Press Releases

Crescent State Bank Secures New Core Processing Services

by MMI

CARY, N.C. – Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation (NASDAQ Global Market SM), has announced that the bank has selected Metavante, a leading provider of banking and payments technology, to replace the bank’s core processing system. The new system offers banking and payments technology solutions from several areas, including core processing, consumer and business electronic banking, electronic funds transfer, customer relationship management, image, electronic payment and wealth management. Metavante’s integrated delivery channels and information management tools will provide Crescent with a total view of its customer base as well as the necessary tools to better understand and communicate with its customers.

This agreement marks an extension of Crescent’s relationship with the Metavante; the bank has been a Metavante Regulatory Services client since 2005. For more information, please visit www.crescentstatebank.com.

“Crescent State Bank was established to provide the financial services of a larger bank with the hands-on, personalized service that only a local bank can provide. Ten years later, we have experienced rapid growth, yet have not strayed from our customer-centric philosophy,” said Carlton. “We chose to build our relationship with Metavante to promote internal efficiencies and provide our customers with more competitive services, ultimately supporting our continued business development without compromising our relationship-driven commitment to our customers.”

“We continue to build extensive relationships with our clients by leveraging our industry-leading knowledge, implementation and integration expertise to provide financial institutions like Crescent State Bank with scalable solutions that position them to succeed,” said Jamie Geschke, president of Metavante Financial Solutions Group, which includes the Banking Solutions division. “By deploying an expanded suite of Metavante products and services, Crescent State Bank will benefit from integrated technology solutions that support increased process efficiencies — allowing the bank to grow its business and provide high-touch service to its customers.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $955.5 million, deposits of $711.6 million, and net loans of $759.1 million as of Sept. 30, 2008. The bank operates 13 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale and Wilmington (2), North Carolina. For more information, visit www.crescentstatebank.com.

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Information in this press release contains “forward-looking statements.” These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, and the effects of competition. Additional factors that could cause actual results to differ materially are discussed in Crescent Financial Corporation’s recent filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K and its other periodic reports.

About Metavante:
Metavante Technologies, Inc. (NYSE:MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,000 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network. Metavante is headquartered in Milwaukee.

Comment | 12/04/08

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Defamation Case Against Roy Cooper

Public and Private Figures in Roy Cooper’s Defamation Lawsuit

by MMI

When it comes to defamation lawsuits in North Carolina, there is a difference between what constitutes being public and private figures in the state. For example, if you run for public office, you are then considered a public figure. Such was the case for Dan Boyce in 2000, when he sought the post of attorney general of North Carolina on the Republican ticket opposite the Democratic candidate, Roy Cooper, who was a public figure as well by virtue of his nomination.

However, if you tell lies about private figures connected to a public figure, that does not in and of itself make them public figures as well. To be a public figure in a candidacy, you must on your own “thrust” yourself into an existing public controversy or subject of general interest. Consider these facts in light of the details pertaining to Boyce’s defamation lawsuit against Cooper.

When Cooper launched attack ads against Boyce in the last week of the 2000 campaign, he claimed that Boyce’s law firm sued the state and charged $28,000 an hour in lawyers’ fees to taxpayers in the process. Actually, the ad referred to the Smith A Protestor case closed in September 1997 by the law firm of Dan’s dad, Gene Boyce, and there were no lawyer fees from it either.

So by making false charges about the case, Cooper’s ad smeared not only Dan Boyce but Gene Boyce. And since Dan’s own law firm, Boyce & Isley, was not formed until July 1999, it tarnished the reputation of the lawyers working there along with Dan Boyce, namely Philip Isley and his wife, Laura Isley.

By the previous definitions given, was the law firm of Boyce & Isley, PLLC a “public figure” during Oct. 31 through Nov. 7, 2000? No. Were Philip and Laura Isley “public figures” in the same period? No. Was Gene Boyce a “public figure” then either? No as well.

Cooper has much to answer concerning his ads, including their damages done to private individuals. Defaming any public or private figure is against the law – North Carolina’s own attorney general should know that, and he should be ashamed that he has not resolved the matter and apologized to those affected for more than eight years now.

