EXHIBIT 99.1

September 20, 2000

CONTACT: Stan Puckett, President                           FOR IMMEDIATE RELEASE
(423) 787-1227

Greene County Bank issued the following statement by Stan Puckett, President and
CEO.

         "We are  pleased to  announce  that we have  signed an  agreement  with
         Wachovia  Bank to  purchase  its Lee Highway  branch bank in  Abingdon,
         Virginia,  as well as the Hot Springs,  North Carolina  branch bank. We
         also  signed an  agreement  with  Wachovia  Bank to sell our  Farragut,
         Tennessee branch.

         Once these transactions are completed,  the branches will represent our
         initial  entry into  Virginia  and North  Carolina and will allow us to
         expand  into  other  southwest  Virginia  and  western  North  Carolina
         communities.  We have been searching for the opportunity to branch into
         Virginia and North  Carolina and we are very pleased with both of these
         situations.  Abingdon is a dynamic, vibrant community with an excellent
         business climate. We look forward to being a part of this great town.

         Hot Springs,  North  Carolina is similar to other markets that we serve
         and we are excited to bring  community  banking to the  individuals and
         businesses of Hot Springs and surrounding areas."

         These proposed branch purchases and the sale of the Farragut, Tennessee
         branch are subject to regulatory  approval and other conditions and are
         expected to close in first quarter 2001.

         Greene County Bank is  headquartered  in Greeneville,  Tennessee and is
         the largest  community bank in Tennessee with 27 branch banks in twelve
         east Tennessee counties and $750 million in total assets.

         Contact Stan Puckett @ 423-787-1227 for additional information.