Hampton Roads Bankshares Inc. (HMPR)

[Enterprising Investor]

Hampton Roads Bankshares and Bank of Hampton Roads Announce Termination of Memorandum of Understanding With the Federal Reserve Bank of Richmond and Virginia Bureau of Financial Institutions (2/10/15)

VIRGINIA BEACH, Va., Feb. 10, 2015 (GLOBE NEWSWIRE) -- Hampton Roads Bankshares, Inc. (Nasdaq:HMPR) (the "Company"), the holding company for The Bank of Hampton Roads ("BHR") and Shore Bank ("Shore"), today announced that on February 5, 2015, the Federal Reserve Bank of Richmond ("FRB") and the Virginia Bureau of Financial Institutions ("BFI") terminated a Memorandum of Understanding ("MOU") entered into on March 26, 2014, among the Company, BHR, FRB and the BFI. The Company and BHR are no longer subject to the terms and conditions of the MOU or any other formal supervisory actions, restrictions or requirements. Shore was not a party to the MOU.

Douglas J. Glenn, President and Chief Executive Officer of the Company and Chief Executive Officer of BHR, said, "We work every day to ensure that we are building the foundations of an exceptional company, not only for now but for the future. Navigating through our regulatory concerns has been a long and sometimes humbling journey but the resulting improvements in our financial condition and operations have made us much stronger as we move forward to achieve our vision of Making Dreams Come True!"

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. HRB's primary subsidiaries are BHR, which opened for business in 1987, and Shore, 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, BHR operates banking offices in Virginia and North Carolina doing business as The Bank of Hampton Roads and Gateway Bank & Trust Co. Shore serves the Eastern Shore of Virginia, eastern Maryland, and southern Delaware through eight banking offices, ATMs, and loan production offices in Baltimore, Maryland and Rehoboth Beach, Delaware. Through various affiliates, the Banks also offer mortgage banking services. Shares of the HRB's common stock are traded on the NASDAQ Global Select Market under the symbol "HMPR." Additional information about HRB and its subsidiaries can be found at www.hamptonroadsbanksharesinc.com.

http://www.marketwatch.com/story/hampton-roads-bankshares-and-bank-of-hampton-roads-announce-termination-of-memorandum-of-understanding-with-the-federal-reserve-bank-of-richmond-and-virginia-bureau-of-financial-institutions-2015-02-10