Bank Holds Prom Dress Collection Drive

February 23, 2010

SPARTANBURG COUNTY – In partnership with The Middle Tyger Community Center & Upstate Family Resource Center, The Palmetto Bank is collecting new or gently used prom dresses, shoes, and handbags for girls who might not otherwise be able to attend this year’s prom. The Middle Tyger Community Center & Upstate Family Resource Center will distribute dresses to girls from District 5, Boiling Springs, Chapman, and Chesnee High Schools.

Anyone interested in participating can contact The Palmetto Bank, Middle Tyger Community Center and Upstate Family Resource Center.

You can drop off your donated gowns at the following Palmetto Bank locations:

The Palmetto Bank, Duncan, 108 Main Street, Duncan, 439-4976

The Palmetto Bank, Boiling Springs, 3995 Highway 9, Boiling Springs, 599-9940

The Palmetto Bank, Inman, 11500 Asheville Highway, Inman, SC, 472-5300

The collection drive runs until March 22nd.

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 $1.4 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.

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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