Bank of Granite Corp. of Granite Falls, N.C., said Wednesday that the Nasdaq stock market notified it that it now complies with the exchange's listing rules.
Also Wednesday, the $1 billion-asset company reported a "significant increase in troubled loan relationships," including a number of borrowers whose inability to pay became known late in the fourth quarter. Bank of Granite posted a preliminary 20% increase in the fourth quarter from the third quarter in nonaccruing loans and real estate assets, to $72 million from $60 million.
