| Business Summary | | Bank
of
Granite
Corporation,
a
bank
holding
company,
engages
in
no
operations
other
than
ownership
and
operation
of
Bank
of
Granite,
a
state
bank,
and
GLL
&
Associates,
Inc.,
a
mortgage
bank.
The
Company
conducts
its
banking
business
from
14
offices
located
in
Caldwell,
Catawba
and
Burke
counties
in
North
Carolina.
The
Bank's
principal
activities
include
the
taking
of
demand
and
time
deposits
and
the
making
of
loans,
secured
and
unsecured,
to
individuals,
associations,
partnerships
and
corporations.
The
majority
of
its
customers
are
individuals
and
small
businesses.
The
Company
conducts
its
mortgage
banking
business
from
seven
offices
in
the
Central
and
Southern
Piedmont
and
Catawba
Valley
regions
of
North
Carolina.
GLL's
principal
activities
include
the
origination
and
underwriting
of
mortgage
loans
to
individuals.
GLL
also
sells
mortgage
servicing
rights
and
appraisal
services,
and
specializes
in
government
guaranteed
mortgage
products.
The
majority
of
its
customers
are
individuals. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Bank
of
Granite
Corp.,
is
a
holding
company
for
Bank
of
Granite,
a
commercial
bank
with
branches
located
in
NC,
and
GLL
and
Associates,
a
mortgage
bank.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
4%
to
$27.6
million.
Net
interest
income
after
loan
loss
prov.
fell
15%
to
$13.9
million.
Net
income
fell
16%
to
$6.5
million.
Net
interest
income
reflects
increased
interest
earning
assets,
offset
by
higher
deposits.
Earnings
reflect
an
increase
in
salaries. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| John Forlines, Jr., 82 Chairman,
CEO | $348K | $53K | Charles Snipes, 67 Pres | 279K | 53K | Kirby Tyndall, 45 CFO,
Sr. VP, Treasurer, Sec.; Director of GLL | 137K | -- | Gary Lackey, 50 Pres
and CEO of GLL | 147K | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|