Vitals
  • Total Assets
    1.0B -19.3 %
  • Total Deposits
    713.6M -11.5 %
  • Total Net Loans
    501.1M -21.2 %
  • Net Income
    2.6M 212.0 %
  • Book Value
    242.4M 1.5 %
  • Book Value x2
    484.8M 1.5 %
  • Book Value x3
    727.3M 1.5 %
ROAA

1.002

ROAE

4.263

Efficiency Ratio

59.78

Net Interest Margin

3.685

Balance Sheet Highlights
Financial Highlights Granite Bank All Insured Commercial Banks in New Hampshire
Balance Sheet $(000)
Total Assets 1,038,474 270,588
Total Net Loans 501,069 170,013
Total Deposits 713,603 210,582
Total Equity 242,419 36,108
Profitability
Net Income 2,593 605
Return on Average Assets 1.002 .788
Return on Average Equity 4.263 7.834
Net Interest Margin 3.685 3.833
Efficiency Ratio 59.78 70.434
Noninterest Income/Revenue 22.439 12.316
Balance Sheet Ratios
Loan-to-Deposit 70.217 74.629
Securities/Assets .284 .298
Total Equity/Total Assets .233 .133
Tangible Equity/Tangible Assets .063 -.136
Capital Adequacy
Tier 1 Common Capital — —
Tier 1 Capital 64,726 21,055
Tier 2 Capital 7,398 2,131
Total Capital 72,124 23,022
Total Risk Weighted Assets 591,577 177,543
Leverage Ratio 7.53 15.398
Common Equity Tier 1 Capital Ratio — —
Tier 1 Capital Ratio 10.94 49.64
Total Capital Ratio 12.19 50.631

Timeline for Granite Bank

Ocean Bank

Granite Bank was acquired by Ocean Bank 20 years

View Profile May 29 2004

Chittenden Corporation

Chittenden Corporation became a new parent organization for Granite Bank.

View Profile Feb 28 2003

Gsbi Insurance Group, Inc.

Gsbi Insurance Group, Inc. became a new subsidiary organization for Granite Bank.

View Profile Apr 01 2002

Sise Financial Services

Sise Financial Services became a new subsidiary organization for Granite Bank.

View Profile Apr 01 2002

Sise Insurance

Sise Insurance became a new subsidiary organization for Granite Bank.

View Profile Apr 01 2002

Want to see more?

Complete timeline for Granite Bank is available.

View Complete Timeline
Acquisitions & Mergers Role Assets Acct Method Type Transaction Date
Ocean Bank Buyer 2,208,891 Pooling of Interests Discontinued 5/29/2004
Primary Bank Seller 389,933 Pooling of Interests Discontinued 11/1/1997
Durham Trust Company Seller 71,024 Failure 11/16/1991
First Northern Co-Operative Bank, A Federal Savings Bank Seller 88,987 Failure 8/3/1991
Granite Bank, National Association Seller 73,106 Discontinued 4/1/1990
Relationships Role Relationship Start Relationship End
Chittenden Corporation Parent 2/28/2003 5/28/2004
Granite State Bankshares, Inc. Parent 8/19/1986 2/27/2003
Granite Holdings, Inc. Subsidary 1/12/1995 5/28/2004
Gsbi Insurance Group, Inc. Subsidary 4/1/2002 5/27/2004
Independence Trust Company Subsidary 10/31/1997 8/31/2002
Sise Financial Services Subsidary 4/1/2002 4/1/2002
Sise Insurance Subsidary 4/1/2002 4/1/2002
Keene Meadows Corp. Subsidary 5/3/1995 8/31/2001
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