On October 27, 2009, the Board of Directors of Green Bankshares, Inc. elected Bill Mooningham to the Company's Board of Directors.  They also appointed him to the Audit Committee of the Board of Directors.  Mooningham (age 63), a Certified Public Accountant, was previously partner in the assurance practice of Ernst & Young LLP, an international public accounting firm.  During his 37-year career there, and as partner for the last 22 years, he oversaw the audits of many publicly held companies, gaining significant experience in a range of industries, including banking, and across all types of financial transactions.  Following his retirement from Ernst & Young in 2007, he has served as an adjunct professor of accounting at Middle Tennessee State University in Murfreesboro, Tennessee.  Mooningham, whose term will expire in 2012, will serve on the Company's Audit Committee.

Mooningham's annual compensation as a Board member is in accordance with guidelines set forth in the Company's proxy statement dated March 25, 2009, including an annual retainer, payments for regular monthly and specially called meetings, and certain payments for committee participation.  At the election of each Director, a portion of the annual retainer may be taken in the form of restricted stock awards, and Mooningham will be eligible to make this election when the next annual election occurs for all Board members.

There were no understandings or arrangements with any person regarding Mooningham's election to the Board, and there are no family relationships between he and any other officer or director of the Company.  He has not participated in any transactions with the Company that, in the aggregate, exceed $120,000.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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