Has anyone heard the rumor that Bank ...

Has anyone heard the rumor that Bank of Granite may be took over

Posted in the Lenoir Forum

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Burke county flash

Black Mountain, NC

#1 Sep 17, 2009
Thursday or friday of this week.
Burke county flash

Black Mountain, NC

#2 Sep 17, 2009
Is it true Bank of Granite will be taken over this week?
foryourinfo

Polkville, NC

#3 Sep 17, 2009
Burke county flash wrote:
Is it true Bank of Granite will be taken over this week?
They're already there. NOW!
Burke county flash

Black Mountain, NC

#4 Sep 17, 2009
Thats what I heard today. Also heard their had already been a lot of withdrawals
foryourinfo

Polkville, NC

#5 Sep 17, 2009
They came in Tuesday(I think) investigating the bad decisions that have been made. I believe the bank is on hold from lending or investing or borrowing. The banks losses were more than reported at first from bad investments or other means but they corrected them. Just type in Bank of Granite on your search bar. Read for yourself. You may also have to type in Lenoir, N.C. but I don't think so.
bailjumper

Four Oaks, NC

#6 Sep 17, 2009
Anybody heard that tomorrow all money if frozen and you cant get any out or anything?
foryourinfo

Polkville, NC

#7 Sep 17, 2009
Burke county flash wrote:
Thats what I heard today. Also heard their had already been a lot of withdrawals
The info I gave you is not on Bank of Granite site. Go to charlotteobserver.com /business. The info was posted Sept.5 09. The info is still there, or type in search bar, Bank of Granite in trouble (sounds stupid but it takes you there. Sorry.
Whatever

United States

#8 Sep 17, 2009
bailjumper, you must be an idiot. the FDIC insurance covers up to 250K of your money. Stop starting rumors and get a life
foryourinfo

Polkville, NC

#9 Sep 17, 2009
Whatever wrote:
bailjumper, you must be an idiot. the FDIC insurance covers up to 250K of your money. Stop starting rumors and get a life
The FDIC may ? insure an account to 500grand if its a joint account. It did when the max per account was 100,000.
foryourinfo

Polkville, NC

#10 Sep 17, 2009
Sorry, I meant to say 200,000 when FDIC insured to 100,000. If it was a joint account
bailjumper

Four Oaks, NC

#11 Sep 17, 2009
That is what I heard fool and I am asking who else heard it.
bailjumper

Four Oaks, NC

#12 Sep 17, 2009
Never said I believed it.
ShortStuff

Black Mountain, NC

#13 Sep 18, 2009
The whole deal is not if people will be covered or not, that is not the question. It normally takes 24 to 48 hours and then funds will be opened back up, but my first question was if it was going to happen.
It now looks like an Ohio bank or Trust is in place to take over.
ShortStuff

Black Mountain, NC

#14 Sep 18, 2009
Anyone heard any news today?
nale22

Newland, NC

#15 Sep 18, 2009
i bank at thte bank of granite in hudson i call them today and they said it was a rumer going around
acc

Shelby, NC

#16 Sep 19, 2009
i called granite bank, said same thing??
Happy

Black Mountain, NC

#17 Sep 19, 2009
acc wrote:
i called granite bank, said same thing??
What did you expect them to say, they are the ones that will be losing their job.
No Dog in the Fight

United States

#18 Sep 20, 2009
http://www.charlotteobserver.com/breaking/sto...

Link to the story dated Sept. 4th, 2009. "cease and desist" order because of all the bad loans they have handed out and people aren't paying back.
FDIC Frank Expert

United States

#19 Sep 25, 2009
Stop the rumors!!! FDIC rules are not that hard to understand unless you did not go to school.
You can review a great FDIC UPDATED video on their website. " www.fdic.gov " and click 2ND TAB, DEPOSIT INSURANCE, then click ARE MY DEPOSITS INSURED. Then scroll down to FDIC VIDEOS DEPOSIT INSURANCE COVERAGE. Then click on FULL VIDEO. Spanish version is available as well next to that. While a bank has a cease and desist order in place, which means it has to raise more capital to get its ration in line, it could mean the next step upon failure to do that is to be assume by the FDIC BUT depositors under the coverage rules are protected. Watch the video for the explanation. Any other discussion is SPECULATION and Irrelevant not to mention NONSENSE<
FDIC Frank Expert

United States

#20 Sep 25, 2009
I am a Registered Investment Advisor

ALSO, a NEW UNPDATED FDIC coverage CONSUMER brochure is available on the same site. This ia an important must read.

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