Exhibit 99.1

                          DIVIDEND INCREASE REPORTED BY
                            HAMPTON ROADS BANKSHARES

    NORFOLK, Va., Jan. 24 /PRNewswire-FirstCall/ -- The Board of Directors of
Hampton Roads Bankshares, Inc. (Nasdaq: HMPR), the financial holding company
for Bank of Hampton Roads, declared a dividend in the amount of $0.10 per
share on the company's common stock, payable on March 15, 2007, to
shareholders of record as of February 15, 2007.  This will be the company's
21st consecutive dividend payment.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20060608/DCTH075LOGO )

    This was the third dividend declared by the Board in consideration of the
company's 2006 earnings. A $0.20 per share dividend was paid in September 2006
and a $0.10 per share dividend was paid in December 2006. In sum, the dividends
for the year total $0.40 per share which represents a 5.26% increase over the
$0.38 per share dividend paid for 2005.

    Jack W. Gibson, President and Chief Executive Officer of Hampton Roads
Bankshares, commented, "Throughout each year our Board of Directors assesses the
company's performance in anticipation of declaring a dividend to shareholders.
In 2006, our performance improved with each review and the Board responded
favorably with increased dividends." He went on to say, "It is a tremendous
source of pride to me to be a part of an organization that has such a long
history of sharing its financial success with its stockholders. Hampton Roads
Bankshares has paid a dividend to our shareholders at least annually since
1992."

    About Hampton Roads Bankshares

    Hampton Roads Bankshares, Inc. is a financial holding company that was
formed in 2001 and is headquartered in Norfolk, Virginia. The Company's primary
subsidiary is Bank of Hampton Roads, which opened for business in 1987. The Bank
engages in general community and commercial banking business, targeting the
needs of individuals and small to medium-sized businesses. Currently, the Bank
operates 17 banking offices in the Hampton Roads region of southeastern Virginia
and is scheduled to open another this year. Shares of Hampton Roads Bankshares
common stock are traded on the NASDAQ Capital Market under the symbol HMPR.
Additional information about the Company and its subsidiaries can be found on
the Web at http://www.bankofhamptonroads.com.

    Certain statements in this report may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are statements that include projections,
predictions, expectations, or beliefs about events or results or otherwise are
not statements of historical facts. Although the Company believes that its
expectations with respect to certain forward-looking statements are based upon
reasonable assumptions within the bounds of its existing knowledge of its
business and operations, there can be no assurance that actual results,
performance or achievements of the Company will not differ materially from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Actual future results and trends may differ
materially from historical results or those anticipated depending on a variety
of factors. For an explanation of the risks and uncertainties associated with
forward-looking statements, please refer to the Company's Annual Report on Form
10-K for the year ended December 31, 2005, and other reports filed and furnished
to the Securities and Exchange Commission.

SOURCE  Hampton Roads Bankshares, Inc.
    -0-                             01/24/2007
    /CONTACT:  Tiffany K. Glenn, Senior Vice President and Marketing Officer
of Hampton Roads Bankshares, Inc., +1-757-217-1000/
    /Photo:  http://www.newscom.com/cgi-bin/prnh/20060608/DCTH075LOGO
              AP Archive:  http://photoarchive.ap.org
              PRN Photo Desk, photodesk@prnewswire.com/
    /Web site:  http://www.bankofhamptonroads.com /