Hampton Roads Bankshares

Declares $0.11 Per Share Dividend

At their meeting held on October 23, 2007, our Board of Directors declared a quarterly dividend in the amount of $0.11 per share payable on December 14, 2007, to shareholders of record as of November 15, 2007.  This will be our 24th consecutive dividend payment to shareholders.

The annualized dividend of $0.44 per share represents a 10% increase over the $0.40 per share dividend paid in the comparable period in 2006.

Hampton Roads Bankshares Reports 21% Increase in Third Quarter Earnings

We're proud to report that our net income in the third quarter of 2007 was $1,836,493 an increase of 20.9% over the comparable period in 2006.  Diluted earnings per share for the quarter were $0.18 compared with $0.16 in the third quarter of 2006.  For the first nine months of 2007, we earned $5,097,506, or $0.49 per diluted share, compared to $4,413,566, or $0.49 per diluted share in the same period in 2006. 

Our strong earnings produced a return on average assets of 1.38% and a return on average shareholders’ equity of 10.15% for the third quarter of 2007.  For the first nine months of 2007, the ratios were 1.34% and 9.58%, respectively. 

President and Chief Executive Officer Jack W. Gibson commented, “Last July we raised approximately $19 million in new capital through a rights offering and public offering resulting in the issuance of 1,849,200 new shares of our common stock.  At that time, we projected that it would take approximately eighteen months for our earnings per share to recover from the dilution caused by the stock issuance.  I am exceptionally pleased that we were able to recover from the event in just twelve months and moreover, actually increase earnings per share 12.5% over third quarter 2006.” 

For the third quarter of 2007, our total average assets were $529 million or 19.7% ahead of $442 million a year ago.  The largest component of our asset growth was a 30.3% increase in total average loans; from third quarter 2006 to third quarter 2007, our total average loans increased $102 million.  Total average deposits were up 18.2% from $336 million as of the quarter ended September 30, 2006 to $397 million for the third quarter of 2007. 

To view our September 30, 2007 Financial Highlights, click here.

To view our Third Quarter Earnings Press Release, click here.

Hampton Roads Bankshares Qualifies for

NASDAQ Global Select Market Listing

Effective September 12, 2007, shares of Hampton Roads Bankshares common stock will trade on the NASDAQ Global Select Market alongside some of the most elite companies in the world.  Our shares will trade under the symbol HMPR. 

The NASDAQ Global Select Market has the highest listing standards of any stock market in the world, with measures based on market value, liquidity and earnings.  In addition, listed companies must satisfy all of NASDAQ’s strict corporate governance requirements.  As a result, the NASDAQ Global Select Market is comprised of some of the highest-performing, well-managed companies in the world.

Transferring our stock from the NASDAQ Capital Market to this elite market tier is just one more step we are taking to continue to enhance the value of our shareholders' investments in our company.

Bank of Hampton Roads Receives

Financial Safety Rating of "A"

TheStreet.com Ratings has awarded Bank of Hampton Roads a financial safety rating of "A" or "Excellent."  This rating recognizes our bank as an outstanding financial institution offering excellent financial stability for its customers, vendors and employees.  Fewer than four percent of the nation's banks and thrifts meet TheStreet.com Ratings' criteria for this category signifying exceptional financial strength. 

For more information, please visit www.thestreet.com/ratings.

Hampton Roads Bankshares

Joins Russell Microcap Index

Effective at the close of market on June 22, 2007, Hampton Roads Bankshares joined the Russell Microcap Index. 

Russell provides the leading U.S. equity index family for institutional investors, with 26 indexes and over $3.8 million in investment assets benchmarked against them.  The Russell Microcap Index includes the smallest 1,000 securities in the small-cap Russell 2000 Index plus the next 1,000 securities and is designed to present a gauge for how this market segment is performing.

General Information

Hampton Roads Bankshares, Inc., the financial holding company for Bank of Hampton Roads, is listed and traded on the NASDAQ Global Select Market.  Our symbol is HMPR. To buy or sell shares, please contact a broker of your choice. Before investing in any stock, you should know some basic information about the company.

Bank of Hampton Roads originated in Chesapeake in 1987 and has flourished into 17 branch locations located throughout Southside Hampton Roads. We pride ourselves on offering competitively-priced deposit and loan products delivered with the best in customer service. In addition, we offer all of the modern banking conveniences, including check imaging, telephone and Internet banking, and VISA Check Cards.

Contact Us

Registered shareholders seeking information regarding stock transfer, lost certificates, address changes, re-registration of shares to reflect a change of name or gift of stock may contact Registrar and Transfer Company by letter, telephone or online at:

Registrar and Transfer Company

10 Commerce Drive

Cranford, New Jersey 07016-3572

1-800-368-5948

info@rtco.com

Shareholders, analysts, and investors seeking financial information about the Company, including copies of the 2006 Annual Report and the Form 10K, filed with the Federal Reserve Board, may contact:

Donald W. Fulton, Jr.
Senior Vice President and Chief Financial Officer
Bank of Hampton Roads
999 Waterside Drive, Suite 200
Norfolk, VA 23510
(757) 217-1000

To obtain a copy of the Dividend Reinvestment Plan, please forward inquiries to:

Tiffany K. Glenn
Senior Vice President, Marketing Officer and Corporate Secretary
Shareholder Relations Department
Bank of Hampton Roads
999 Waterside Drive, Suite 200
Norfolk, VA 23510
(757) 217-1000

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