-Team of Highly Experienced Lending Professionals Joins Bank
-Enhances Baltimore Presence Following Launch of Shore Premier Finance
VIRGINIA BEACH, Va., July 21, 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 launch of a new Loan Production Office (LPO) in Baltimore, MD, with a focus on commercial real estate and commercial & industrial lending relationships. The new office builds on the successful May 2014 launch of Shore Premier Finance, a Baltimore-based specialty consumer finance unit of Shore that focuses on marine financing.
The LPO team will consist of highly experienced lending professionals who joined Shore from Northwest Savings Bank in Baltimore and have more than 125 years of combined banking experience. The team will be led by Richard J. Hunt, Jr., President-Greater Baltimore Market, and will also include Senior Vice President for Commercial Real Estate Michael G. Tilstra, and Senior Vice Presidents and Client Relationship Managers Keith M. Dukes and Ann-Marie P. Monroe.
Douglas J. Glenn, President and Chief Executive Officer of the Company and Chief Executive Officer of BHR, said, "The opening of our Baltimore LPO marks an important strategic step for Hampton Roads Bankshares and Shore Bank, as we build on our recent successful launch of Shore Premier Finance to expand and broaden our presence in an attractive contiguous market. With the addition of Rich and his outstanding team of relationship managers, we now have significant capabilities as a small and middle-market C&I lender in the Baltimore metropolitan area, led by proven bankers with deep roots and decades of local experience. This combination of strong bankers, deep market knowledge and outstanding service is working well in our existing markets and we are excited about the opportunities it will bring us in this attractive new market."
Hunt, who has 25 years of commercial and retail banking experience, has worked at Northwest Savings Bank since 2011, serving most recently as Maryland Region President and Commercial Regional Lending Manager, and his previous work includes serving as Senior Vice President, Business Banking at Provident Bank. He currently serves on the boards of the Stevenson University President's Advisory Council and GCA Foundation, and prior board service includes the Emerging Business Council-Greater Baltimore Committee. Hunt received a Bachelor of Arts degree in Business Administration from Loyola College and a graduate degree from the Stonier School of Banking at the University of Pennsylvania.
Tilstra, who has 30 years of commercial real estate and C&I lending experience, served as Vice President of Commercial Lending at Northwest Savings Bank since 2011. His prior experience includes positions at Carrollton Bank, SunTrust Bank, and Wachovia Bank (including predecessors). He received Bachelor's and Master's degrees from the University of Maryland and he completed the Commercial Banking Training Program at Maryland National Bank.
Dukes, who has over 40 years of banking experience, served most recently as Vice President of Commercial Lending at Northwest Savings Bank. His previous experience includes positions at Carrollton Bank and K Bank. He received a Bachelor of Arts degree in Business Administration and Accounting from Franklin and Marshall College, and he graduated from the Maryland Banking School at the University of Maryland and the Consumer Bankers Association Graduate Banking School at the University of Virginia.
Monroe, who has almost 30 years of banking experience, served most recently as Vice President of Commercial Lending at Northwest Savings Bank. Her experience also includes positions at Provident Bank/M&T Bank, and 1st Mariner Bank. She received a Bachelor's degree in Fine Art – Visual Communications from Towson State University, and her professional and civic memberships include CREW (Commercial Real Estate Women) Baltimore and the Baltimore County Chamber of Commerce.
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 anticipated performance of the Company's personnel and future trends, capabilities, and strategies. 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 eight banking offices, ATMs, and loan production offices in Baltimore and 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