Bank of Granite

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

FDIC

Bank of Granite is headquartered in Charlotte and is the 28th largest bank in the state of North Carolina. It is also the 981st largest bank in the nation. It was established in 1906 and as of December of 2012, it had grown to 141 employees at 18 locations. Bank of Granite has a 1-star health rating.

Related Posts

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




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Bank of Granite Checking Account Rates

ApyMinMaxProduct
0.80%-$25kGranite Green

Rates updated: 5/20/2013

Data for Q4 2012


Institution Statistics


Bank of Granite
FDIC Certificate #5950
BankRate ReportView
Year Established1906
Employees141
Primary RegulatorFDIC

Assets and Liabilities

Assets$682.08 million
Loans$301.41 million
Deposits$613.91 million
Equity Capital$64.90 million
Loan Loss Allowance$5.95 million
Unbacked Noncurrent Loans$47.90 million
Real Estate Owned$15.02 million

Historic Data - December 2011

Assets$753.80 million
Equity Capital$62.97 million
Loan Loss Allowance$14,000
Unbacked Noncurrent Loans$9.11 million
Real Estate Owned$17.13 million

Profit Margin - Quarterly

Net Interest Margin4.18%
Return on Assets0.17%
Return on Equity1.95%
Interest Income$30.21 million

Institution Health


Overall Score:
1 out of 5
1
Texas Ratio1
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 December 31, 2012 Bank of Granite had $62.92 million in non-current loans and owned real-estate with $70.86 million in equity and loan loss allowances on hand to cover it. This gives Bank of Granite a Texas Ratio of 88.80% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Bank of Granite increased slightly from 41.67% as of December 31, 2011 to 88.80% as of December 31, 2012, resulting in a negative change of 113.11%. This indicates that the balance sheet and financial strength for Bank of Granite has declined slightly in recent periods.
Deposit Growth1
In the past year, Bank of Granite has decreased its total deposits by -$74.64 million, resulting in -10.84% 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.
Capitalization4
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 $682.08 million in assets with $70.86 million in equity, resulting in a capitalization level of 10.39%, which is above average.
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