Adds experienced banker to serve high net worth clients

GREENVILLE, S.C. – The Palmetto Bank (the “Bank”), a wholly-owned subsidiary of Palmetto Bancshares, Inc. (NASDAQ: PLMT), is building on its recently announced expanded Wealth Management strategy through the addition of Private Banking to meet the banking needs of high net worth clients. Sharon Whitney, an experienced banker with over thirty years of Private Banking experience, will lead the Bank’s Private Banking efforts.

“Private Banking is a service in demand by business owners, professionals and other high net worth individuals who value personalized financial services, expertise and extra touch” stated Samuel L. Erwin, President and Chief Executive Officer. “The continued expansion of our Wealth Management strategy is the latest step in our focus on the Client Experience. Under Sharon’s leadership, our new Private Banking offering will place further emphasis on providing investment advice and services to our clients in the Upstate.”

Ms. Whitney has extensive experience and an excellent reputation serving high net worth clients in the Upstate of South Carolina. For the past eleven years, Ms. Whitney was employed in Greenville, South Carolina in a similar role with a large regional bank that became part of a global institution. She is a current or previous director of multiple local community and civic organizations including the YWCA, Professional Womens Group, Greenville Health System Campus Advisory Board, Roper Mountain Science Center, Greenville Medical Society and United Way Women in Banking. Ms. Whitney is a graduate of Penn State/Behrend College and holds the Certified Financial Planner (CFP) designation. “We are thrilled to have someone of Sharon’s caliber on our team to serve our clients,” continued Erwin.

The addition of Private Banking is part of The Palmetto Bank’s comprehensive Wealth Management services. In April the Bank announced an expanded Wealth Management strategy to provide enhanced financial advisory services to its clients. As part of the strategy, the Bank entered into separate agreements with Thomasville National Bank (“TNB”) and Investment Professionals, Inc. (“IPI”) to enhance the delivery of trust and brokerage services, respectively. Through TNB, during May the Bank announced the addition of George Campbell, Market President, Bill Boswell, Chief Fiduciary Officer, and Scott Cheney, Trust Assistant, to the Trust team. In addition, through IPI the Bank is currently recruiting for two new Financial Advisors.

“Wealth Management is a growth strategy for us,” added Erwin. “Given the current and expected economic and population growth in the Upstate, there is a clear opportunity for a locally-headquartered institution with a 106 year legacy to serve clients in meeting their investment needs. We are excited about providing the expertise and personal service these clients expect.”

About The Palmetto Bank
Headquartered in Greenville, South Carolina, The Palmetto Bank is a 106-year old state-chartered community 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 nine counties of the Upstate of South Carolina, as well as 24/7/365 service through online and mobile banking and ATMs. The Bank has a unique understanding of the Upstate market and delivers local decision making with greater responsiveness to clients. Through its Retail, Commercial and Wealth Management lines of business, the Bank specializes in providing financial solutions to consumers and small to mid-size businesses with deposit and cash management products, loans (including consumer, Small Business Administration, commercial, corporate, mortgage, credit card and automobile), lines of credit, trust, brokerage, financial planning and insurance. Recently recognized by several international publications for innovative client solutions, the Bank provides technology solutions that improve the client experience by providing clients the ability to bank whenever they want, wherever they want. Additional information may be found at the Bank’s website at palmettobank.com or on Facebook.

The Palmetto Bank Contact:
Ana Miles
864.250.6063
amiles@palmettobank.com