Bank of Granite


1017 East Morehead Street
Charlotte, NC 28201
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.85% →
1-Year CD N.A. 0.75% →
2-Year CD N.A. 0.80% →
5-Year CD N.A. 1.25% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Bank of Granite is an FDIC insured institution located in Charlotte, NC. It was founded in 1906 and has approximately $0.67 billion in assets.

FDIC Insured Yes
FDIC Certificate # 5950
Date Established 1906
Assets $ 666.95 million
Loans $ 275.03 million
Deposits $ 599.28 million
Capital $ 63.79 million

For a more detailed analysis of Bank of Granite's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 19, 2021

Your Current Location: Connecticut, CT 06828


Loan Rates - October 19, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Bank of Granite

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Connecticut 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Learn More
NMLS ID: 2890
License#: 13256
2.816% 2.750%
0.88 points
$2,138 fees
$1,021 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info

Note to Bank of Granite
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Financial Details

Bank of Granite Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of Granite. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Bank of Granite U.S. Bank Average
75.45% 4.78%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of June 30, 2021, Bank of Granite had $38,108,000 in non-current loans and $14,703,000 in owned real estate. To cover these potential losses it had $63,788,000 in equity and $6,209,000 in loans loss reserves. That gives it a Texas Ratio of 75.45%.

Return on Equity
Bank of Granite U.S. Bank Average
1.44% 11.29%

Bank of Granite has a Return on Equity of 1.44% versus the BestCashCow average of 11.29%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Bank of Granite U.S. Bank Average
9.56% 11.72%

Bank of Granite has a Capitalization of 9.56% versus the BestCashCow average of 11.72. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Bank of Granite Balance Sheet Analysis

As of March 31, 2013, Bank of Granite had assets of $666,954,000, loans of $275,026,000, and deposits of $599,277,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

June 30, 2021
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 275.03 million
Loan loss allowance $ 6.21 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 14.70 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
Total deposits $ 599.28 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 666.95 million

Summary Income Statement

June 30, 2021
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Bank of Granite’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in North Carolina, Bank of Granite has a significantly higher percent of Small Business Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 33.05
Credit Card Loans 0.00
Consumer Auto Loans 0.04
Small Business Loans 26.87
Construction and Development Loans 1.18
Commercial Real Estate 53.57
Commercial and Industrial Loans 9.35
Farm Loans 0.01

Frequently Asked Questions About Bank Of Granite

Branches and Savings

Is Bank Of Granite FDIC insured?

Yes. It is covered under FDIC Certificate #5950.

Why does Bank Of Granite pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Bank Of Granite CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Bank Of Granite a commercial bank?


Where are Bank Of Granite locations?

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Does Bank Of Granite require US citizenship to open account?

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Does Bank Of Granite offer mortgages?

Compare mortgage rates here.

Does Bank Of Granite offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank Of Granite offer personal loans?

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Does Bank Of Granite offer student loans?

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Background on The Bank

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