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Share Price of Bank of Granite Stock Nearly Triples in 2010 PDF Print
Written by Adam Hicks   
Friday, 15 January 2010 06:21

Things seem to be looking up for a locally run bank.


Bank of Granite Corporation’s share price has nearly tripled in the past two weeks and analysts have said investors could also be gaining confidence in the bank’s recent performance in handling problem loans.

Media General News Source reports the Granite Falls-based bank as seen the share price rise as much as 25 percent Thursday before closing up 30 cents to $1.50.  On December 31, Bank of Granite stock was selling for $0.51 per share.

As we reported last fall, the bank was placed under an “order to cease and desist” in September from the Federal Deposit Insurance Corporation and the N.C. Commissioner of Banks.


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