UNITED STATES

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): July 1223, 2010

CRESCENT BANKING COMPANY

(Exact name of registrant as specified in its charter)

Georgia	0-20251	58-1968323
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
7 Caring Way, Jasper, Georgia		30143
(Address of principal executive offices)		(Zip Code)

7 Caring Way, Jasper, Georgia		30143
(Address of principal executive offices)		(Zip Code)

(678) 454-2266

(Registrant’s telephone number, including area code)

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

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

¨	Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act

Item 3 1.0102. ~~Notice~~Termination of ~~Delisting or Failure to Satisfy~~ a ~~Continued~~Material ~~Listing~~Definitive ~~Rule or Standard; Transfer of Listing~~Agreement.

OnPlease ~~July 12,~~refer ~~2010,~~to ~~Crescent Banking Company (~~the ~~“Company”)~~disclosures ~~issued~~set aforth ~~press~~in ~~release~~Item 1.03 ~~announcing that~~of itthis ~~has~~Current ~~notified~~Report ~~The~~on ~~Nasdaq~~Form ~~Stock~~8-K ~~Market~~ (this “~~Nasdaq~~Report”) ~~of its intent to file a Form 25 with the Securities and Exchange Commission and to cease trading its common stock on Nasdaq, effective July 22, 2010~~.

~~The~~Item ~~Company~~1.03. ~~received~~Bankruptcy a letter from the Nasdaq Listing Qualifications Department of Nasdaq on April 12, 2010, notifying the Company of its failure to meet the minimum requirements of Nasdaq’s Equity Standard Listing Rule 5550(b) (the “ Listing Rule”) to maintain a minimum of $2,500,000 in stockholders’ equity, $35,000,000 market value of listed securities, or ~~$500,000~~ ~~of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years~~Receivership. ~~To date, the Company has been unable to meet the minimum requirements of the Listing Rule; consequently, the Company has decided to file a Form 25 to delist its common stock from Nasdaq.~~

~~Pursuant~~On toJuly 23, ~~General Instruction~~2010, Fthe toGeorgia ~~the~~Department ~~Securities~~of Banking and ~~Exchange~~Finance ~~Commission’s~~(the ~~Form~~“Georgia ~~8-K~~Department”) closed Crescent Bank and Trust Company (“~~General~~Crescent ~~Instruction F~~Bank”), athe ~~copy~~wholly ofowned ~~the~~commercial ~~press~~banking ~~release~~subsidiary isof ~~attached~~Crescent toBanking ~~this~~Company ~~Report~~(the on“Company”), ~~Form~~and ~~8-K~~the asFederal ~~Exhibit~~Deposit ~~99.1~~Insurance ~~and~~Corporation is(the ~~incorporated~~“FDIC”) ~~into~~was ~~this~~named ~~Item 3.01~~as bythe ~~this~~receiver of Crescent ~~reference~~Bank. The ~~information~~Company’s ~~contained~~principal inasset ~~this~~is ~~Item 3.01, including~~ the ~~related~~common ~~information~~stock ~~set~~that ~~forth~~it owns in ~~the~~Crescent ~~press~~Bank, ~~release~~and, ~~attached~~as ~~hereto~~a ~~and~~result ~~incorporated~~of bythe ~~reference~~closure ~~herein~~of Crescent Bank, isthe ~~being~~Company ~~“furnished”~~has ~~and~~very ~~shall~~limited ~~not~~remaining betangible ~~deemed “filed”~~assets. ~~for~~As the ~~purposes~~owner of ~~Section 18~~all of the ~~Securities~~capital ~~Exchange~~stock ~~Act~~ of Crescent ~~1934~~Bank, ~~as amended (~~the ~~“Exchange~~Company ~~Act”),~~would orbe ~~otherwise~~entitled ~~subject~~ to the ~~liabilities~~net ofrecoveries, ~~that~~if ~~Section. The~~any, ~~information~~following inthe ~~this~~liquidation ~~Item 3.01~~or ~~shall~~sale ~~not be~~of ~~incorporated~~Crescent byBank ~~reference into any registration statement~~ or ~~other~~its ~~document~~assets ~~filed~~by ~~pursuant to~~ the ~~Securities~~FDIC. ~~Act of 1933~~However, asat ~~amended~~this time, orthe ~~into~~Company ~~any~~is ~~document~~unable ~~filed pursuant~~ to ~~the~~provide ~~Exchange~~any ~~Act,~~assurance ~~except~~that asany ~~otherwise~~recovery ~~expressly~~will ~~stated~~be realized by the Company in or the timing of any such ~~filing~~recovery.

