Vantagesouth Bancshares, Inc., formerly Crescent Financial Bancshares, Inc., is a holding company. It operates for the primary purpose of serving as the holding company for Crescent State Bank (CSB or the Bank). As of December 31, 2011, CSB operated 15 full service branch offices in the communities of Cary, Apex, Clayton, Holly Springs, Pinehurst, Raleigh, Southern Pines, Sanford, Garner, Wilmington and Knightdale, North Carolina. CSB is a community bank, which offers a range of banking services, including checking and savings accounts, individual retirement accounts (IRA�s), certificates of deposit (CD�s), commercial, consumer and personal loans, mortgage banking services and other associated financial services. These banking services are offered through its branch network and certain services are offered through its online banking platform. The Company is a successor company to Crescent Financial Corporation (CFC). In April 2013, it completed a merger with East Carolina Bancorp, Inc.