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07/14/09
Hampton Roads Bankshares Names New CEO

Norfolk, VA - Hampton Roads Bankshares, Inc. (NASDAQ: HMPR), the holding company for Bank of Hampton Roads and Shore Bank, is pleased to announce that the Board of Directors has named John A. B. "Andy" Davies as the Company's new President and Chief Executive Officer. Davies will also serve as the Chief Executive Officer of Bank of Hampton Roads and be elected as a member of the Board of the Directors of the Company and the Bank.

Herman A. Hall, III, Vice Chairman of the Board and Chairman of the CEO Search Committee, commented, "The CEO Search Committee conducted an extensive though condensed search and during that process, identified several excellent candidates to lead our organization. I am very pleased to report that we selected the best possible candidate, Andy Davies."

"It's a distinct privilege to have this unique and unexpected opportunity to join the Hampton Roads Bankshares team. I plan to draw upon my past experiences as both a bank CEO in the Hampton Roads market, and more recently as a consultant working with financial institutions throughout the Southeast, to lead our company forward. The Hampton Roads Bankshares team is extraordinarily talented and the company is positioned to become the premier financial services organization in some of the most vibrant markets in Virginia, North Carolina and Maryland," stated Davies.

Davies began his banking career in 1974 in Norfolk with the former Virginia National Bank and worked with predecessor banks to Bank of America and Wells Fargo. In 1991, he was named President and CEO of Virginia Beach Federal Financial Corporation, which became First Coastal Bankshares. First Coastal merged with Centura Bank in 1999, and from 1999 until 2004, Davies served as President of Centura's Virginia Market and as Chairman of its Virginia Board. In 2004, Davies left RBC Centura to form The Marathon Organization, Ltd., a management consulting company providing strategic planning services to banks throughout the Southeast.

Davies is a graduate of the College of William and Mary and the Stonier Graduate School of Banking. He has been actively engaged with numerous civic, cultural and educational organizations in Hampton Roads, including holding the role of board chairman with ACCESS College Foundation, WHRO Foundation, United Way of South Hampton Roads and Junior Achievement of Greater Hampton Roads.

Hampton Roads Bankshares, Inc. is a $3 billion financial holding company that was formed in 2001 and is headquartered in Norfolk, Virginia. The Company's primary subsidiaries are Bank of Hampton Roads, which opened for business in 1987, and Shore Bank, which opened in 1961.. Currently, Bank of Hampton Roads operates thirty banking offices in the Hampton Roads region of southeastern Virginia and twenty-four offices in Virginia and North Carolina doing business as Gateway Bank & Trust Co. Shore Bank serves the Eastern Shore of Maryland and Virginia through eight banking offices and fifteen ATMs. Through various affiliates, the Banks also offer mortgage banking services, insurance, title insurance and investment products. Additional information about the Company and its subsidiaries can be found at www.hamptonroadsbanksharesinc.com.

“Kaplan & Associates did an outstanding job in both positioning my experience and in aligning my personal goals with the right opportunity. In the final outcome, K&A found a position that was finely tuned to my personal and professional objectives.”

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