Comment | 12/02/08

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Press Releases

Triangle Technology Executives Council Achieves Incorporation

by MMI

RALEIGH, N.C. – The Triangle Technology Executives Council (TTEC), a nonprofit organization dedicated to the economic development of technology companies in the Research Triangle region of North Carolina, has announced that the organization has incorporated as an education nonprofit. After operating informally since 2005, TTEC’s leaders made the decision to incorporate in response to the growing need for education and executive collaboration among technology executives. The rise in social networking and realization of the personal and professional value of networking has resulted in significant growth in TTEC’s membership for 2008. The professional association has grown from 25 members to more than 130 technology executives since Jan.

Membership to TTEC is limited to senior information technology (IT) executives in decision-making roles and by invitation only. For more information on TTEC, visit www.ncttec.net.

“This council is hitting the mark in regard to bringing the right people together for the key issues facing the community,” said Chuck Musciano, chief information officer at Martin Marietta Materials Inc.

“The rapid growth of TTEC can be attributed to their commitment to contributing to the success of the executive membership,” said Sid Mitchener, managing partner at VACO Raleigh, LLC and TTEC board member. “It is an organization of technology executives that is created and managed by technology executives.”

“The technology executive community in this region has a collective desire to give back to the community and TTEC is facilitating the release of this energy,” said John Crites, program director for TTEC.

About Triangle Technology Executives Council:
The Triangle Technology Executives Council (TTEC) is a nonprofit organization dedicated to the economic development of technology companies in the Research Triangle region of North Carolina through the collaboration among leaders in the management community. The council resources are primarily volunteers comprised of executive technology leadership in this region. TTEC sponsors who share the commitment for economic development in the area provide additional resources. The organization also partners with local universities and the Center for Entrepreneurial Development (CED) to extend shared expertise to aspiring students and technology ventures. For more information please visit www.ncttec.net.

Comment | 11/27/08

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Press Releases

MedPro Rx, Inc. Releases Podcast On Scholarship Program For Students With Bleeding Disorders

by MMI

RALEIGH, N.C. – Nancy McFarlane, president of MedPro Rx, Inc., a provider of specialty pharmacy services to clients with chronic illnesses, has announced the release of a podcast about the pharmacy’s “Education Is Power” scholarship program. In the podcast, Kathy Robinette-Stoneberg, scholarship coordinator for MedPro Rx, discusses the history and goals of the scholarship program, offers insight into what the pharmacy is looking for in applicants and explains how students can apply. The podcast is available for download at www.medprorx.com/hemophilia_scholarship.php.

The annual scholarships are open to United States residents who are living with a bleeding disorder, entering or attending a community college, junior college, four-year college, university or vocational school and are active in their community. Application forms are open and available on MedPro Rx’s Web site and they must be postmarked by May 1, 2009 to be eligible for consideration. Since starting its “Education is Power” scholarship program in 2006, MedPro Rx has distributed $135,000 to students nationwide who have either hemophilia or von Willebrand Disease (vWD).

For more information about MedPro Rx’s “Education is Power” program, visit www.medprorx.com or call Robinette-Stoneberg at (866) 528-4963.

“These scholarships lessen the financial burden of educational success for students in the bleeding disorder community,” McFarlane said. “Our goal is to make higher education accessible and attainable for deserving students.”

“I encourage all students in the bleeding disorder community to apply for this program,” Robinette-Stoneberg said. “The job market is huge and, with the proper educational degrees, people in this community will have the opportunity to obtain jobs with the much-needed prescription and health care benefits.”

About MedPro Rx, Inc.:
MedPro Rx, Inc. is a specialty infusion pharmacy which has been providing infused and injectable medications and services to clients with chronic illnesses since 2002. With more than 100 years of combined pharmacy, nursing and management experience, MedPro Rx is dedicated to improving the overall outcomes of the client therapy experience. MedPro Rx’s goal is to set the standard for infusion care and achieve positive clinical outcomes for clients by participating in the healthcare process through integrated, community-based systems. As a specialty infusion pharmacy, MedPro Rx is an Accreditation Commission for Health Care, Inc. provider (ACHC) whose services emphasize treatments for individuals with hemophilia, vWD, autoimmune neuromuscular disorders and other complex chronic conditions. Services include client and family advocacy, complimentary pick-up of sharps containers at the client’s location of choice, express shipping and personal medication delivery services, complete insurance and benefit counseling, and the assurance that MedPro Rx stocks all factor and IVIg brands, all doses from all manufacturers, all the time. MedPro Rx offers specialty intravenous therapies such as IVIg, which treats a variety of immunodeficient diagnoses, and clotting factor for a client to use in their home, at infusion clinics and in the physicians’ offices. For more information or to receive a free consultation and health insurance evaluation, please call (888) 571-3100 or visit www.medprorx.com.

