Aggregate Amount

Of Recent Purchase

Was $11.6 Million

By DOUGLAS WATSON

Managing Editor

Scott M. Niswonger, the Greeneville businessman and philanthropist, now owns slightly more than five percent of the common stock of Green Bankshares, Inc., the holding company of GreenBank, whcih is based in Greeneville.

With a recent major purchase and his previously-owned shares, Niswonger now owns a total of 659,105 shares of the stock.

The U.S. Securities and Exchange Commission has reported that, as of April 28, "The [recently purchased] common stock has been acquired with personal funds of Mr. Niswonger. The total aggregate purchase price was $11.6 million."

Niswonger said in an interview with The Greeneville Sun before the bank's annual shareholders' meeting on Tuesday that he previously had owned stock in Green Bankshares.

But, he said, when he added more shares to his portfolio, his ownership in the bank rose above five percent. When that happened, he explained, the SEC was required by law to make public his ownership of stock in the bank.

According to the SEC, Niswonger now holds 5.07 shares of the bank's total common stock.

Asked why he was buying more Green Bankshares' stock, Niswonger said, "At this point, I see it as a great investment."

In regard to GreenBank, Niswonger said, "It's got a solid management team and board of directors."

He added that he owns shares of stock in "hundreds of companies."

During the question-and-answer period of the shareholders' meeting, Stan Puckett, chairman and CEO of Green Bankshares and of GreenBank, was asked to comment on Niswonger's purchase of a substantial block of the bank's stock.

Puckett said, "I'm very pleased that he has chosen to be a shareholder." He added that he has known Niswonger for 20 years and holds him in the highest regard.