Bank of Granite Corporation is the holding company for Bank of Granite (the Bank), an independent community bank, and GLL & Associates, Inc., a mortgage bank. The Banks 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 in North Carolina. GLLs principal activities include the origination and underwriting of mortgage loans to individuals. GLL also sells mortgage servicing rights and appraisal services. GLL specializes in government-guaranteed mortgage products. The majority of its customers are individuals.