Press Release: The Palmetto Bank : PALMETTO BANCSHARES, INC. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Palmetto Bancshares, Inc. Over the Proposed Sale of the Company to United Community Banks, Inc. - PLMT

NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Palmetto Bancshares, Inc. ("Palmetto" or the "Company") (NASDAQ:PLMT) for potential breaches of fiduciary duties in connection with the sale of the Company to United Community Banks, Inc. ("United Community Banks") (NASDAQ:UCBI) for approximately $248.3 million in a cash or stock transaction. The Compa