Item 5.02 - Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers On October 30, 2009, Bank of Granite (the "Bank"), the principal subsidiary of Bank of Granite Corporation, amended its Salary Continuation Plan, effective November 1, 2009. The amendment provides that no additional benefits will accrue under the plan after October 31, 2009. Participants' vested benefits accrued as of October 31, 2009 will be frozen, and no new members will enter the plan after October 31, 2009. After October 31, 2009, no changes in a participant's compensation from the Bank or additional service with the Bank will affect the calculation of the participant's benefits under the plan. Participants will not earn additional vesting service under the plan for service performed with the Bank after October 31, 2009. After October 31, 2009, the benefits paid under the plan in the event of (i) a separation from service within 2 years following a change in control, or (ii) death while actively employed by the Bank on a full-time basis, will be determined, calculated and paid in the same manner as early termination of service benefits, except that a payment made on account of death will commence 60 days following a separation from service. The full text of the amendment is filed herewith as Exhibit 10.1 to this current report. Item 9.01 - Financial Statements and Exhibits
(d) Exhibits

Exhibit No. Description 10.1 Amendment to Bank of Granite Salary Continuation Plan dated October 30, 2009

---

Table of Contents

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

November 5, 2009 By: /s/ Jerry A. Felts Jerry A. Felts Chief Operating Officer and Chief Financial Officer