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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT PURSUANT TO SECTION 13
OR 15(d) OF<BR>
THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): April 5<I>,</I> 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CRESCENT FINANCIAL BANCSHARES, INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Exact name of registrant as specified
in its charter)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; font-size: 10pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 30%; font-size: 10pt; font-weight: bold; text-align: center">000-32951</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 30%; font-size: 10pt; font-weight: bold; text-align: center">45-2915089</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: center">(State or other jurisdiction of<BR> incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: center">(Commission<BR> File Number)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: center">(IRS Employer<BR> Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">3600 Glenwood Avenue, Suite 300</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Raleigh, North Carolina 27612</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Address of principal executive offices)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;(919) 659-9000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Registrant&rsquo;s telephone number,
including area code)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Former name or former address, if changed
since last report)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 10%"><B>Item 5.02.</B></TD><TD STYLE="width: 2%; text-align: left"><B></B></TD><TD STYLE="text-align: justify; width: 88%"><B>Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 66pt; text-indent: -66pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">On April 4, 2012, Scott Custer, the President
and Chief Executive Officer of Crescent Financial Bancshares, Inc. (the &ldquo;Company&rdquo;), and the Chief Executive Officer
of Crescent State Bank (the &ldquo;Bank&rdquo;), entered into an Amended and Restated Employment Agreement (the &ldquo;Employment
Agreement&rdquo;) with the Company, the Bank and Piedmont Community Bank Holdings, Inc., a multi-bank holding company and the owner
of approximately 88% of the Company&rsquo;s outstanding shares of common stock (&ldquo;Piedmont&rdquo;). The original employment
agreement between Mr. Custer and Piedmont was entered into on December 16, 2009 in connection with Mr. Custer&rsquo;s service as
Chief Executive Officer of Piedmont, but was amended and restated to, among other things, add the Company and the Bank as parties
to the agreement, and reflect his appointment as an executive officer of the Company and the Bank. The Employment Agreement has
an effective date of January 1, 2012, which is the date that Mr. Custer began to receive his compensation from the Bank for the
services rendered to the Company, the Bank and Piedmont.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Employment Agreement has a three-year
term from the original effective date of December 16, 2009, which term will automatically be extended by additional one-year terms
thereafter on each anniversary of the original effective date, provided that no party delivers ninety days prior written notice
of termination. The Employment Agreement provides that Mr. Custer will receive an annual salary in 2012 of $320,000 for all services
as an officer, director, and employee of Piedmont, the Company and the Bank, as well as any of their affiliates (the &ldquo;Employer
Group&rdquo;). After 2012, the amount of Mr. Custer&rsquo;s salary will be determined by the Company&rsquo;s Board of Directors,
provided that it will be no less than $300,000 per year. The Employment Agreement also provides that Mr. Custer is eligible to
receive a performance bonus of up to two times his salary each year based on the achievement of performance measures to be determined
by the Company&rsquo;s board of directors, as advised by the compensation committee of the board of directors, for 2012 and in
future years. Additionally, the Employment Agreement provides that Mr. Custer will receive grants of options for Piedmont stock
in an amount equal 2% of equity issued in Piedmont equity financings, subject to certain limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Employment Agreement also provides that
Mr. Custer is entitled to benefits that senior executive officer of the Employer Group become entitled to under benefit plans and
programs approved by the respective boards of directors of the Employer Group, including participation in any 401(k) plan and medical,
dental, disability, and life insurance plans, subject to the terms of such plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Employment Agreement provides that if
Mr. Custer&rsquo;s employment is terminated by the Employer Group without cause (as defined therein), he will receive severance
payments equal to the monthly amount of his base salary for eighteen months following his termination of employment, subject to
the execution of a release of claims against the Company and its affiliates and Mr. Custer&rsquo;s compliance with certain obligations,
including prohibitions on competing with the Employer Group and soliciting the Employer Group&rsquo;s customers and employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">The Employment Agreement further provides
that payment of the salary, bonus and any severance payments owed to Mr. Custer under the agreement may be apportioned by members
of the Employer Group for which Mr. Custer is performing services as they may agree from time to time. In this regard, since January
1, 2012, Piedmont has provided monthly reimbursement to the Bank in the amount of 25% of the salary and benefit costs attributable
to Mr. Custer. The portion of such costs paid by Piedmont and the Bank are based upon the estimated amount of work performed by
Mr. Custer for each of these entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt; text-align: left">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 10%"><B>Item 9.01.</B></TD><TD STYLE="width: 2%; text-align: left"><B></B></TD><TD STYLE="text-align: justify; width: 88%"><B>Financial Statements and Exhibits</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 10%; vertical-align: top; border-bottom: black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;No.&nbsp;&nbsp;</B></P></TD>
    <TD STYLE="width: 90%; vertical-align: bottom; border-bottom: black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">10.1</TD>
    <TD STYLE="font-size: 10pt">Amended and Restated Executive Employment Agreement, dated as of April4, 2012, by and among Crescent Financial Bancshares, Inc., Crescent State Bank, Piedmont Community Bank Holdings, Inc. and Scott Custer.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Signatures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Date: April 5, 2012</TD>
    <TD COLSPAN="2">CRESCENT FINANCIAL BANCSHARES, INC.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt">/s/ Terry S. Earley</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>Name:&nbsp; Terry S. Earley</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>Title:&nbsp;&nbsp;&nbsp; Chief Financial Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>



<P STYLE="margin: 0"></P>

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[{"type": "8-K", "sequence": "1", "filename": "v308636_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 18144}]
{"company-data": {"conformed-name": "Crescent Financial Bancshares, Inc.", "cik": "0001143921", "assigned-sic": "6022", "irs-number": "452915089", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-32951", "film-number": "12745539"}, "business-address": {"street1": "3600 GLENWOOD AVENUE", "street2": "SUITE 300", "city": "RALEIGH", "state": "NC", "zip": "27612-4937", "phone": "(919) 659-9000"}, "mail-address": {"street1": "3600 GLENWOOD AVENUE", "street2": "SUITE 300", "city": "RALEIGH", "state": "NC", "zip": "27612-4937"}, "former-company": {"former-conformed-name": "CRESCENT FINANCIAL CORP", "date-changed": "20010627"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13
OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): April 5
,
2012
CRESCENT FINANCIAL BANCSHARES, INC.
