0000706874-15-000004.txt : 20150903
0000706874-15-000004.hdr.sgml : 20150903
20150903141317
ACCESSION NUMBER: 0000706874-15-000004
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20150901
FILED AS OF DATE: 20150903
DATE AS OF CHANGE: 20150903
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: PALMETTO BANCSHARES INC
CENTRAL INDEX KEY: 0000706874
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
IRS NUMBER: 742235055
STATE OF INCORPORATION: SC
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 306 EAST NORTH STREET
CITY: GREENVILLE
STATE: SC
ZIP: 29601
BUSINESS PHONE: 864-250-6050
MAIL ADDRESS:
STREET 1: 306 EAST NORTH STREET
CITY: GREENVILLE
STATE: SC
ZIP: 29601
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: LYNCH JAMES J
CENTRAL INDEX KEY: 0001222379
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35282
FILM NUMBER: 151091624
MAIL ADDRESS:
STREET 1: PATRIOT FINANCIAL PARTNERS, LP
STREET 2: 2929 ARCH STREET, 27TH FLOOR
CITY: PHILADELPHIA
STATE: PA
ZIP: 19104
4
1
primary_doc.xml
PRIMARY DOCUMENT
X0306
4
2015-09-01
1
0000706874
PALMETTO BANCSHARES INC
PLMT
0001222379
LYNCH JAMES J
PATRIOT FINANCIAL PARTNERS, LP
2929 ARCH STREET, 27TH FLOOR
PHILADELPHIA
PA
19104
1
0
0
0
Common Stock, $0.01 par value
2015-09-01
4
D
0
598
D
0
D
Common Stock, $0.01 par value
2015-09-01
4
D
0
2453360
D
0
I
See Footnotes
Under the Agreement and Plan of Merger ("Merger Agreement"), dated April 22, 2015, between United Community Banks, Inc. ("United") and Palmetto Bancshares, Inc. ("Palmetto"), the holder has the right to elect to receive consideration of either 0.97 shares of United common stock or $19.25 in cash for each Palmetto common share, subject to proration to ensure that, in the aggregate, 70% of Palmetto's common shares will be converted into United stock. No fractional shares of United common stock will be issued, and the cash in lieu amount will be determined by multiplying such fractional share amount by $21.15 (the calculation of which is defined in the Merger Agreement). As of the date of this Form 4, the calculations related to the election and proration procedures set forth in the Merger Agreement have not been received by the Reporting Person. Accordingly, it is not possible at this time to determine the form of merger consideration to be received by the Reporting Person.
Patriot Financial Partners, GP, L.P. ("Patriot GP") is the sole general partner of each of Patriot Financial Partners, L.P. and Patriot Financial Partners Parallel, L.P. (together, the "Funds"). Accordingly, securities owned by the Funds may be regarded as being beneficially owned by Patriot GP. Patriot Financial Partners GP, LLC ("Patriot LLC") is the general partner of Patriot GP. Accordingly, securities owned or deemed to be owned by Patriot GP may be regarded as being beneficially owned by Patriot LLC. Mr. Lynch is a general partner of Patriot GP and a member of Patriot LLC.
Mr. Lynch, the Funds and the related entities disclaim beneficially ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that they are a beneficial owner of such securities for the purposes of Section 16.
Lauren S Greer, with POA, Director of Accounting and Finance, The Palmetto Bank, a wholly-owned subsidiary of Palmetto Bancshares, Inc.
2015-09-03