Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Bill Adams
 2. Date of Event Requiring Statement (Month/Day/Year)
02/23/2007		 3. Issuer Name and Ticker or Trading Symbol
GREENE COUNTY BANCSHARES INC [GCBS]
(Last)
(First)
(Middle)
100 N. MAIN ST		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior V.P. & C.I.O.
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

GREENEVILLE, TN 37743		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 13,590
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Purchase 12/31/1998(1) 12/31/2007 Common Stock 1,860 $ 20 D  
Option to Purchase 12/31/1999(2) 12/31/2008 Common Stock 2,285 $ 23 D  
Option to Purchase 12/31/2000(3) 12/31/2009 Common Stock 2,450 $ 30 D  
Option to Purchase 12/31/2001(4) 12/31/2010 Common Stock 2,450 $ 32 D  
Option to Purchase 12/31/2002(5) 12/31/2011 Common Stock 2,579 $ 16 D  
Option to Purchase 01/10/2004(6) 01/10/2013 Common Stock 2,579 $ 19 D  
Option to Purchase 01/09/2005(7) 01/09/2014 Common Stock 2,579 $ 23.21 D  
Option to Purchase 01/25/2006(8) 01/25/2015 Common Stock 2,265 $ 26.89 D  
Option to Purchase 02/21/2007(9) 02/21/2016 Common Stock 3,139 $ 28.9 D  
Option to Purchase 02/20/2008(10) 02/20/2017 Common Stock 2,380 $ 36.32 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Bill Adams
100 N. MAIN ST
GREENEVILLE, TN 37743		       Senior V.P. & C.I.O.  

Signatures

Steve Ottinger, POA 02/26/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 20% vested 12/31/1998 then 20% vested annually thereafter through 12/31/2007
(2) 20% vested 12/31/1999 then 20% vested annually thereafter through 12/31/2008
(3) 20% vested 12/31/2000 then 20% vested annually thereafter through 12/31/2009
(4) 20% vested 12/31/2001 then 20% vested annually thereafter through 12/31/2010
(5) 20% vested 12/31/2002 then 20% vested annually thereafter through 12/31/2011
(6) 20% vested 1/10/2004 then 20% vested annually thereafter through 1/10/2013
(7) 20% vested 1/09/2005 then 20% vested annually thereafter through 1/09/2014
(8) 20% vested 1/25/2006 then 20% vested annually thereafter through 1/25/2015
(9) 20% vested 2/21/2007 then 20% vested annually thereafter through 2/21/2016
(10) 20% vested 2/20/2008 then 20% vested annually thereafter through 2/20/2017

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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