(Exact name of registrant as specified
in its charter)
Delaware
000-32951
45-2915089
(State or other jurisdiction of
incorporation or organization)
(Commission
File Number)
(IRS Employer
Identification No.)
3600 Glenwood Avenue, Suite 300
Raleigh, North Carolina 27612
(Address of principal executive offices)
(919) 659-9000
(Registrant's telephone number,
including area code)
Not Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
£
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02.
Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On April 4, 2012, Scott Custer, the President
and Chief Executive Officer of Crescent Financial Bancshares, Inc. (the "Company"), and the Chief Executive Officer
of Crescent State Bank (the "Bank"), entered into an Amended and Restated Employment Agreement (the "Employment
Agreement") with the Company, the Bank and Piedmont Community Bank Holdings, Inc., a multi-bank holding company and the owner
of approximately 88% of the Company's outstanding shares of common stock ("Piedmont"). The original employment
agreement between Mr. Custer and Piedmont was entered into on December 16, 2009 in connection with Mr. Custer's service as
Chief Executive Officer of Piedmont, but was amended and restated to, among other things, add the Company and the Bank as parties
to the agreement, and reflect his appointment as an executive officer of the Company and the Bank. The Employment Agreement has
an effective date of January 1, 2012, which is the date that Mr. Custer began to receive his compensation from the Bank for the
services rendered to the Company, the Bank and Piedmont.
The Employment Agreement has a three-year
term from the original effective date of December 16, 2009, which term will automatically be extended by additional one-year terms
thereafter on each anniversary of the original effective date, provided that no party delivers ninety days prior written notice
of termination. The Employment Agreement provides that Mr. Custer will receive an annual salary in 2012 of $320,000 for all services
as an officer, director, and employee of Piedmont, the Company and the Bank, as well as any of their affiliates (the "Employer
Group"). After 2012, the amount of Mr. Custer's salary will be determined by the Company's Board of Directors,
provided that it will be no less than $300,000 per year. The Employment Agreement also provides that Mr. Custer is eligible to
receive a performance bonus of up to two times his salary each year based on the achievement of performance measures to be determined
by the Company's board of directors, as advised by the compensation committee of the board of directors, for 2012 and in
future years. Additionally, the Employment Agreement provides that Mr. Custer will receive grants of options for Piedmont stock
in an amount equal 2% of equity issued in Piedmont equity financings, subject to certain limitations.
The Employment Agreement also provides that
Mr. Custer is entitled to benefits that senior executive officer of the Employer Group become entitled to under benefit plans and
programs approved by the respective boards of directors of the Employer Group, including participation in any 401(k) plan and medical,
dental, disability, and life insurance plans, subject to the terms of such plans.
The Employment Agreement provides that if
Mr. Custer's employment is terminated by the Employer Group without cause (as defined therein), he will receive severance
payments equal to the monthly amount of his base salary for eighteen months following his termination of employment, subject to
the execution of a release of claims against the Company and its affiliates and Mr. Custer's compliance with certain obligations,
including prohibitions on competing with the Employer Group and soliciting the Employer Group's customers and employees.
The Employment Agreement further provides
that payment of the salary, bonus and any severance payments owed to Mr. Custer under the agreement may be apportioned by members
of the Employer Group for which Mr. Custer is performing services as they may agree from time to time. In this regard, since January
1, 2012, Piedmont has provided monthly reimbursement to the Bank in the amount of 25% of the salary and benefit costs attributable
to Mr. Custer. The portion of such costs paid by Piedmont and the Bank are based upon the estimated amount of work performed by
Mr. Custer for each of these entities.
Item 9.01.
Financial Statements and Exhibits
(d)           Exhibits.
Exhibit
No.
Description
10.1
Amended and Restated Executive Employment Agreement, dated as of April4, 2012, by and among Crescent Financial Bancshares, Inc., Crescent State Bank, Piedmont Community Bank Holdings, Inc. and Scott Custer.
Signatures
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 5, 2012
CRESCENT FINANCIAL BANCSHARES, INC.
By:
/s/ Terry S. Earley
Name:  Terry S. Earley
Title:    Chief Financial Officer