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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
L. Leon Patterson
SSN ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF 5 SOLE VOTING POWER
SHARES 257,673 (includes 12,000 fully
BENEFICIALLY exercisable stock options that expire
OWNED BY in December, 1997)
EACH
REPORTING
PERSON
WITH
6 SHARED VOTING POWER
21,000 (owned individually by
Mr. Patterson's wife)
7 SOLE DISPOSITIVE POWER
257,673 (includes 12,000 fully
exercisable stock options that expire in
December, 1997)
8 SHARED DISPOSITIVE POWER
21,000 (owned individually by
Mr. Patterson's wife)
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
257,673 (includes 12,000 fully exercisable stock options that expire
in December, 1997)
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [X]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.5%
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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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 person filing this Statement on Schedule 13G (this
"Statement") is L. Leon Patterson, Chief Executive Officer of
the Company.
Item 2(b). Address of Principal Business Office:
Mr. Patterson maintains his principal business address at the
executive offices of the Company.
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)
/s/ L. Leon Patterson
(Signature)
L. Leon Patterson, CEO
(Name/Title)
