Bank of Granite

23 North Main Street
Granite Falls, NC 28630
(828) 496-2000
www.bankofgranite.com

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Bank of Granite is headquartered in Granite Falls and is the 26^th largest bank in the state of North Carolina. It is also the 896^th largest bank in the nation. It was established in 1906 and as of March of 2012, it had grown to 163 employees at 18 locations. Bank of Granite has a 3-star health rating.

Bank of Granite in NC Slashes Its Reward Checking Rate (Forum) - 3/2/2010

The top rate plummeted from 4.00% to 0.85% APY. Note, the FDIC interest checking rate cap is 0.88%. I'm not sure if Bank of Granite is officially considered less than well capitalized. They are operating under a FDIC Cease and Desist order. On page 15 it

2.45% 12-Month CD at Bank of Granite in North Carolina - Local Only - 12/17/2009

Update 12/27/09: The 12-month special CD rate has fallen to 2.25% APY.Bank of Granite continues to offer one very competitive CD. It's a 12-month CD with a 2.45% APY. Last month this special had a 12-month term. There's also 1.75% APY 6-month CD. Minimum...

2.45% 15-Month CD at Bank of Granite in North Carolina - Local Only - 11/16/2009

Bank of Granite has a new CD promotion with three competitive CD rates: 2.45% APY for 15 months, 2.25% APY for 12 months and 1.95% APY for 9 months. Minimum deposit is $5,000. These specials are listed on the bank's front page as of 11/16/2009.Bank of...

2.25% 13-Month CD & 1.95% 7-Month CD at Bank of Granite in North Carolina - Local Only - 10/1/2009

Bank of Granite is offering two competitive CD specials: a 2.25% APY 13-month CD and a 1.95% APY 7-month CD. Minimum deposit is $10,000. There's also a money market account with a 1.50% APY for balances of at least $15,000. These specials are listed on...

2008

10/31 - 0.85% Reward Checking Account at Bank of Granite in North Carolina

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See Rates for: Checking | CD | IRA

Bank of Granite Checking Account Rates

	Apy	Min	Max	Product
	0.80%	-	$25k	Granite Green

Bank of Granite CD Rates

Apy	Min	Max	Product
1.25%	$100k	-	48 Month Jumbo CD
0.90%	$100k	-	24 Month Jumbo CD
0.70%	$100k	-	18 Month Jumbo CD
0.60%	$5k	-	12 Month CD

Bank of Granite IRA Rates

Apy	Min	Max	Product
1.25%	$100k	-	48 Month Jumbo IRA
1.25%	$100k	-	48 Month Jumbo Roth IRA
1.25%	$100k	-	48 Month Jumbo CESA
1.25%	$100k	-	48 Month Jumbo SEP IRA
0.90%	$100k	-	24 Month Jumbo IRA
0.90%	$100k	-	24 Month Jumbo Roth IRA
0.90%	$100k	-	24 Month Jumbo CESA
0.90%	$100k	-	24 Month Jumbo SEP IRA
0.70%	$100k	-	18 Month Jumbo IRA
0.70%	$100k	-	18 Month Jumbo Roth IRA
0.70%	$100k	-	18 Month Jumbo SEP IRA
0.70%	$100k	-	18 Month Jumbo CESA
0.60%	$5k	-	12 Month IRA
0.60%	$5k	-	12 Month Roth IRA
0.60%	$5k	-	12 Month CESA
0.60%	$5k	-	12 Month SEP IRA

Rates updated: 5/27/2012 * Not all products updated

Data for Q1 2012

Institution Statistics

Bank of Granite
FDIC Certificate #	5950
BankRate Report	View
Year Established	1906
Employees	163
Primary Regulator	FDIC
Assets and Liabilities
Assets	$749.12 million
Loans	$352.79 million
Deposits	$680.42 million
Equity Capital	$64.55 million
Loan Loss Allowance	$65,000
Unbacked Noncurrent Loans	$27.47 million
Real Estate Owned	$15.93 million
Historic Data - March 2011
Assets	$840.71 million
Equity Capital	$21.21 million
Loan Loss Allowance	$25.18 million
Unbacked Noncurrent Loans	$53.14 million
Real Estate Owned	$15.41 million
Profit Margin - Quarterly
Net Interest Margin	4.43%
Return on Assets	0.89%
Return on Equity	10.48%
Interest Income	$8.33 million

Institution Health

Overall Score:

3 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Bank of Granite had $43.4 million in non-current loans and owned real-estate with $64.61 million in equity and loan loss allowances on hand to cover it. This gives Bank of Granite a Texas Ratio of 67.16% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Bank of Granite decreased significantly from 151.66% as of March 31, 2011 to 67.16% as of March 31, 2012, resulting in a positive change of 55.72%.This indicates that the balance sheet and financial strength for Bank of Granite has improved significantly in recent periods.
Deposit Growth
In the past year, Bank of Granite has decreased its total deposits by -$110.53 million, resulting in -13.97% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Bank of Granite has shown is poor.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Bank of Granite has $749.12 million in assets with $64.61 million in equity, resulting in a capitalization level of 8.63%, which is average.