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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
        D.C. 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
        to Section 13 or 15(d) of the</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities
        Exchange Act of 1934</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        Report (Date of earliest event reported): August 30, 2005</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>GREENE
        COUNTY BANCSHARES, INC.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 2pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>(Exact
        Name of Registrant as Specified in Charter)</em></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><br></div>
      <div align="center">
        <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="#ffffff">
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">Tennessee</font></strong></div>
              </td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">0-14289</font></strong></div>
              </td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">62-1222567</font></strong></div>
              </td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">(State
                  or Other Jurisdiction of
                  Incorporation)</font></em></div>
              </td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2"><em>(Commission</em></font><font size="3"><em>F</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>ile
                  Number)</em></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 125.55pt">&#160;</font></div>
              </td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">(I.R.S.
                  Employer Identification
                  No.)</font></em></div>
              </td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="33.33%">&#160;</td>
              <td width="33.33%">&#160;</td>
              <td width="33.33%">&#160;</td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 118.65pt"></font>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 2pt" align="justify"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 118.65pt">&#160;</font>
        <div align="center">
          <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%">

              <tr bgcolor="#ffffff">
                <td width="50%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">100
                    North Main
                    Street</font></strong></div>
                </td>
                <td width="50%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">37743-4992</font></strong></div>
                </td>
              </tr>
              <tr bgcolor="#ffffff">
                <td width="50%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">Greeneville,
                    Tennessee</font></strong></div>
                </td>
                <td width="50%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">(Zip
                    Code)</font></em></div>
                </td>
              </tr>
              <tr bgcolor="#ffffff">
                <td width="50%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">(Address
                    of Principal Executive
                    Offices)</font></em></div>
                </td>
                <td width="50%">&#160;</td>
              </tr>

          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 2.15pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(423)
        639-5111</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>(Registrant&#8217;s
        Telephone Number, Including Area Code)</em></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 2.15pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 2.15pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Not
        Applicable</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>(Former
        Name or Former Address, if Changed Since Last Report)</em></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see
        </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
        Instruction A.2. below):</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                  240.14a-12)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                  communications pursuant to Rule 14d-2(b) under the Exchange Act
                  (17 CFR
                  240.14d-2(b))</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                  communications pursuant to Rule 13e-4(c) under the Exchange Act
                  (17 CFR
                  240.13e-4(c))</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong><font size="2">Item
        1.01.<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Entry
        Into a Material Definitive Agreement</font></font></strong></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        August
        30, 2005, Greene County Bancshares, Inc., a Tennessee corporation (the
        "Company") entered into and became obligated under a Revolving Credit Agreement
        (the "Credit Agreement") by and between the Company and SunTrust Bank
        ("SunTrust") pursuant to which SunTrust has agreed to loan the Company up
        to
        $35,000,000, with such maximum amount available under the Credit Agreement
        being
        reduced to $15,000,000 after November 30, 2005 (the "Loan"). </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SunTrust's
        obligation to make the Loan to the Company terminates on August 29, 2006,
        unless
        the Loan is extended or earlier terminated, in accordance with the terms
        of the
        Credit Agreement. Advances under the Loan will bear interest, at our discretion,
        at a rate of one, two, three or six month LIBOR plus 1.75% per annum from
        August
        30, 2005 to November 30, 2005 and at a rate of one, two, three or six month
        LIBOR plus 1.25% per annum from November 30, 2005 to the end of the Loan's
        term.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company also must pay SunTrust a commitment fee equal to 0.15% per annum
        on the
        average daily amount of the Loan that has not been borrowed by the Company.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Credit Agreement contains customary representations and warranties as well
        as
        certain restrictions on the Company's activities during the term of the Loan,
        including, among other things, the Company's, and its subsidiaries', ability
        to
        incur additional indebtedness that is not subordinate to the Loan or that
        is not
        indebtedness to the Federal Reserve Board or the Federal Home Loan Bank.
        The
        terms of the Credit Agreement also prohibit the Company from allowing certain
        liens to be placed on the Company's, or its subsidiaries', assets or from
        entering into certain business combination transactions. In addition to these
        restrictive covenants, the Credit Agreement contains certain financial covenants
        that require the Company and the&#160;Company's wholly owned subsidiary
        Greene
        County Bank (the "Bank")&#160;to, among other things, (i) maintain a ratio
        of
        tangible net worth to total tangible assets of at least 4.5% from August
        30,
        2005 to November 30, 2005 and of at least 6.5% thereafter; (ii) achieve a
        return
        on total average assets of not less than 0.80% for each fiscal quarter and
        the
        previous three fiscal quarters; (iii) keep its ratio of nonperforming assets
        to
        total loans and other real estate owned below 1.75%; and (iv) achieve certain
        capital ratios.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Credit Agreement contains customary events of default
        including:</font><br></div>
      <div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 72pt">&#160;</td>
                <td style="WIDTH: 36pt"><font size="2">&#9679;</font>&#160;</td>
                <td><font size="2">payment defaults;</font>&#160;</td>
              </tr>

