Appointments Announced At The Palmetto Bank

April 20, 2010

Greenville, S.C. – The Palmetto Bank announced the following appointments that continue the Bank’s initiative to hire relevant industry and subject matter expertise to improve its overall risk management infrastructure:

Brandi H. Anderson joined The Palmetto Bank as the Other Real Estate Owned manager in the Special Assets Department. She received a Bachelor of Arts degree from the University of South Carolina. Anderson brings 10 years banking experience to her position at The Palmetto Bank, including more than 7 years experience in credit risk management and problem asset workout.

Colin M. Griffin joined The Palmetto Bank as an Asset Manager in the Special Assets Department. Griffin received a Bachelor of Science degree in Economics from Clemson University and is attending the South Carolina Bankers School. Griffin has three years banking experience as a credit analyst and is also focused on accelerating the disposition of problem assets.

Michelle Simmons joined The Palmetto Bank as Accounting Analyst in the Finance Department. Simmons received a Bachelor of Science degree in Business Administration from USC-Upstate and a Masters of Professional Accountancy from Clemson University. Simmons brings five years of public accounting and banking experience to The Palmetto Bank.

“We are delighted to have Brandi, Colin, and Michelle join The Palmetto Bank team,” said Sam Erwin, Chief Executive Officer and President, The Palmetto Bank. “We are confident their general banking experience and specific subject matter expertise will continue to accelerate our efforts to address the challenges presented by this uncertain economic environment and the rapidly evolving financial services industry.”

Headquartered in Greenville, South Carolina, The Palmetto Bank is a 104-year old independent state-chartered commercial bank and is the fifth-largest banking institution headquartered in South Carolina. The Palmetto Bank has assets of $1.3 billion and serves the Upstate through 29 banking locations in Abbeville, Anderson, Cherokee, Greenville, Greenwood, Laurens, Oconee, Pickens, Spartanburg and York counties. The Bank specializes in providing personalized community banking services to individuals and small to mid-size businesses including Retail and Commercial Banking, Mortgage, Trust, Brokerage, and Insurance. Additional information may be found at the company's web site at www.palmettobank.com.

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Certain statements in this News Release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements and factors which could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements include but are not limited to: (1) the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations which could result in, among other things, a deterioration in the credit quality or a reduced demand for credit, including the resultant effect on our loan portfolio and allowance for loan losses and the rate of delinquencies and amounts of charge-offs, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (2) statements with respect to Palmetto Bancshares' plans, objectives, expectations and intentions and other statements that are not historical facts; (3) the risk that the preliminary financial information reported herein and our current preliminary analysis will be different when our review is finalized; (4) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) and the impact of such conditions on the company; and (5) other statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” and “projects,” as well as similar expressions are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov). Palmetto Bancshares does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.


For More Information Contact:
Cynthia Jamison-Brashier,
864-250-6061
cjamison@palmettobank.com

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