VIRGINIA BEACH, Va., May 16, 2013 (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 Charles M. Johnston, age 57, has been appointed Chairman of the Company's Board of Directors. He succeeds Henry P. Custis, Jr., who will remain a member of the Board and will serve as Chairman Emeritus.
Custis said, "With the Company having overcome significant challenges over the past five years and having returned to profitability, I believe this is the appropriate time for me to pass the baton to a new Chairman. While there is still work to do, I have great confidence in Chuck and in the management team and believe the Company has a bright future."
Johnston said, "I was excited about joining the Board of Hampton Roads Bankshares last year because I believed the Company had a great franchise, a strong management team and a comprehensive plan to return to profitability and ultimately, growth. Since then, the Company has made steady and significant progress and I am committed to working with the management team to sustain and build on that progress going forward."Douglas J. Glenn, President and Chief Executive Officer of the Company and Chief Executive Officer of BHR, said, "On behalf of the Company and its shareholders, I want to commend Henry for his unwavering commitment and sound judgment over the past several years. We are very pleased that the Company will continue to benefit from his guidance going forward in his role as Chairman Emeritus." Glenn added, "With a highly successful career in finance and banking, Chuck brings a wealth of experience and perspective to the role of Chairman and we look forward to continuing to work with him to develop the full potential of the Company's franchise."
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