Bank of Granite falls 8% after swinging to Q2 loss
Bank of Granite Corporation (Nasdaq:GRAN) is down 8% today after reporting after Friday’s close it had slipped to a second-quarter loss. For the quarter ended June 30, net loss was $3.36 million, or $0.22 per share, compared to net income of $0.74 million, or $0.05 per share, for the same period a year ago. The net loss resulted from decreases in interest and fee income from loans, the Granite Falls, N.C.-based bank said.
In today’s trading, shares are at $7.61 at 11:33 a.m. ET, down $0.64 from Friday’s close. Trading volume is about 5,000 shares below the average number.
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