Item 8.01. Other Events
The Company issued a press release on March 13, 2009, a copy of which is attached hereto as Exhibit 99.1, regarding its financial results for the quarter and year ended December 31, 2008, previously released on January 30, 2009 and included in a Current Report on Form 8-K filed on the same date. In connection with the completion of the preparation, review and audit of its financial statements, the Company has concluded that it expects to record additional charges of approximately $26 million to its operating results that will increase the losses it reported on January 30, 2009 for the quarter and year ended December 31, 2008. The Company initially reported a preliminary net loss for the fourth quarter of $9.58 million, or $0.62 per share on January 30, 2009. For the full-year ended December 31, 2008, the Company originally reported a preliminary net loss of $11.50 million, or $0.74 per share. The final results of goodwill impairment testing indicated that the estimated fair value of the banking franchise was less than its book value, which the Company estimates will require a noncash charge of approximately $11 million. The evaluation of the Company's ability to realize previously recorded deferred tax assets, while ongoing, is estimated to result in a charge of approximately $13 million. Securities mark-to-market adjustments on certain investments and certain other accounting adjustments are expected to result in $2 million in additional charges. The Company projects that it will remain adequately capitalized. The Company believes these revisions only relate to its fourth quarter and annual results for 2008 and are not expected to affect any financial statements it previously filed with the Securities and Exchange Commission for any period, and therefore, those previous reports may continue to be relied upon as filed. Item 9.01 - Financial Statements and Exhibits
(d) Exhibits
EXHIBIT INDEX

Exhibit Number Exhibit
99.1 Press Release issued March 13, 2009

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Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Bank of Granite Corporation

March 13, 2009 By: /s/ Kirby A. Tyndall Kirby A. Tyndall Secretary, Treasurer and Chief Financial Officer