Comment | 11/27/08

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Today with Patty

Seth Godin's advice a breath of fresh air for automakers

by Patty

Have you heard of author Seth Godin? His take on business and marketing is refreshing and – to put it mildly – brilliant. Now, Seth has an excellent idea about how to go about fixing America’s battered auto industry. I think it’s the best one we’ve heard yet.

Seth says on his blog that Congress should use some of the capital allocated for the financial bailout and open the door for startup car companies to enter the market. In turn, they effectively would take the power back from the Big Three automakers.

Seth’s reasoning for offering such a bold suggestion? He basically calls it a history lesson – our country’s auto innovation came from a crowded marketplace of hundreds of small car companies battling for a bigger share of buyers.

First things first, Seth notes – let inevitable bankruptcy hit the major automakers. (“What we don’t need are giant companies with limited choice, confused priorities, private jets and a bully’s attitude,” he says.) Lawmakers, Seth speculates, might spend a billion dollars in order to streamline the safety and regulatory approval process, making the task of starting a new car company much less daunting.

All that bankruptcy would eliminate auto dealers in favor of “car stores” that facilitate a wide swath of innovative efforts.

Has Seth Godin ever worked for an automaker? I don’t know. But as a small business owner, I do know that some of our country’s best ideas have come from ground-level innovative efforts. Seth realizes that the marketplace of ideas serves as a rehabilitative concept here.

Hopefully Seth’s input reaches the table in discussion about how to fix Detroit. His is a great idea in a sea of mediocre, ineffective solutions thus far. And when you have a good pitch like his, you can really run with it. I wouldn’t be surprised to see major executives and body-shop workers alike floating this idea.

To that end, a company’s best asset is a good, refreshing idea. There is no better public relations capital than the thinking power of your people. (We like it when clients provide innovative solutions that make their customers’ lives better – it makes our job that much easier.)

So, a notice to Treasury Secretary Henry Paulson and bailout administrators: There’s a pretty good idea on the table for the future of the U.S. auto industry. Take a look. And while you’re at it, check out Seth’s new book, Tribes.

Comment | 11/26/08

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Press Releases

Dune Dogs Host Fourth Annual Dune Dog Holiday Extravaganza

by MMI

RALEIGH, N.C. – The Dune Dogs, which consists of area executives playing “country-fried swamp ‘n’ roll,” has announced that the Fourth Annual Dune Dog Holiday Extravaganza will be held Monday, Dec. 22 at 8 p.m. at the Berkeley Café, located on 217 W. Martin St. Dune Dog fans are invited to have dinner at the Berkeley Café from 7 to 8 p.m. prior to the start of the Extravaganza. This year’s Holiday Extravaganza will include guest performances from Last Call as well as the debut of “The Business,” Cousin Ellen’s new blues band.

The Dune Dogs are: Dusty Baker (guitar, bass, vocals); “Hillbilly” Dickerson (guitar, bass, vocals); JimChris Dott (bass, keyboards, mandolin, vocals); Finchman (vocals, harmonics); Dick Turban (drums, percussion, vocals); and Steve Potak (keyboards). For more information, visit www.thedunedogs.com.

“Can you believe it has been four years of Holiday Extravaganzas? Who would have thought a pack of mangy, talent-poor old Dogs could pull off what has become the Triangle’s seminal Holiday event for such a long and painful period? I guess there really is not a whole lot going on in the Triangle the week of Christmas,” said Finchman.

About The Dune Dogs:
Conceived and delivered on Ocracoke Island in 2002, the Dune Dogs’ rural blend of hard-core country and southern rock ‘n’ roll prove that a lack of talent and professionalism are not necessarily impediments to good vibes and the “humble endings” of a DUNE DOG experience. The Dune Dogs are: Dusty Baker (guitar, bass, vocals); “Hillbilly” Dickerson (guitar, bass, vocals); JimChris Dott (bass, keyboards, mandolin, vocals); Finchman (vocals, harmonics); Dick Turban (drums, percussion, vocals); and Steve Potak (keyboards). For more information, visit www.thedunedogs.com.

Comment | 11/26/08

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