~~Item~~In connection with the closure of Crescent Bank, the FDIC issued a press release, dated July ~~9.01.~~23, ~~Financial~~2010, ~~Statements~~announcing ~~and~~the ~~Exhibits.~~following:

• The FDIC entered into a purchase and assumption agreement with Renasant Bank of Tupelo, Mississippi (d“Renasant”), ~~Exhibits~~pursuant to which Renasant assumed all of the deposits of Crescent Bank. Accordingly, all depositors of Crescent Bank, including those with deposits in excess of the FDIC’s insurance limits, will automatically become depositors of Renasant for the full amount of their deposits, and they will continue to have uninterrupted access to their deposits. Depositors will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance.

Exhibit No.		Description
99.1		Press release issued by Crescent Banking Company on July 12, 2010.*

•

Crescent Bank’s eleven branches reopened under normal business hours on Saturday, July 24, 2010, as branches of Renasant. However, for a period of time, customers of Crescent Bank should continue to use Crescent Bank’s office locations until Renasant can fully integrate the deposit records of Crescent Bank.

*• ~~Furnished~~In ~~electronically~~addition asto anassuming ~~exhibit~~all toof ~~this~~the ~~Report.~~deposits Asof ~~further~~Crescent ~~described~~Bank, inRenasant ~~Item~~purchased 3essentially all of Crescent Bank’s assets, which totaled approximately $1.01 billion as of ~~this~~March ~~Report~~31, ~~this~~2010, ~~exhibit~~and isentered ~~being~~into ~~“furnished”~~a ~~and~~loss-share ~~not~~transaction ~~“filed”~~with the FDIC with ~~this~~respect ~~Report~~to approximately $617.4 million of Crescent Bank’s assets.

•

Customers who have questions about the foregoing matters, or who would like more information about the closure of Crescent Bank, can visit the FDIC’s website located at http://www.fdic.gov/bank/individual/failed/crescentga.html, or call the FDIC toll-free at 1-800-523-8177.

A complete copy of the FDIC’s press release can be found on the Internet at http://www.fdic.gov/news/news/press/2010/pr10164.html. To date, except as described above, no other entity or newly chartered bank has been involved in the process of closing and unwinding Crescent Bank. The management teams of the Company and Crescent Bank have been working closely with the Georgia Department, the FDIC and Renasant to make the transition as smooth as possible for Crescent Bank’s customers.

In connection with the receivership of Crescent Bank, both the Company and Crescent Bank expect to receive notices from substantially all of the counterparties (including, without limitation, lenders) to the Company’s and/or Crescent Bank’s material agreements of alleged events of default under

those agreements, and of those counterparties’ intentions to terminate those agreements or accelerate the Company’s and/or Crescent Bank’s performance of those agreements. The Company and/or Crescent Bank may dispute certain of those notices. However, in the event of a default by the Company and/or Crescent Bank under one or more of those material agreements, or in the event of the termination of one or more of the material agreements, the Company’s and/or Crescent Bank’s financial and other obligations under such agreements may be accelerated. The Company and/or Crescent Bank may be subject to penalties under those agreements and also may suffer cross-default claims from counterparties under the Company’s and/or Crescent Bank’s other agreements.

Item 2.04.

Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

Please refer to the disclosures set forth in Item 1.03 of this Report.

SIGNATURE

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 BANKING COMPANY By: /sS/ J. ~~Donald~~DONALD ~~Boggus~~BOGGUS, JrJR. J. Donald Boggus, Jr. President and Chief Executive Officer

Date: July 13 26, 2010

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