N🟁N

Green Bankshares Promotes Robert E. Krimmel to Controller

  //business-finance.news-articles.net/content/201 .. res-promotes-robert-e-krimmel-to-controller.html
  Published in Business and Finance on Friday, June 4th 2010 at 4:25 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

GREENEVILLE, Tenn.--([ BUSINESS WIRE ])--Green Bankshares, Inc. (NASDAQ: GRNB), the holding company for GreenBank, today announced that it has promoted Robert E. Krimmel to Controller. He replaces Glen Allen, who recently resigned to pursue other interests. In his new role, Krimmel will oversee the Company's regulatory and SEC reporting, cash management and treasury functions, and budgeting and forecasting, among other duties.

"We are very fortunate to have such a qualified candidate within our ranks to promote to the position of Controller. We are very aware of the talents, dedication and leadership he brings to our company and we look forward to his continued contribution to our future growth."

Krimmel joined GreenBank in December 2004 and most recently served as Asset/Liability Manager with responsibility for the Company's treasury operations, including setting policies and procedures, management of investment portfolios, and the overall management of internal financial operations for all regions and branches. Prior to joining GreenBank, he was an accountant with Landair Transport. Krimmel is a Certified Public Accountant and received a Bachelor of Business Administration degree as well as a Master of Accountancy degree from East Tennessee State University.

Commenting on the appointment, James E. Adams, Executive Vice President and Chief Financial Officer for Green Bankshares, said, "We are very fortunate to have such a qualified candidate within our ranks to promote to the position of Controller. We are very aware of the talents, dedication and leadership he brings to our company and we look forward to his continued contribution to our future growth."

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.