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I just recently purchased shares in GRAN. I have kept an eye on the Bank of Granite stock for a bit over a year. With the recent surge in various blue-chips, finding some bargains has been a little harder than normal. But, I purchased GRAN shares under $16. Bank of Granite is a regional bank that operates several branches in North Carolina.

GRAN has a solid dividend (3.3%) and its P/E ratio isn’t scary (14.43). I purchased it around $15.90, which is definitely towards the lower end of its 52-week price range. In this Q&A,they say that at one point Warren Buffet called GRAN the best run bank in the country - gotta be doing something right to get some props from Buffet. I think I got it at a decent price, there is a bit of jitters with various banks (from all the sub-par lending news) but we will see if GRAN works out or not over time. With the 3.3% dividend, I can handle some price fluctuation, so I will probably hold on to it for a while.