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) January 19, 2007
CRESCENT FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
| North Carolina | 000-32951 | 56-2259050 | ||
| (State or other jurisdiction | (Commission File No.) | (IRS Employer | ||
| of incorporation) | Identification number) |
1005 HIGH HOUSE ROAD, CARY, NC 27513
(Address of principal executive offices)
Registrant’s telephone number, including area code (919) 460-7770
Not Applicable
(Former address of principal executive offices)
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 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On January 19, 2007, Crescent Financial Corporation (the “Registrant”) announced financial results for the fourth quarter and year ended December 31, 2006. For the fourth quarter, the Registrant reported unaudited net income of $1,643,000 compared to $1,005,000 for the quarter ended December 31, 2005. The Registrant reported diluted per share earnings of $0.19 for the quarter. For the year ended December 31, 2006, the Registrant reported unaudited net income of $4,904,000 compared to $3,144,000 for the year ended December 31, 2005. The Registrant reported diluted per share earnings of $0.69 for the year. A copy of the press release (the “Press Release”) announcing the Registrant’s results for the fourth quarter and year ended December 31, 2006 including a table of selected financial information is attached hereto as Exhibit 99.1 and incorporated by reference herein.
The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
The following exhibits are filed herewith:
| EXHIBIT NO. |
DESCRIPTION OF EXHIBIT | |
| 99.1 |
Press Release dated January 19, 2007 with respect to the Registrant’s financial results for the fourth quarter and year ended December 31, 2006 |
This Current Report on Form 8-K (including information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Registrant’s goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook” or similar expressions. These statements are based upon the current belief and expectations of the Registrant’s management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Registrant’s control).
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.
| CRESCENT FINANCIAL CORPORATION | ||
| By: | /s/ Michael G. Carlton | |
| Michael G. Carlton | ||
| President and Chief Executive Officer | ||
Dated: January 23, 2007
EXHIBIT INDEX
| Exhibit Number |
Description of Exhibit | |
| 99.1 |
Press Release dated January 19, 2007 with respect to the Registrant’s financial results for the fourth quarter and year ended December 31, 2006 |