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Hampton Roads Bankshares Announces CFO Transition



Hampton Roads Bankshares Announces CFO Transition

VIRGINIA BEACH, Va., Feb. 28, 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 Stephen P.
Theobald, Executive Vice President and Chief Financial Officer, will be
leaving the Company on March 31, 2013 to accept a CFO position with another
financial services firm. The Company will conduct a search for a successor.   

Douglas J. Glenn, President and Chief Executive Officer of the Company and
Chief Executive Officer of BHR, said, "Steve has done an outstanding job of
leading and enhancing our Finance function and has played an important role in
the execution of our plan to strengthen our balance sheet, improve operating
efficiency and profitability, and become the premier community bank in our
region. We will miss Steve and will act expeditiously to appoint a successor
of his caliber." 

Glenn added, "As demonstrated by our press release on January 30, 2013, we
made substantial progress on many fronts in 2012. I am confident that we can
sustain this progress in 2013 and beyond."  

Theobald said, "Working with the team at Hampton Roads Bankshares has been a
great experience. I am particularly proud of the progress we have made over
the last three years toward returning the Company to profitability and I leave
with confidence that the progress will continue. While I was not seeking
employment outside the Company, I was recruited for an attractive position
that not only fits with my professional goals, but is also a welcomed
opportunity to work closer to my home and family in the Washington D.C.
metropolitan area."

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
continued progress and future profitability. 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 September 30, 2012 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 Maryland and Virginia through seven banking
offices, ATMs and a recently opened loan production office in West Ocean City,
Maryland. Through various affiliates, the Banks also offer mortgage banking
services and investment products. 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: Stephen P. Theobald
         Executive Vice President and Chief Financial Officer
         (757) 217-1000
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