Bank of Granite in Granite Falls, North Carolina (NC)



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Bank of Granite
GeneralFDIC Certificate #: 5950
Status: Active
Federal Reserve ID: 470724
Bank Holding Company (Regulatory Top Holder): Fnb United Corp. (RSSDID: 1133473, Location: Asheboro, NC)
Date Established: January 01, 1906
WWW: http://www.bankofgranite.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 18 (Domestic: 18, Interstate: No)
OTS Docket #: 13976
FDIC's unique #: 4039
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 23 North Main Street, Granite Falls, NC 28630
County: Caldwell
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Charlotte
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Hickory-Morganton-Lenoir, NC (#3290)
Core Based Statistical Area (CBSA): Hickory-Lenoir-Morganton, NC (#25860)
CBSA Metro Statistical Area: Hickory-Lenoir-Morganton, NC (#25860)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $753.5 mil
Equity capital: $63.0 mil
Deposits held in domestic offices: $688.5 mil
Return on assets (ROA): 0.37% ($2.8 mil)
Quarterly return on assets: 1.58% ($11.9 mil)
Return on Equity (ROE): 10.38% ($6.5 mil)
Quarterly return on equity: 29.48% ($18.6 mil)
Net income: $3.0 mil
Quarterly Net income: $3.0 mil
Pretax return on assets: 0.37% ($2,787.9 mil)
Quarterly Pretax return on assets: 1.59% ($11,980.3 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)164
Total assets$753,477
Cash and due from depository institutions$143,890
Interest-bearing balances$131,201
Securities$188,927
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$373,863
Loan loss allowance $14
Trading account assets$0
Bank premises and fixed assets$9,626
Other real estate owned$17,739
Goodwill and other intangibles$7,368
All other assets$12,064
Life insurance assets$753,477
Total liabilities and capital$690,509
Total liabilities$688,544
Total deposits$604,325
Interest-bearing deposits$688,544
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $1,965
All other liabilities $62,968
Total equity capital$62,968
Total bank equity capital$62,968
Perpetual preferred stock$0
Common stock$0
Surplus$59,924
Undivided profits $3,044
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $9,110
Earning assets $0
Long-term assets (5+ years) $2,647
Average Assets, year-to-date $693,991
Average Assets, quarterly $153,039
Volatile liabilities $808,388
Insider loans $759,592
FHLB advances $454,420
Loans and leases held for sale $761,178
Unused loan commitments $4,460
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $55,560
Total risk weighted assets $4,460
Total unused commitments $0
Restructured Loans and leases $56,733
Derivatives$111
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,009
Total interest expense $673
Net interest income $6,336
Provision for loan and lease losses $0
Total noninterest income $866
Fiduciary activities $0
Service charges on deposit accounts $629
Trading account gains & fees $0
Additional noninterest income $237
Total noninterest expense $4,174
Salaries and employee benefits $1,809
Premises and equipment expense $504
Additional noninterest expense $1,861
Pre-tax net operating income $3,028
Securities gains (losses) -$10
Applicable income taxes $14
Income before extraordinary items $3,004
Extraordinary gains - net $0
Net income attributable to bank $3,004
Net charge-offs $0
Cash dividends $3,004
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.93%
Cost of funding earning assets 0.09%
Net interest margin 0.84%
Noninterest income to earning assets 0.11%
Noninterest expense to earning assets 0.55%
Net operating income to assets 0.37%
Return on assets (ROA) 0.37%
Pretax return on assets 0.37%
Return on equity (ROE) 10.38%
Retained earnings to average equity (YTD only) 10.38%
Net charge-offs to loans 0.00%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$56,540
Cash dividends to net income (YTD only)4.59%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.00%
Noncurrent assets plus other real estate owned to assets 0.15%
Noncurrent loans to loans 3.56%
Net loans and leases to deposits2.44%
Net loans and leases to core deposits 54.30%
Equity capital to assets 55.99%
Core capital (leverage) ratio 8.36%
Tier 1 risk-based capital ratio 7.30%
Total risk-based capital ratio 12.23%
Memoranda
Average assets$12
Average earning assets$808,388
Average equity $28,949
Average loans $757,094
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18 North Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
04039Bank Of Granite23 North Main Street, Granite Falls, NC 28630January 01, 1906Full Service Brick and Mortar
1208520Hudson Office537 Main Street, Hudson, NC 28638September 01, 1961Full Service Brick and Mortar
2208521Lenoir Office707 College Avenue Sw, Lenoir, NC 28645Febuary 23, 1960Full Service Brick and Mortar
3208522Hickory Office25 Third Street, N.W., Hickory, NC 28601July 20, 1970Full Service Brick and Mortar
4208523Whitnel Office1351 Norwood Street, S.W., Lenoir, NC 28645May 03, 1972Full Service Brick and Mortar
5208524Newton Office311 North Main Avenue, Newton, NC 28658Febuary 01, 1984Full Service Brick and Mortar
6208525Springs Road Office2220 12th Avenue, N.E., Hickory, NC 28601October 01, 1985Full Service Brick and Mortar
7208526Viewmont Office1420 2nd Street, Ne, Hickory, NC 28601July 15, 1987Full Service Brick and Mortar
8208527Morganton Office201 East Meeting Street, Morganton, NC 28655July 10, 1989Full Service Brick and Mortar
13208532Mountain View Office2900 Highway 127 South, Hickory, NC 28602March 16, 1998Full Service Brick and Mortar
1656973Charlotte / Uptown Office301 South Mcdowell Street, Suite 100, Charlotte, NC 28204July 31, 1996Full Service Brick and Mortar
17290475South Park Office3920 Sharon Road, Charlotte, NC 28211January 02, 1998Full Service Brick and Mortar
18357572Cornelius Office18225 West Catawba Avenue, Cornelius, NC 28031June 12, 2000Full Service Brick and Mortar
19424739Conover Office1109 Conover Boulevard East, Conover, NC 28613December 15, 2003Full Service Brick and Mortar
20429655Wilkesboro Office2841 Highway 421 West, Wilkesboro, NC 28697August 29, 2003Full Service Brick and Mortar
21429656Boone Office230 Wilson Drive, Boone, NC 28607August 29, 2003Full Service Brick and Mortar
23439915Matthews Office2432 Mckee Road, Matthews, NC 28105April 04, 2005Full Service Brick and Mortar
24455605Statesville Office207 South Center Street, Statesville, NC 28677October 10, 2006Full Service Brick and Mortar
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