Item 8.01. Other Events.

On November 14, 2008, Crescent Banking Company (the "Company") filed an application to participate in the Capital Purchase Program administered by the U.S. Department of the Treasury (the "Treasury") under the Troubled Asset Relief Program. On March 3, 2009, the Company voluntarily withdrew its application to participate in the Capital Purchase Program. The Company will consider whether to apply to participate in the Treasury's recently announced Capital Assistance Program as additional details about such program become available.