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Hampton Roads Bankshares Announces Consolidation of Seven Bank Branch Locations Into Nearby Branches



Hampton Roads Bankshares Announces Consolidation of Seven Bank Branch
Locations Into Nearby Branches

Consolidations Support Company's Long Term Strategy

VIRGINIA BEACH, Va., March 27, 2013 (GLOBE NEWSWIRE) -- Hampton Roads
Bankshares, Inc. (Nasdaq:HMPR) (the "Company"), the holding company for The
Bank of Hampton Roads and Shore Bank, announced today the consolidation of
seven The Bank of Hampton Roads and Shore Bank branch locations into nearby
branches. These branch consolidations are one component of the Company's long
term strategic plan, known as "One Bank", which forms the blueprint for the
Company's future success. The strategic framework of "One Bank" provides for
the optimal combination of branches and online/mobile banking technologies,
supported by highly experienced bankers, to offer customers convenience and
high service levels while maintaining an efficient, competitive cost
structure. After consolidation, the Company will continue to operate 33 full
service strategic branch locations along with a full suite of the latest
technologies including online, mobile and remote banking products and
services. The Company continues to invest in its electronic banking
technologies, most recently announcing the roll out of its mobile banking
platform as a complement to its branch network, online banking and remote
deposit capture capabilities.

Douglas J. Glenn, the Company's President and Chief Executive Officer, said,
"We continue to drive our strategy to best serve our customers' evolving
banking needs and expectations, with investments in online and mobile banking
to complement our branch network, along with the addition of talented bankers
and continued efforts to enhance our operating efficiency. Our goal is to
deliver the right mix of full-service branch locations and online and mobile
banking capabilities, supported by the best bankers, to allow our customers to
bank with us when, where and how they choose."

As a result of these consolidations, the Company expects to achieve
significant operating expense savings, which the Company believes will begin
to be realized in the third quarter of 2013. The Company expects to record a
charge in the first quarter of 2013 reflecting expenses related to these
branch consolidations.

The seven branches span the Company's market area, with one in Richmond, two
in Northeast North Carolina, three in the Hampton Roads area and one on the
Eastern Shore. The Company will be notifying each customer of the impacted
branches to provide information on the expected closing date, and the location
to which each branch's bank accounts and services will be
transferred. Closings are expected to occur in June and July. The accounts and
services in each closed branch will be transferred to a nearby branch,
minimizing the impact on customers. 

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 the
nature and timing of the consolidation of branches, the Company's ability to
realize expense savings from the consolidation of branches and the Company's
ability to successfully execute its long term strategic plan.  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, 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 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: Douglas J. Glenn
         President and Chief Executive Officer
         (757) 217-1000
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