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 *   Ottinger Steve 2. Date of Event Requiring Statement (Month/Day/Year) 02/27/2007 3. Issuer Name and Ticker or Trading Symbol GREENE COUNTY BANCSHARES INC [GCBS] (Last) (First) (Middle) 100 NORTH 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. & Chief Human Reso 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 7,639 D   Common Stock 235 (1) D Â

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	12/31/1999(2)	12/31/2008	Common Stock	2,130	$ 23	D	Â
Option to Purchase	12/31/2000(3)	12/31/2009	Common Stock	2,100	$ 30	D	Â
Option to Purchase	12/31/2001(4)	12/31/2010	Common Stock	2,100	$ 32	D	Â
Option to Purchase	12/31/2002(5)	12/31/2011	Common Stock	2,210	$ 16	D	Â
Option to Purchase	01/10/2004(6)	01/10/2013	Common Stock	2,210	$ 19	D	Â
Option to Purchase	01/09/2005(7)	01/09/2014	Common Stock	2,210	$ 23.21	D	Â
Option to Purchase	01/25/2006(8)	01/25/2015	Common Stock	2,113	$ 26.89	D	Â
Option to Purchase	02/21/2007(9)	02/21/2016	Common Stock	2,604	$ 28.9	D	Â
Option to Purchase	02/20/2008(10)	02/20/2017	Common Stock	1,956	$ 36.32	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Ottinger Steve 100 NORTH MAIN ST GREENEVILLE, TN 37743	Â	Â	  Senior V.P. & Chief Human Reso	Â

Signatures

Steve Ottinger		02/28/2007
**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)	Owned in joint with spouse
(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

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