8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

__________________________
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 4, 2010

GREEN BANKSHARES, INC.
(Exact name of Registrant as specified in its charter)

Tennessee	0-14289	62-1222567
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

100 North Main Street, Greeneville, Tennessee  37743-4992

(Address of principal executive offices)

(423) 639-5111
Registrant's telephone number, including area code


Not Applicable
(Former Name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On March 4, 2010, Ronald E. Mayberry informed the Company that he does not intend to stand for re-election to the Board of Directors of Green Bankshares, Inc. at its upcoming annual meeting on April 30, 2010.  Expressing no disagreements with the Company, its Board of Directors or management, Mayberry indicated his decision not to stand for re-election was intended to reduce the number of inside Directors on the Board and further strengthen the Company's strong corporate governance practices.

ITEM 9.01.    FINANCIAL STATEMENTS AND EXHIBITS.

(d)	Exhibits.
	99.1	Press Release dated March 4, 2010

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.

		GREEN BANKSHARES, INC.
Date:	March 4, 2010	By:	/s/	James E. Adams
				James E. Adams
				Executive Vice President and
				Chief Financial Officer
				(Duly Authorized Representative)

EXHIBIT INDEX

Exhibit Number	Description of Exhibit(s)
99.1	Copy of press release issued by the Company on March 4, 2010.

EX-99.1

Exhibit 99.1

Green Bankshares Announces Intention of Ronald E. (Ed) Mayberry Not to Stand for Re-Election to Board of Directors

GREENEVILLE, Tenn.--(BUSINESS WIRE)--March 4, 2010--Green Bankshares, Inc. (NASDAQ: GRNB), the holding company for GreenBank, today announced that Ronald E. (Ed) Mayberry has informed the Company that he does not intend to stand for re-election to the Board of Directors of Green Bankshares, Inc. at its upcoming annual meeting in April. Mayberry commented, "With enhancement of the Company's corporate governance practices in mind, I have decided that I will not stand for re-election when my current term expires in April. As a Company, we consciously moved to enhance our corporate governance profile through the appointment of an Independent Lead Director during 2009. My decision not to stand for re-election will further this effort and reduce the number of inside Directors on the Board, further fortifying our strong corporate governance practices. It has been a pleasure and a great honor to have served on the Board over the past seven years, and I look forward to working with the Board, management and all employees now and in the future." Mayberry will continue in his leadership role with the Company as Regional Executive for Sumner County, Tennessee.

Stan Puckett, Chairman and Chief Executive Officer, commented, "Ed has been an active member of our Board since 2003. While we will miss his wise counsel, we respect his decision and certainly join him in wanting to strengthen our corporate governance practices."

Greeneville, Tennessee-based Green Bankshares, Inc., with total assets of approximately $2.60 billion, is the holding company for GreenBank. GreenBank, which traces its origin to 1890, has 63 branches across East and Middle Tennessee, and one branch each in Bristol, Virginia, and Hot Springs, North Carolina. It also provides wealth management services through its GreenWealth Division and residential mortgage lending through its Mortgage Division. In addition, GreenBank conducts separate businesses through three wholly owned subsidiaries: Superior Financial Services, Inc., a consumer finance company; GCB Acceptance Corporation, a consumer finance company specializing in automobile lending; and Fairway Title Co., a title insurance company.

CONTACT:
Green Bankshares, Inc.
James E. Adams, 423-278-3050
Executive Vice President and Chief Financial Officer