Gregg Smith Joins Hampton Roads Bankshares as Commercial Relationship Manager

VIRGINIA BEACH, Va., May 27, 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 that Gregg Smith will join BHR as a Commercial Relationship Manager starting on May 27, 2014. In this role, Smith will be responsible for managing banking relationships with commercial and industrial clients, and handling commercial and residential real estate loans, including construction. He will be based in BHR's Ghent office, which is located at 539 W. 21st Street in Norfolk, VA.

W. Thomas Mears, President and Chief Executive Officer of Shore and President of Commercial Banking of BHR, said, "We are very excited to have Gregg join our team. His career spans nearly three decades of banking experience in Norfolk, and he has been recognized as one of the top loan and deposit producers in the region. Our 'One Bank' strategy is built on a foundation of experienced bankers with strong community ties, and Gregg's deep understanding of our market and the needs of our customers will be a tremendous asset."

Before joining the Company, Smith worked at Branch Banking & Trust (BB&T) in Norfolk from September 2002 to April 2014, serving most recently as Vice President of Business Banking. Prior to that, Smith held the position of Senior Vice President of Commercial Loans at CENIT Bank and Senior Vice President at Central Fidelity Bank / Wachovia Bank. He earned an MBA in Finance from the University of Scranton, and a BA in Statistics, Economics, Urban and Regional Analysis from the University of Buffalo.

Smith serves on the board of several professional and civic organizations, including the Tidewater Business Financing Corporation, Tidewater Children's Foundation, and Chesapeake Community of Hope.

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, Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, 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.