Portrait of Lynne MonroeGREENVILLE, S.C. – The Palmetto Bank announced the hiring of Lynne C. Monroe as Assistant Vice President, Branch Manager of its Spartan Centre Branch located in downtown Spartanburg.

Lynne Monroe is a graduate of Limestone College with over 22 years of experience in retail banking, small business lending, and business development.

Monroe is a lifelong resident of Spartanburg County. She is a member of Lions Club International and Business Networking International.

“We are pleased to have Lynne join our team at The Palmetto Bank,” said Rob Hrubala, Retail Regional Executive. “Lynne’s experience in the Spartanburg community will help us continue to provide our clients with outstanding service and financial solutions.”

The Spartan Centre manager position became available in October when Vic Cordone, the prior branch manager, was promoted to Vice President, Treasury Services. Cordone shared, “I had the pleasure to work with Lynne during the transition period and quickly noticed her passion for client service, which is highly important.”

Headquartered in Greenville, South Carolina, The Palmetto Bank is a 105-year old independent state-chartered commercial bank and is the fourth-largest banking institution headquartered in South Carolina. The Palmetto Bank has assets of $1.2 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 Banking (including Mortgage and Credit Cards), Commercial Banking (including Business Banking, Treasury Management and Merchant Services), and Wealth Management (including Trust, Brokerage, Financial Planning, and Insurance). Additional information may be found at the company’s website at www.palmettobank.com or Facebook.

This News Release contains financial information determined by methods other than in accordance with Generally Accepted Accounting Principles (“GAAP”). This News Release discusses both GAAP net loss and pre-tax loss excluding credit-related items and certain gains and losses, which is a non-GAAP measure. We believe that such non-GAAP measures are useful because they enhance the ability of investors and management to evaluate and compare the Company’s operating results from period to period in a meaningful manner. Non-GAAP measures should not be considered as an alternative to any measure of performance as promulgated under GAAP. Investors should consider the Company’s recording of provision for loan losses, loan workout expenses, foreclosed real estate writedowns and expenses and losses on commercial loans held for sale in the fourth quarter of 2010 and the first, second and third quarters of 2011 when assessing the performance of the Company. In addition, investors should consider the gain on sale of the Company’s credit card portfolio in the fourth quarter of 2010 when assessing the performance of the Company. Non-GAAP measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP.