ATM Deposits Whenever You Want… No Deposit Envelope or Deposit Slips Needed

GREENVILLE, S.C. – The Palmetto Bank (the “Bank”), a wholly-owned subsidiary of Palmetto Bancshares, Inc. (NASDAQ: PLMT), launched three new deposit accepting ATMs. Bank clients now have the added convenience of making deposits at these selected Bank ATMs whenever they want, and with the additional benefit of not requiring a deposit envelope or deposit slip. The locations include:

  • 470 Haywood Road, Greenville, SC 29607 (near Haywood Mall)
  • 809 W. Wade Hampton Blvd., Greer, SC 29651 (near Belks)
  • Cato, Highway 76, Laurens, SC 29360 (near Walmart)

“It is rewarding to provide our clients a faster and more efficient way to bank with us,” said Samuel L. Erwin, President and Chief Executive Officer. “In addition, we are reducing paper waste which has a positive impact on the environment.”

For cash deposits, the ATM sorts and counts the bills, verifies the amount and prints the denominations deposited on the receipt. For checks, clients have the option to receive an image of the deposited checks on the back of the ATM receipt. In addition to our deposit accepting ATMs, Bank clients also have the convenience of making deposits in the night drop box at each of our 25 branch locations.

The launch of the deposit accepting ATMs is the most recent technology enhancement implemented by The Palmetto Bank this year. Other enhancements for consumers include upgraded online banking and automatic telephone voice response service, mobile banking via cell phone, and enhanced deposit and trust statements with the ability to opt-in to e-statements. For businesses, the Bank also implemented enhanced remote deposit capture and wire transfer services, as well as a dedicated eTreasury call center for client service.

The Palmetto Bank has been providing local and innovative banking services to clients for over 106 years. “Going forward, we will continue our commitment to technology enhancements as a critical part of our overall strategy to enhance the client experience,” continued Erwin. “In 2013, we plan to add more deposit accepting ATMs, new personal financial management online tools, person-to-person payment solutions and a more functional and interactive website.”

About The Palmetto Bank

Headquartered in Greenville, South Carolina, The Palmetto Bank is a 106-year old independent state-chartered commercial bank and is the fourth largest banking institution headquartered in South Carolina. The Palmetto Bank has assets of $1.1 billion and serves the Upstate through 25 branch locations in the nine counties of Abbeville, Anderson, Cherokee, Greenville, Greenwood, Laurens, Oconee, Pickens, and Spartanburg. The Bank specializes in providing personalized community banking services to individuals and small to mid-size businesses including Retail Banking (including Mortgage, Credit Cards and Indirect Auto), Commercial Banking (including Small Business Administration loans, Business Banking, Corporate Banking, Treasury Management and Merchant Services), and Wealth Management (including Trust, Investments, Financial Planning, and Insurance). Additional information may be found at the Company’s web site at www.palmettobank.com or Facebook.