SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Palmetto Bancshares, Inc.
(Name of Issuer)
Common Stock, par value $5.00 per share
(Title of Class of Securities)
None
(CUSIP Number)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP NO. NONE
- --------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Palmetto Bank
Trustee for the Employee Stock Ownership Plan
EIN: 74-2235055
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
South Carolina
NUMBER OF 5 SOLE VOTING POWER
SHARES 266,069
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
6 SHARED VOTING POWER
0
7 SOLE DISPOSITIVE POWER
266,069
8 SHARED DISPOSITIVE POWER
0
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
266,069
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.8%
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
EP, BK
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Page 2 of 3
Item 1(a). Name of Issuer:
Palmetto Bancshares, Inc. (the "Company").
Item 1(b). Address of Issuer's Principal Executive Offices:
The Company's principal executive offices are located at 101
West Main Street, Laurens, South Carolina, 29360.
Item 2(a). Name of Person Filing:
The entity filing this Statement on Schedule 13G (this
"Statement") is The Palmetto Bank (the "Bank"), Trustee for
the Employee Stock Ownership Plan of the Company. The Bank
is duly incorporated under the laws of the State of South
Carolina.
Item 2(b). Address of Principal Business Office:
The Bank maintains its principal business address at 101 West
Main Street, Laurens, South Carolina 29360.
Item 2(c). Citizenship:
See cover page, Item 4.
Item 2(d). Title of Class of Securities:
Company Common Stock, par value $5.00 per share.
Item 2(e). CUSIP Number:
None.
Item 3. Not Applicable. This Statement is not filed pursuant to
Rules 13d-1(b) or 13d-2(b).
Item 4. Ownership.
(a)-(c) See cover page, Items 5-11.
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certification.
Not Applicable. This Statement is not filed pursuant to Rule
13d-1(b).
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
February 14, 1997
(Date)
BY: The Palmetto Bank, as
Trustee for the Employee
Stock Ownership Plan
/s/ L. Leon Patterson
(Signature)
L. Leon Patterson, CEO
(Name/Title)
