Common use of Common Control Clause in Contracts

Common Control. The Company is not under the control (as defined in the Bank Holding Company Act (“BHCA”) and Regulation Y of the Federal Reserve (12 CFR Part 225)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company does not control, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution other than Granite Bank. The Company is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).