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Hampton Roads Bankshares Appoints Charles Johnston To Board Of Directors

NORFOLK, Va., Sept. 24, 2012 (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 it has expanded its Board of Directors and appointed Charles M. Johnston to the Board. Johnston has over three decades of experience in finance and banking, including over 15 years in senior management positions with community banking institutions.

Henry P. Custis, Jr., Chairman of the Board of the Company, said, "We are very pleased to welcome Chuck to the Board of Hampton Roads Bankshares. He brings deep roots and a proven track record in community banking, and we are confident that the Company will benefit greatly from his experience and independent perspective. Chuck's appointment to the Board represents another step in advancing the Company's long-term strategy of being the most meaningful community bank in the mid-Atlantic region."

Johnston served as Chief Financial Officer of Eastern Bank Corporation, an $8 billion bank holding company headquartered in Boston, from 2003 until his retirement in March, 2012. He was Chief Financial Officer of Commonwealth Bancorp, a $2 billion bank holding company headquartered in Philadelphia, from 1996 until its sale to Citizens Financial Group in 2003. From 1994 to 1996, he was Chief Financial Officer of TFC Enterprises, an auto finance company headquartered in Norfolk, Virginia. Previously, he served in Treasury, Financial Planning and Investor Relations roles at Mellon Bank Corporation and Treasury, Accounting and Internal Audit roles at United States Steel Corporation. 

Johnston, a native of Pittsburgh, earned a BS in Commerce at the University of Virginia and an MBA from Duquesne University. He and his wife Jan reside in Williamsburg, Virginia.

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 prospective statements about new Company directors.  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, 2011, Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 and other filings made with the SEC.

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