          </table>
        </div>
        <div>&#160;</div>
        <div>
          <div>
            <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                <tr valign="top" style="LINE-HEIGHT: 1.25">
                  <td style="WIDTH: 72pt">&#160;</td>
                  <td style="WIDTH: 36pt">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9679;</font>&#160;</div>
                  </td>
                  <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">bankruptcy
                    and insolvency; </font></td>
                </tr>

            </table>
          </div>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 72pt">&#160;</td>
                <td style="WIDTH: 36pt">&#160;</td>
                <td>&#160;</td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 72pt">&#160;</td>
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9679;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">failure
                    by the Company to perform any covenant in the Credit Agreement
                    after any
                    applicable cure period; </font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 72pt">&#160;</td>
                <td style="WIDTH: 36pt">&#160;</td>
                <td>&#160;</td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 72pt">&#160;</td>
                <td style="WIDTH: 36pt"><font size="2">&#9679;</font>&#160;</td>
                <td><font size="2">failure by the Company to timely pay other indebtedness
                  in excess of $5 million;&#160;</font>&#160;</td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 72pt">&#160;</td>
                <td style="WIDTH: 36pt">&#160;</td>
                <td>&#160;</td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 72pt">&#160;</td>
                <td style="WIDTH: 36pt"><font size="2">&#9679;</font>&#160;</td>
                <td><font size="2">a change in control of the Company;
                  or</font>&#160;</td>
              </tr>

          </table>
        </div>
      </div>
      <div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 72pt">&#160;</td>
                <td style="WIDTH: 36pt">&#160;</td>
                <td>&#160;</td>
              </tr>

          </table>
        </div>
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                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                    entering into by the Company or certain subsidiaries of a written
                    agreement with any governmental authority having regulatory authority
                    over
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                    million.</font></div>
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        Loan
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        common stock of the Bank pursuant to the terms of a Security Agreement entered
        into by and between the Company and SunTrust dated as of August 30,
        2005.</font></div>
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                <td><font size="2">that no event of default shall
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                    accuracy of the representations and warranties made by the Company
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            <tr valign="top" style="LINE-HEIGHT: 1.25">
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9679;</font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                  absence of any change that has had or would reasonably be expected
                  to have
                  a material adverse effect on (i) the Company's, and its subsidiaries',
                  business, results of operations or financial condition; (ii) the
                  ability
                  of the Company to perform its obligations under the Credit Agreement;
                  (iii) the rights or remedies of SunTrust under the Credit Agreement
                  or any
                  of the documents related to the Loan; or (iv) the legality, validity
                  or
                  enforceability of the documents related to the Loan.
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        Arrangement of a Registrant.</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        information set forth in Item 1.01 above is incorporated by reference herein
        as
        if fully set forth herein.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 1.9pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 27pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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. </font></div>
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              <tr valign="top" bgcolor="#ffffff">
                <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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                    COUNTY BANCSHARES, INC.</strong></font></div>
                </td>
              </tr>
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                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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              <tr valign="top" bgcolor="#ffffff">
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;<font size="3">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">September
                  6, 2005</font></font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                  William F.
                  Richmond&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  </u><font id="TAB2" style="COLOR: black; LETTER-SPACING: 190.35pt" size="3">&#160;</font></font></td>
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                <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
                <td align="left"><strong><font size="2">William F.
                  Richmond</font></strong></td>
              </tr>
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                <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Senior
                  Vice President, Chief Financial Officer and Assistant Secretary
<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Duly
                  Authorized
                  Representative)</font></font></td>
              </tr>

