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F. Scot McAlexander Joins Bank of Hampton Roads as Raleigh Market President

VIRGINIA BEACH, Va., Sept. 22, 2014 (GLOBE NEWSWIRE) -- Hampton Roads Bankshares, Inc. (Nasdaq:HMPR) (the "Company"), the holding company for The Bank of Hampton Roads ("BHR") and Shore Bank, today announced that F. Scot McAlexander has joined BHR as Raleigh Market President. BHR does business in Raleigh under the "Gateway Bank" brand and the Company's mortgage subsidiary, Gateway Bank Mortgage, is also headquartered at BHR's Lake Boone location.

McAlexander will report to Don Price, Senior Lending Officer, and joins Financial Center Manager Katie Sessoms and Assistant Financial Center Manager and Small Business Representative Jose Fuentes in the Lake Boone Financial Center. In this position, McAlexander is responsible for all aspects of commercial banking business growth and development in the Raleigh market.

Douglas J. Glenn, President and CEO of Hampton Roads Bankshares, said, "Scot is a great addition to our already strong retail and mortgage banking teams in Raleigh, and his leadership will further renew our commitment to this market. He brings nearly 15 years of banking experience and well over two decades of civic and community engagement in North Carolina and Virginia. This gives him a strong understanding of the needs of our customers, makes him a great fit with our culture, and represents another step in the execution of our One Bank strategy that we announced last year."

McAlexander most recently worked at SunTrust Bank in Raleigh since 2008, serving as First Vice President, Commercial Banking Relationship Manager. Previously, he was Vice President, Community Banker, at Regions Bank in Raleigh, and spent seven years at BB&T, where he held a variety of positions, including City Executive and Business Services Officer.

McAlexander received a Bachelor of Science degree in Social Science from Radford University in Virginia, and a Masters of Business Administration from the Pamplin School of Business at Virginia Polytechnic Institute and State University. He is actively involved in a number of local community organizations, including serving as a member of the Wake Education Partnership and the Greater Raleigh Chamber of Commerce, and serving on the Board of Directors of the Boys and Girls Club of Wake County and the Board of Advisors of the North Carolina New Schools.

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 the anticipated performance of the Company's personnel and 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 June 30, 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 eight 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. 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.