the Board of Directors in the progress of your Bank.  Many
 accomplishments occurred during the past twelve months, but especially
 gratifying was being able to report positive net income, before the provision
 for loan loss, for the year ended December 31, 2000."
     Crescent State Bank, a non-member state chartered bank operates four
 banking offices in Cary (2), Apex, and Clayton, North Carolina.  The Bank's
 website is www.crescentstatebank.com.  Crescent State Bank stock can be found
 on the OTC Bulletin Board trading under the symbol CSCB.
 
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SOURCE Crescent State Bank
    CARY, N.C., April 23 /PRNewswire Interactive News Release/ -- The Board of
 Directors of Crescent State Bank (OTC Bulletin Board:   CSCB), at its regular
 meeting on April 19, 2001, declared a 12 1/2% stock dividend on its
 outstanding common stock to shareholders of record on May 11, 2001.  The
 dividend is payable on May 25, 2001.
     At March 31, 2001, Crescent State Bank's total assets were $108 million,
 reflecting a 50% increase over the $72 million reported on December 31, 2000.
 Total net loans increased by 21% from $47 million as of December 31, 2000 to
 $58 million at March 31, 2001.  Total deposits were $97 million at
 March 31, 2001, reflecting a 58% increase over the $62 million reported on
 December 31, 2000.
     Crescent State Bank, a community bank headquartered in Cary, NC opened its
 doors for business on December 31, 1998.  Mike Carlton, President and CEO
 stated, "We are very pleased with the accomplishments that have been achieved
 over the past two years.  We have been able to grow our franchise from one
 branch facility to four locations covering Southwest Wake and Johnston
 counties.  This franchise expansion is consistent with our strategic
 initiatives announced in October 2000.  Through the patience and support of
 our shareholders, we believe that we have made significant progress towards
 our goal of enhancing shareholder value."
     Bruce Howell, Chairman of the Board stated "This stock dividend reflects
 the confidence of the Board of Directors in the progress of your Bank.  Many
 accomplishments occurred during the past twelve months, but especially
 gratifying was being able to report positive net income, before the provision
 for loan loss, for the year ended December 31, 2000."
     Crescent State Bank, a non-member state chartered bank operates four
 banking offices in Cary (2), Apex, and Clayton, North Carolina.  The Bank's
 website is www.crescentstatebank.com.  Crescent State Bank stock can be found
 on the OTC Bulletin Board trading under the symbol CSCB.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X14411889
 
 SOURCE  Crescent State Bank