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{"company-data": {"conformed-name": "GREENE COUNTY BANCSHARES INC", "cik": "0000764402", "assigned-sic": "6022", "irs-number": "621222567", "state-of-incorporation": "TN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-14289", "film-number": "051070382"}, "business-address": {"street1": "100 NORTH MAIN STREET", "city": "GREENEVILLE", "state": "TN", "zip": "37743-4992", "phone": "4236395111"}, "mail-address": {"street1": "P O BOX 1120", "city": "GREENEVILLE", "state": "TN", "zip": "37744-1120"}}
Unassociated Document
UNITED
        STATES
SECURITIES
        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): August 30, 2005
GREENE
        COUNTY BANCSHARES, INC.
(Exact
        Name of Registrant as Specified in Charter)
Tennessee
0-14289
62-1222567
(State
                  or Other Jurisdiction of
                  Incorporation)
(Commission
F
ile
                  Number)
(I.R.S.
                  Employer Identification
                  No.)
100
                    North Main
                    Street
37743-4992
Greeneville,
                    Tennessee
(Zip
                    Code)
(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 (
see
General
        Instruction A.2. below):
o
Written
                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425)
o
Soliciting
                  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                  240.14a-12)
o
Pre-commencement
                  communications pursuant to Rule 14d-2(b) under the Exchange Act
                  (17 CFR
                  240.14d-2(b))
o
Pre-commencement
                  communications pursuant to Rule 13e-4(c) under the Exchange Act
                  (17 CFR
                  240.13e-4(c))
Item
        1.01.
Entry
        Into a Material Definitive Agreement
On
        August
        30, 2005, Greene County Bancshares, Inc., a Tennessee corporation (the
        "Company") entered into and became obligated under a Revolving Credit Agreement
        (the "Credit Agreement") by and between the Company and SunTrust Bank
        ("SunTrust") pursuant to which SunTrust has agreed to loan the Company up
        to
        $35,000,000, with such maximum amount available under the Credit Agreement
        being
        reduced to $15,000,000 after November 30, 2005 (the "Loan").
SunTrust's
        obligation to make the Loan to the Company terminates on August 29, 2006,
        unless
        the Loan is extended or earlier terminated, in accordance with the terms
        of the
        Credit Agreement. Advances under the Loan will bear interest, at our discretion,
        at a rate of one, two, three or six month LIBOR plus 1.75% per annum from
        August
        30, 2005 to November 30, 2005 and at a rate of one, two, three or six month
        LIBOR plus 1.25% per annum from November 30, 2005 to the end of the Loan's
        term.
The
        Company also must pay SunTrust a commitment fee equal to 0.15% per annum
        on the
        average daily amount of the Loan that has not been borrowed by the Company.
The
        Credit Agreement contains customary representations and warranties as well
        as
        certain restrictions on the Company's activities during the term of the Loan,
        including, among other things, the Company's, and its subsidiaries', ability
        to
        incur additional indebtedness that is not subordinate to the Loan or that
        is not
        indebtedness to the Federal Reserve Board or the Federal Home Loan Bank.
        The
        terms of the Credit Agreement also prohibit the Company from allowing certain
        liens to be placed on the Company's, or its subsidiaries', assets or from
        entering into certain business combination transactions. In addition to these
        restrictive covenants, the Credit Agreement contains certain financial covenants
        that require the Company and the Company's wholly owned subsidiary
        Greene
        County Bank (the "Bank") to, among other things, (i) maintain a ratio
        of
        tangible net worth to total tangible assets of at least 4.5% from August
        30,
        2005 to November 30, 2005 and of at least 6.5% thereafter; (ii) achieve a
        return
        on total average assets of not less than 0.80% for each fiscal quarter and
        the
        previous three fiscal quarters; (iii) keep its ratio of nonperforming assets
        to
        total loans and other real estate owned below 1.75%; and (iv) achieve certain
        capital ratios.
The
        Credit Agreement contains customary events of default
        including:
●
payment defaults;
●
bankruptcy
                    and insolvency;
●
failure
                    by the Company to perform any covenant in the Credit Agreement
                    after any
                    applicable cure period;
●
failure by the Company to timely pay other indebtedness
                  in excess of $5 million;
●
a change in control of the Company;
                  or
●
the
                    entering into by the Company or certain subsidiaries of a written
                    agreement with any governmental authority having regulatory authority
                    over
                    the Company that requires the payment of in excess of $5
                    million.
The
        Loan
        is secured by SunTrust's lien and security interest in all of the outstanding
        common stock of the Bank pursuant to the terms of a Security Agreement entered
        into by and between the Company and SunTrust dated as of August 30,
        2005.
2
SunTrust's
        obligation to make any Loan under the Credit Agreement is subject to customary
        conditions precedent including, among others, the following:
●
that no event of default shall
                  exist;
●
the
                    accuracy of the representations and warranties made by the Company
                    in the
                    Credit Agreement; and
●
the
                  absence of any change that has had or would reasonably be expected
                  to have
                  a material adverse effect on (i) the Company's, and its subsidiaries',
                  business, results of operations or financial condition; (ii) the
                  ability
                  of the Company to perform its obligations under the Credit Agreement;
                  (iii) the rights or remedies of SunTrust under the Credit Agreement
                  or any
                  of the documents related to the Loan; or (iv) the legality, validity
                  or
                  enforceability of the documents related to the Loan.
Item
        2.03.
Creation
        of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
        Arrangement of a Registrant.
The
        information set forth in Item 1.01 above is incorporated by reference herein
        as
        if fully set forth herein.
3
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.
GREENE
                    COUNTY BANCSHARES, INC.
Date:
September
                  6, 2005
By:
/s/
                  William F.
                  Richmond
William F.
                  Richmond
Senior
                  Vice President, Chief Financial Officer and Assistant Secretary
(Duly
                  Authorized
                  Representative)
4