CORRECTION -- Crescent Financial Corporation Announces First Quarter Earnings
CARY, N.C., April 17, 2008 (PRIME NEWSWIRE) -- In a release issued under the same headline on April 16, 2008, by Crescent Financial Corporation (Nasdaq:CRFN), parent company of Crescent State Bank of Cary, NC, note that in the Consolidated Income Statements, under the column March 31, 2008, the Gain/loss on sale of securities should be zero (0) rather than 99 and, below that, Other should be 264 rather than 165, as originally issued. The corrected table follows:
Crescent Financial Corporation
Consolidated Income Statements
(Amounts in thousands except share and per share data)
(Unaudited)
For the three-month period ended
-----------------------------------------------------
March 31, Dec. 31, Sept. 30, June 30, March 31,
2008 2007 2007 2007 2007
--------- --------- --------- --------- ---------
Non-interest
income
Mortgage loan
origination
income 172 116 146 135 115
Service charges
and fees on
deposit accounts 381 355 336 322 348
Gain/loss on
sale of
securities 0 -- -- -- --
Gain/(loss) on
disposal of
assets (9) (65) -- -- (1)
Other 264 249 208 190 167
--------- --------- --------- --------- ---------
Total non-
interest
income 808 655 690 647 629
CONTACT: Crescent Financial Corporation
Michael G. Carlton, President and CEO
Bruce W. Elder, Vice President
(919) 466-1005
