Bank of Granite Corporation operates as the holding company for Bank of Granite that provides commercial banking services in North Carolina. The bank’s principal community banking activities include accepting demand and time deposits; and granting secured and unsecured loans to individuals, associations, partnerships, and corporations. It also engages in mortgage banking activities, which include originating, underwriting, retaining, and selling mortgage loans to individuals; selling mortgage servicing rights and appraisal services; and providing government guaranteed mortgage products. As of January 31, 2007, the bank operated 22 branches in Burke, Caldwell, Catawba, Forsyth,...