Item 2.02 Results of Operations and Financial Condition.

On January 31, 2013, Crescent Financial Bancshares, Inc. filed a pre-effective amendment to its Registration Statement on Form S-4 that included the following summary financial information for ECB Bancorp, Inc. ("ECB Bancorp") for the three months and year ended December 31, 2012:

ECB Bancorp's net income for the fourth quarter of 2012 was $378,000, compared to a net loss of $(1,612,000) for the fourth quarter of 2011. Annual net income for 2012 totaled $2,992,000 compared to a loss of $(1,024,000) for 2011.

Credit expense was a major contributor to the improvement in 2012 earnings with fourth quarter 2012 net charge offs totaling $1.73 million as compared to $2.37 million for the fourth quarter of 2011. Annual net charge offs for 2012 totaled $5.22 million as compared to $9.63 million for 2011.

Net interest margin for 2012 was 3.24% as compared to 3.20 % for 2011.

ECB Bancorp will be issuing a full earnings release for the three months and year ended December 31, 2012 the week of February 4, 2013. The above abbreviated financial information will be included in the full release.

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