Greenville, S.C. – Samuel L. (Sam) Erwin has been named Chief Executive Officer and President of The Palmetto Bank and Lee S. Dixon has been named Chief Operating Officer. In addition, Andy Douglas has assumed the role of Vice Chairman, Retail Banking, and will continue overseeing the 29 branches of the Bank, while Leon Patterson assumes the additional role of Chairman of the Board of the Bank. All of these roles were effective July 1, 2009.

Portrait of Sam ErwinErwin, a Greenwood County native and cum laude graduate of Clemson University, has more than 19 years of banking experience, the past 11 as a senior executive. He most recently served as Chief Executive Officer of Community Bankshares, Inc. in Orangeburg where he led the consolidation of four banks and a mortgage company into one unified bank. In particular, through his work resolving significant credit-related issues at Community Bankshares, he is recognized as an expert in asset quality issues and loan resolution management. In addition, he has significant experience implementing new strategic plans including long-term vision and growth strategies. Erwin was recognized as one of the “Top 20 under 40” by The State newspaper in 2004 and was named Outstanding Young Banker in 2005 by the S.C. Bankers Association.

“It is a challenging and exciting time to be in banking,” Erwin said. “The banking industry as a whole – including The Palmetto Bank – has tremendous challenges ahead of us, but we will face them head on as we always have. The Palmetto Bank has a very strong and experienced senior management team well equipped to handle the current issues that banks are dealing with. I’m very honored and excited to be leading an independent bank in my home state with a 102 year history of investing in our local communities and serving our customers with a broad variety of products and services.”

Portrait of Lee DixonDixon, a Laurens County native, brings 21 years of business experience to The Palmetto Bank, including 17 years of bank accounting and consulting expertise. He is a Certified Public Accountant and was admitted as a partner in the Banking and Capital Markets practice of PricewaterhouseCoopers LLP in 1999. At PricewaterhouseCoopers, he worked with many of the largest banks in the country as well as numerous community banks and finance companies. Dixon is a magna cum laude graduate in accounting and finance from the University of South Carolina and a graduate with distinction from the Stonier Graduate School of Banking. He is recognized as a financial services industry expert with significant experience in risk management and higher risk, complex financial institutions.

“Having passed the $2 billion mark in managed assets, The Palmetto Bank is focused on enhancing its overall risk management approach and infrastructure to continue to adapt to the continuously changing financial services landscape,” Dixon said. “This focus is particularly important given the challenges facing the banking industry in the current environment. No bank is immune to the impact from the current recession, and like most banks we are working hard to address the issues in the current environment related to credit quality, liquidity, earnings and capital.”

Celebrating more than 102 years of service in the Upstate, The Palmetto Bank (www.palmettobank.com) manages $2.2 billion in assets including Commercial and Consumer Banking, Trust, Brokerage and Mortgage Servicing. The Palmetto Bank is the fifth largest independent state-chartered commercial bank in South Carolina with 29 locations throughout the Upstate counties of Abbeville, Anderson, Cherokee, Greenville, Greenwood, Laurens, Oconee, Pickens, Spartanburg and York.