VIRGINIA BEACH, Va., May 6, 2014 (GLOBE NEWSWIRE) -- Hampton Roads Bankshares, Inc. (Nasdaq:HMPR) (the "Company"), the holding company for The Bank of Hampton Roads ("BHR") and Shore Bank ("Shore"), today announced the opening of its Small Business Center, an innovative approach to underwriting small business loans that utilizes technology to streamline the borrowing process and allow the Company's bankers to spend less time on credit administration and more time engaged with customers to offer more choices and better service.
Douglas J. Glenn, President and Chief Executive Officer of the Company and Chief Executive Officer of BHR, said, "One of the key components of our One Bank strategy is simplifying everything from products to processes to ensure a singular focus on meeting the needs of our customers. We have a team of experienced bankers who listen to and understand our customers' needs and our Small Business Center allows those bankers to be more effective and efficient in helping our customers achieve their financial dreams. For our small business customers, our Small Business Center helps make their business our branch, providing efficient access to credit and helping us to deliver an exceptional community bank experience."
Following the opening of the Small Business Center, business clients of BHR and Shore will continue to interact with their regular Commercial Relationship Manager, who will coordinate closely with the Small Business Center to ensure that it has the information it needs about the client's business to make underwriting decisions regarding new loans, renewals and related matters.
Caution About Forward-Looking Statements
Certain statements made in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts, including statements about future trends and strategies. Although the Company believes that its expectations with respect to such forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual events or results to differ significantly from those described in the forward-looking statements include, but are not limited to those described in the cautionary language included under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, and other filings made with the SEC.
About Hampton Roads Bankshares
Hampton Roads Bankshares, Inc. is a bank holding company that was formed in 2001 and is headquartered in Virginia Beach, Virginia. The Company's primary subsidiaries are The Bank of Hampton Roads, which opened for business in 1987, and Shore Bank, which opened in 1961 (the "Banks"). The Banks engage in general community and commercial banking business, targeting the needs of individuals and small to medium-sized businesses. Currently, The Bank of Hampton Roads operates banking offices in Virginia and North Carolina doing business as The Bank of Hampton Roads and Gateway Bank & Trust Co. Shore Bank serves the Eastern Shore of Virginia, eastern Maryland, and southern Delaware through seven banking offices, ATMs, and loan production offices in West Ocean City, Maryland and Rehoboth Beach, Delaware. Through various affiliates, the Banks also offer mortgage banking services and investment products. Shares of the Company's common stock are traded on the NASDAQ Global Select Market under the symbol "HMPR." Additional information about the Company and its subsidiaries can be found at www.hamptonroadsbanksharesinc.com.
CONTACT: Douglas J. Glenn President and Chief Executive Officer (757) 217-1000Source:Hampton Roads Bankshares, Inc.