This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Crescent Financial Announces Annual Meeting Date

Stocks in this article: CRFN





CARY, N.C., Jan. 6, 2012 /PRNewswire/ -- Crescent Financial Bancshares, Inc. (NASDAQ: CRFN) (" Crescent"), the parent company of Crescent State Bank, announced today that it will hold its annual stockholders meeting on May 8, 2012.  The record date for the meeting has been fixed as March 30, 2012.

The annual meeting in May will be a joint meeting for 2011 and 2012, since Crescent did not hold an annual meeting during 2011. 

NASDAQ Listing Rules 5620(a) and 5620(b) generally require NASDAQ listed companies to hold an annual meeting of stockholders no later than one year after the end of the company's fiscal year-end.  As previously disclosed, the company advised NASDAQ in December that it was not in compliance with these rules. On January 4, 2012, Crescent received a notice from NASDAQ acknowledging Crescent's correspondence and issuing a formal determination that the company's lack of an annual meeting was not compliant with NASDAQ rules.  Crescent intends to address this lapse in accordance with the procedures described in the NASDAQ rules and by holding the 2011 and 2012 annual stockholders meeting as described above.

About Crescent Financial Bancshares, Inc.:

Crescent Financial Bancshares, Inc. is a Delaware-chartered bank holding company based in Cary, N.C. and the parent company of Crescent State Bank. Crescent had unaudited total assets of $916.0 million, total deposits of $686.2 million, and gross loans of $616.0 million as of September 30, 2011. The bank operates 15 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Knightdale, Sanford, Southern Pines, Pinehurst, Raleigh (3) and Wilmington (2), N.C. For more information, visit www.crescentstatebank.com.

Forward-Looking Statements

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, risks associated with the ownership by Piedmont Community Bank Holdings, Inc. (" Piedmont") of a majority of Crescent's voting power, including interests of Piedmont differing from other stockholders or any change in management, strategic direction, business plan, or operations, Crescent's new management's ability to successfully integrate into Crescent's business and execute its business plan, local economic conditions affecting retail and commercial real estate, disruptions in the credit markets, changes in interest rates, adverse developments in the real estate market affecting the value and marketability of collateral securing loans made by the Bank, the failure of assumptions underlying loan loss and other reserves, competition, and Crescent's dependence on key personnel and management. Additional factors that could cause actual results to differ materially are discussed in Crescent's filings with the SEC, including without limitation its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. Crescent does not undertake a duty to update any forward-looking statements in this press release.        



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs