Shore Bank Names W. Thomas Mears President And CEO

NORFOLK, Va., Dec. 15, 2010 (GLOBE NEWSWIRE) -- Hampton Roads Bankshares, Inc. (Nasdaq:HMPR) (the "Company"), the holding company for Bank of Hampton Roads and Shore Bank, today announced that Shore Bank has named W. Thomas Mears President and Chief Executive Officer. Mears brings over 20 years of banking experience in markets on the Eastern Shore of Maryland and surrounding areas. He joins Shore Bank from Wilmington Trust, where he was Market Manager – Lower Delaware and Eastern Shore of Maryland. Mears succeeds Steven M. Belote, who will assist with the transition and then assume another position with the Company to be determined following the completion of the transition.

Prior to Wilmington Trust, Mears served in positions of increasing responsibility with Peninsula Bank, an affiliate of Mercantile Bankshares Corp., from 1989 to 2006, then served as Regional President/Market Executive for PNC after its acquisition of Mercantile Bankshares Corp.   

John A. B. "Andy" Davies, Jr., the Company's President and Chief Executive Officer, said, "We are very pleased to welcome Tom to our team. He is a seasoned banking leader with two decades of experience in the region and outstanding credit skills."   

Richard F. Hall, III, Chairman of the Board of Directors of Shore Bank, said, "In addition to being a very strong banking executive, Tom has deep roots in the region and understands the needs of families and businesses in our communities."  

"Shore Bank is indeed fortunate that Tom is coming on board," said Furlong Baldwin, former Chairman of Mercantile Bankshares Corp. "He is an Accomac native who has spent his entire career on the Lower Maryland Shore and the Eastern Shore of Virginia.  Businesses in this area will respond well to a strong commercial lender like Tom, making decisions locally."

Buddy Jenkins, Chairman of the Board of Bayshore Development Corporation, said, "I have known Tom since he started his banking career and I consider him to be one of the most qualified young bankers in his field.  I am confident that he will do a superb job in his new undertaking." 

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