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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
706874	Palmetto Bancshares Inc	PLMT	State Commercial Banks (6022)	742235055

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1203115	M Ira Lubert	Cira Centre 2929 Arch Street Philadelphia PA 19104-2868		No	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.01	Acquisiton	2011-02-02	728,052	$2.60	9,674,429	No	4	P	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnotes

Footnotes

On February 2, 2011, Patriot Financial Partners, LP ("Patriot") and Patriot Financial Partners Parallel, LP ("Patriot Parallel), each agreed to purchase an additional shares of common stock, par value $0.01 per share (the "Common Stock") of Palmetto Bancshares, Inc. (the "Issuer"). Patriot agreed to purchase 620,808 shares of Common Stock for an aggregate purchase price of $1,614,101 and Patriot Parallel agreed to purchase 107,244 shares of Common Stock for an aggregate purchase price of $278,834.
Mr. Lubert is a managing partner of Patriot Financial Partners GP, LLC, which is the general partner of Patriot Financial Partners, GP, L.P., which in turn is the general partner of each of Patriot and Patriot Parallel and as such may be deemed to be the indirect beneficial owner of such shares under Rule 16a-1(a)(2) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Pursuant to Rule 16a-1(a)(4) promulgated under the Exchange Act, Mr. Lubert disclaims that he is the beneficial owner of such shares, except to the extent of his pecuniary interest.