Hi, Mr. Sink,

I thought I posted a reply, but it's not here. So here goes again.

It takes several years to bring a new branch to profitability. Granite's branches have some intangible value.

It's to the advantage of Granite to broker a sell before FDIC steps in. That will also benefit the current CEO.

The 2Q numbers clearly shown further losses.
It's "interest income, plus non-interest income, less non-interest expense" got below 0.5% of asset two quarters back to back. In other words, there is scant money coming in to cushion the on-going losses. It's reserve was way too low to begin with. Then total past due was still very high.

On it's own, the bank could either sell out or dilute the heck of the current shareholders. IMO It's too far gone to raise equity.

Good night,
Sam