NEWS

WIRES

OTHER

Green Bankshares Names Stephen M. Rownd Chairman and Chief Executive Officer

Commenting on the appointment, John Tolsma, a Green Bankshares director and chairman of the Board's search committee tasked with identifying a successor to fill the CEO position, said, "After an extensive search process and the consideration of many capable candidates, both within and outside our company, we are pleased to announce that Steve Rownd will be joining Green Bankshares as Chairman and Chief Executive Officer. He is well known and highly regarded in the banking industry, and, with almost 30 years of banking experience, we are confident that Steve will be an outstanding leader for our company and the Bank. We believe Steve's extensive experience and background in banking, reflecting a solid mix of commercial lending and risk management within large community and super-regional banks, will be invaluable to us as we continue to navigate a challenging industry environment. In addition, he has played important roles in the growth and expansion of several financial institutions during his career, which we believe will be beneficial in our strategic planning for the future of our company."

In commenting on his new role, Rownd added, "I am honored to join a talented and dedicated management team at Green Bankshares. As a banker in the Southeast for my entire career, I have come to know the Bank's reputation for financial strength, deep community roots, and passionate customer service. My priority as Chairman and Chief Executive Officer of Green Bankshares will be to continue these long-standing traditions, working to further differentiate GreenBank in the ways it meets our customers' needs for banking services, residential mortgage lending and wealth management."

Most recently, Rownd served as Executive Vice President and Senior Commercial Banker for Fifth Third Bank of the Carolinas, where he led a successful new commercial banking team focused on middle market lending, commercial real estate and treasury services, including the restructuring of the commercial real estate teams to manage weak credit situations, maximize yields on the portfolio, and reduce its risk profile. He joined Fifth Third Bank of the Carolinas in 2008 through the acquisition of First Charter Corporation/First Charter Bank of Charlotte, North Carolina, where he had served since 2000 - first as Executive Vice President and Chief Risk Officer and later as Executive Vice President and Chief Banking officer. His earlier career includes positions of increasing responsibility in the areas of risk management and credit process with SunTrust Bank, Orlando, Florida; First National Bancorp/First National Bank, Gainesville, Georgia; and Barnett Banks in Atlanta and Miami. Rownd earned his Business Administration in Economics from Haverford College, Haverford, Pennsylvania.

Greeneville, Tennessee-based Green Bankshares, Inc., with total assets of approximately $2.619 billion, is the holding company for GreenBank. GreenBank, which traces its origin to 1890, has 63 branches across East and Middle Tennessee, and one branch each in Bristol, Virginia, and Hot Springs, North Carolina. It also provides wealth management services through its GreenWealth Division and residential mortgage lending through its Mortgage Division. In addition, GreenBank conducts separate businesses through three wholly owned subsidiaries: Superior Financial Services, Inc., a consumer finance company; GCB Acceptance Corporation, a consumer finance company specializing in automobile lending; and Fairway Title Co., a title insurance company.

Certain matters discussed in this news release are not historical facts but are "forward-looking statements" within the meaning of and are furnished pursuant to the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risk and uncertainty and actual results could differ materially from the anticipated results or other expectations expressed in the forward-looking statements. Risks and uncertainties related to the Company's business are discussed in the Company's SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2009, and include, but are not limited to, (1) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (2) continuation of the historically low short-term interest rate environment; (3) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (4) increased competition with other financial institutions in the markets that GreenBank serves; (5) greater than anticipated deterioration or lack of sustained growth in the national or local economies; (6) rapid fluctuations or unanticipated changes in interest rates; (7) the impact of governmental restrictions on entities participating in the Capital Purchase Program of the United States Department of the Treasury; (8) changes in state and federal legislation, regulations or policies applicable to banks or other financial service providers, including regulatory or legislative developments arising out of current unsettled conditions in the economy and (9) the loss of key personnel. The Company undertakes no obligation to update forward-looking statements.

Green Bankshares, Inc.
James E. Adams, 423-278-3050
Executive Vice President and Chief Financial Officer