Item 5.02 - Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers On July 6, 2009, Kirby A. Tyndall provided notice of his resignation from his position as Executive Vice President, Secretary, Treasurer, and Chief Financial Officer of Bank of Granite Corporation and its subsidiaries (the "Company") effective July 31, 2009. Mr. Tyndall's resignation does not impact or in any way relate to the financial statements or reporting of the Company. The Company's board of directors took action on July 7, 2009 to appoint Jerry A. Felts, the Company's Chief Operating Officer since July 2008, to serve in the additional capacity of Chief Financial Officer effective July 31, 2009. Mr. Felts, age 69, is a retired Ernst & Young financial services audit partner. Prior to his appointment as Chief Operating Officer, Mr. Felts served Bank of Granite as Independent Contractor/Advisor with respect to loan operations and accounting matters and internal control matters, beginning in November 2007. Mr. Felts was an independent contractor providing consulting services and advice on internal audit matters from 2001 to 2007. Mr. Felts will continue to serve the Company pursuant to his current agreement with the Company, as set forth in Exhibit 10.1 to the Company's quarterly report on Form 10-Q filed August 8, 2008.

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