Item 5.07. Submission of Matters to a Vote of Security Holders.
Crescent Financial Bancshares, Inc. (the "Company") held a Special Meeting of Stockholders on November 30, 2012. At the meeting, the Stockholders cast their votes as set forth below.

Proposal 1: Proposal to approve the issuance of up to 7,368,140 shares of our common stock under the Agreement and Plan of Merger dated August 10, 2012, by and among the VantageSouth Bank, Crescent State Bank and the Company.

As disclosed in the Company's proxy statement, this proposal required the affirmative vote of a majority of the total votes cast at the special meeting for approval. In addition, pursuant to the Agreement and Plan of Merger, this proposal also required the approval by the holders of shares of the Company's common stock who are unaffiliated with Piedmont Community Bank Holdings, Inc. and who represent at least a majority of the total shares held by such unaffiliated holders (the "Unaffiliated Stockholders"). This proposal was approved based on the following votes:

Among the Unaffiliated Stockholders:

Broker For Against Abstentions Non-Votes
1,768,419 29,520 36,109 -

Among All Stockholders:

Broker For Against Abstentions Non-Votes 26,648,751 29,520 36,109 -

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