Hampton Roads Bankshares Announces New Mobile and Online Banking Products to Enhance Customer Experience

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| Source: Hampton Roads Bankshares, Inc.

VIRGINIA BEACH, Va., May 14, 2014 (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 the introduction of several key product and technology advancements designed to meet growing demand for mobile and online banking alternatives and enhance the individual and business customer experience.

With services such as Mobile Banking and Mobile Deposit, customers can deposit checks or access account information remotely, either by texting, using a browser, or through an app they can download at no cost. Also, with Online Account Opening, customers can open checking, savings or other accounts conveniently from a desktop or mobile device, and the Popmoney personal payment service allows individuals to send and receive money safely and quickly. Seven new automated deposit ATMs allow customers to make deposits quickly and easily, with no envelope and no deposit slip. The Company plans to make this service available at additional ATMs in the coming months.

Douglas J. Glenn, President and Chief Executive Officer of the Company and Chief Executive Officer of BHR, said, "Our goal is to be the leading community bank in the communities we serve, using a combination of personal service and technology to offer our customers convenience, security and innovation. Our customers increasingly seek mobile, online and paperless banking options and our 'One Bank' strategy is focused on enabling customers to bank with us whenever and wherever they want."

The Company's new products include:

  • Online Account Opening. Open personal checking, money market, savings accounts or CDs online.
     
  • Automated Deposit ATMs. Allow customers to make cash and check deposits, including up to 30 checks and 50 bills, with no envelope and no deposit slip at seven specific ATMs with this new enhancement. The ATM does the math and the customer gets instant deposit verification and receives a receipt showing the actual check images.

  • At-Work Banking. Work Perks is an exclusive package of banking products and services built for business clients to extend to their employees, at no charge to the business. This program offers specialized products for all employees' personal banking needs.

  • Customized Debit Cards. Personal checking customers can design a unique Debit Card with images that reflect what is important to them, making a statement with an image that covers most of the card or using a smaller personal photo in the top left corner.

  • Mobile Deposit. Available to anyone enrolled in personal Online Banking, Mobile Deposit allows customers to safely deposit checks by photographing them and depositing them directly into their account via an app that is available for iPhone® and Android™.

  • Mobile Banking. Available to anyone enrolled in personal Online Banking, Mobile Banking allows customers to safely transfer money between accounts, pay bills and check account balances and activity, via texting, a browser or a downloadable app. 

  • Popmoney. This innovative money movement service allows individuals to send and receive money through Online Banking, making the transfer of money as easy as sending an email or a text message, all without ever exchanging personal financial information.

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 statements about the Company's strategies and the expected performance of its banking products. 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, 2013, Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, 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 Virginia, eastern Maryland, and southern Delaware through seven banking offices, ATMs, and loan production offices in West Ocean City, Maryland and Rehoboth Beach, Delaware. 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.

Douglas J. Glenn
President and Chief Executive Officer
(757) 217-1000