What happened to Bank of Granite?
Bank of Granite, a historic North Carolina-based financial institution, underwent a series of major corporate restructurings and ownership changes following the aftermath of the 2008 financial crisis and regional banking pressures. The bank was acquired through a multi-million-dollar recapitalization and merger agreement orchestrated by FNB United Corp. and private equity backing. These corporate maneuvers integrated its historic community banking branches into a larger regional banking network, retiring its legacy stock ticker and merging its operations into a broader corporate entity.
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