Hampton Roads Bankshares Announces Three Senior Appointments to Special Assets Team
May 09 2011 - 4:01PM
Hampton Roads Bankshares, Inc. (Nasdaq:HMPRD
) (the
"Company"), the holding company for Bank of Hampton Roads and Shore
Bank, today announced that veteran banking executives Russell A.
Carter, Michael K. Imperial, and Alvin D. Woods have joined the
Company as Senior Vice Presidents and Special Asset Officers. They
will be responsible for analyzing problem credits, developing
courses of action to resolve troubled loans and executing
strategies to optimize resolution of classified assets. They will
be based in Norfolk and will report to Paul Driscoll, Senior Vice
President, Associate General Counsel and Director of Special
Assets.
"A key objective in our plan to return to profitability and
create value for our shareholders is to efficiently and effectively
resolve our non-performing assets and maximize the value of our
existing loan portfolio," said John A. B. "Andy" Davies, Jr., the
Company's President and Chief Executive Officer. "We are also
working diligently to ensure that we have a strong lending team and
framework in place for the future. I have known and worked
with Russell, Mike and Al for many years. They bring over a
century of combined lending experience in our regions and I am
confident that they will help us achieve both
objectives."
Mr. Carter has 37 years of banking experience in the Hampton
Roads area. Prior to joining the Company, he spent twenty
seven years at Bank of America and its predecessor institutions
NationsBank and Sovran Bank, most recently as a Senior Vice
President and Credit Products Officer focusing on residential land
development and construction loans. Prior to that, Mr. Carter
was a Senior Vice President and Residential Relationship Manager,
responsible for a residential loan portfolio that grew from $20
million to exceed $100 million in size during his
tenure. Prior to working for Bank of America, he spent ten
years in branch operations at Virginia National Bank. Mr.
Carter graduated from the College of William and Mary with a
Bachelor of Arts in Business Administration.
With four decades of banking experience in the Hampton Roads
area, Mr. Imperial served for the past five years as Senior Vice
President of Commercial Lending at Bank @Lantec in Virginia Beach,
where he focused on the bank's commercial real estate loan
portfolio and also served on the executive management and loan
committees. Prior to that, Mr. Imperial held senior
commercial lending positions with First Community Bank and
SouthTrust Bank. His work experience also includes 12 years in
commercial and real estate lending at Wachovia Bank, N.A., and nine
years at SunTrust Bank (formerly United Virginia Bank). Mr.
Imperial graduated from Old Dominion University with a Bachelor of
Science in Business Administration.
Mr. Woods has four decades of banking experience in the Hampton
Roads and Washington, D.C. metropolitan areas. Most recently,
Mr. Woods was a Special Assets Officer at Bank of the
Commonwealth. He served for ten years as Chief Lending Officer
at CENIT Bank in Norfolk, Virginia, where he supervised all lending
operations and chaired the loan committee for the $500 million
institution. Previously, he was an Executive Vice President
and manager of the Metro D.C. real estate finance division at
C&S Sovran Corp., where he oversaw a $1.5 billion commercial
and residential loan portfolio. He also served for ten years
as a regional executive and manager of Sovran Bank's Hampton Roads
region. Mr. Woods graduated from Old Dominion University with
a Bachelor of Science in Business Administration.
Caution about Forward-Looking Statements
Certain information contained in this discussion may include
"forward-looking statements." These forward-looking statements
relate to the Company's ability to return to profitability and
create value for its shareholders, efficiently and effectively
resolve its non-performing assets and maximize the value of its
existing loan portfolio and have a strong lending team and
framework in place for the future. There can be no assurance
that the Company will be able to return to profitability and create
value for its shareholders, efficiently and effectively resolve its
non-performing assets and maximize the value of its existing loan
portfolio and have a strong lending team and framework in place for
the future. 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 year ended December 31, 2010, as amended, and other filings
made with the Securities and Exchange Commission.
About Hampton Roads Bankshares
Hampton Roads Bankshares, Inc. is a bank holding company that
was formed in 2001 and is headquartered in Norfolk,
Virginia. The Company's primary subsidiaries are 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, Bank of Hampton Roads operates
forty-eight banking offices in Virginia and North Carolina doing
business as Bank of Hampton Roads and Gateway Bank & Trust
Co. Shore Bank serves the Eastern Shore of Maryland and
Virginia through eight banking offices and fifteen ATMs. Through
various affiliates, the Banks also offer mortgage banking services,
insurance, and investment products. Shares of the Company's
common stock are traded on the NASDAQ Global Select Market under
the symbol "HMPRD." Additional information about the Company
and its subsidiaries can be found at
www.hamptonroadsbanksharesinc.com.
CONTACT: Douglas J. Glenn
Executive Vice President, General Counsel and
Chief Operating Officer
(757) 217-3634
Hampton Roads Bankshares (MM) (NASDAQ:HMPRD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hampton Roads Bankshares (MM) (NASDAQ:HMPRD)
Historical Stock Chart
From Jul 2023 to Jul 2024