Strengthens Commitment to SBA Program with Addition of Leading Producer in South Carolina Points

Portrait of Paul PickhardtGREENVILLE, S.C.– The Palmetto Bank, a wholly-owned subsidiary of Palmetto Bancshares, Inc. (NASDAQ: PLMT), announced today that Paul Pickhardt has joined the Bank to lead its Small Business Administration (SBA) line of business. Mr. Pickhardt has a wealth of experience in the industry with a proven track record of SBA program business development, originations and packaging.

Pickhardt comes to The Palmetto Bank from another financial institution, where he was the top SBA 7a loan producer in the state of South Carolina for the past four years. He possesses over 11 years of experience of SBA marketing, selling and originating that followed a career in which he held several management positions in the manufacturing industry. In addition to previous involvement with the Greenville Area Chamber of Commerce, he was an advisor for Upstate SCORE and was on the advisory board for the Small Business Development Center (SBDC). Mr. Pickhardt is a Vietnam Veteran who honorably served his country as a Captain in the U.S. Army.

Coleman Kirven, Commercial Banking Executive at The Palmetto Bank, said, “The addition of Paul to our diversified Commercial Bank line of business positions us to expand our SBA platform that we began in early 2012. Paul brings a unique blend of SBA specific expertise for our clients along with the real world experience of working in several private companies during his career. ”

Mr. Pickhardt stated, “This is a special opportunity to work with a team that is focused on clients and the communities in the Upstate of South Carolina. I am a dedicated and active advocate for small businesses given their substantial impact to our economy, and I look forward to helping clients of The Palmetto Bank achieve their goals.”

“I am excited about Paul’s arrival and look forward to providing our clients and communities with access to this valuable resource as part of our overall Commercial Banking line of business that also includes commercial and corporate banking,” said Kirven.

About The Palmetto Bank:
Headquartered in Greenville, South Carolina, The Palmetto Bank is a 106-year old state-chartered community bank and is the third 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, private banking, 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.