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): October 22, 2007

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

          Tennessee                 0-14289                   62-1222567
          ---------                 -------                   ----------
(State or Other Jurisdiction      (Commission              (I.R.S. Employer
      of Incorporation)           File Number)            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 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On October 22, 2007, Green Bankshares,  Inc. (the "Company")  announced its
financial  results for the third  quarter and nine months  ended  September  30,
2007. The full text of the press release is set forth in Exhibit 99.1 hereto.

     The  information  in this  Form  8-K  and the  attached  Exhibit  is  being
furnished pursuant to Item 2.02 "Results of Operations and Financial  Condition"
and shall not be deemed  "filed" for  purposes  of Section 18 of the  Securities
Exchange Act of 1934 or otherwise  subject to the  liabilities  of that section,
nor  shall it be  deemed  incorporated  by  reference  in any  filing  under the
Securities  Act of 1933,  except as shall be  expressly  set  forth by  specific
reference in such filing.

ITEM 7.01. REGULATION FD DISCLOSURE.

     On October 22, 2007,  the Company  announced its financial  results for the
third  quarter and nine months ended  September  30, 2007.  The full text of the
press release is set forth in Exhibit 99.1 hereto.

     The  information  in this  Form  8-K  and the  attached  Exhibit  is  being
furnished  pursuant to Item 7.01  "Regulation  FD  Disclosure"  and shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934
or otherwise subject to the liabilities of that section,  nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, except
as shall be expressly set forth by specific reference in such filing.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

         (d)    Exhibits.

                99.1        Press Release dated October 22, 2007



                                   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:  October 23, 2007           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 October 22, 2007.