Crescent Financial Bancshares, Inc. operates as the bank holding company for Crescent State Bank that provides commercial and retail banking services to individuals and small-to-medium sized businesses in North Carolina. Its deposit products include non-interest bearing checking accounts, interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit. The company’s loan portfolio comprises real estate mortgage and construction loans; and small business administration guaranteed loans; commercial mortgage loans; and commercial and industrial loans, including secured loans for working capital, equipment, and business expansion. It also offers consumer loans, such as automobile loans, boat and recreational vehicle financing, home equity and home improvement loans, and miscellaneous secured and unsecured personal loans; home equity lines of credit; and residential real estate loans. In addition, the company provides mortgage services, credit cards, investment services, online banking services, bill payment services, and wire transfers. As of August 13, 2012, it operated 15 banking offices in Cary, Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale, and Wilmington in North Carolina. The company was founded in 1998 and is headquartered in Raleigh, North Carolina. Crescent Financial Bancshares, Inc. operates as a subsidiary of Piedmont Community Bank Holdings, Inc.