AGREEMENT AND PLAN OF MERGER BY AND BETWEEN CRESCENT FINANCIAL CORPORATION AND CRESCENT FINANCIAL BANCSHARES, INC.Merger Agreement • November 16th, 2011 • Crescent Financial Bancshares, Inc. • State commercial banks
THIS AGREEMENT AND PLAN OF MERGER (the “Agreement”) is entered into as of the 2nd day of May 2011, by and between CRESCENT FINANCIAL CORPORATION, Cary, North Carolina, a North Carolina business corporation (“Crescent”), and CRESCENT FINANCIAL BANCSHARES, INC., Cary, North Carolina, a Delaware corporation and wholly-owned subsidiary of Crescent (“NewCo”). Crescent and NewCo are sometimes referred to herein as the “Constituent Corporations.”
