GREENEVILLE,  Tenn--(BUSINESS  WIRE)--April 18,  2001--Greene County Bancshares,
Inc.  today reported  first quarter  earnings of $2.91  million,  a 34.7 percent
increase over 2000 first quarter earnings of $2.16 million. Diluted earnings per
share for the period  ended March 31, 2001 were $2.11  compared to $1.57 for the
same quarter last year. Return on average assets for the quarter ended March 31,
2001 was 1.52% compared to 1.28% for the same quarter of 2000.

Total consolidated assets grew 6.0 percent, to $781.5 million at March 31, 2001,
an increase of $44.3 million from March 31, 2000.  Total deposits reached $631.3
million, up 9.1 percent from $578.4 million one year ago. Net loans increased to
$671.6 million,  16.6 percent above March 2000 totals of $576.1  million.  Total
stockholders'  equity at March  31,  2001 was $65.2  million  compared  to $62.4
million one year ago, an increase of 4.5 percent.

"The  first  quarter  2001 net  income  of  $2.91  million  represents  the most
profitable quarter in the 110 year history of Greene County  Bancshares,  Inc.,"
said Stan Puckett,  Greene County Bancshares  President and CEO. "We have a long
history of superior  performance  and our staff is committed  to extending  this
tradition  of  excellence.  We continue to  emphasize  credit  quality,  expense
control and the generation of non-interest  income.  It is our belief that these
are the  components  that will  most  directly  determine  our  performance.  We
appreciate the support of our customers and shareholders."

For further information, contact Stan Puckett at 423-787-1227.