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A unit of Palmetto Bancshares in Greenville, S.C., has shed an enforcement order with the Federal Deposit Insurance Corp.
February 4 -
Palmetto Bancshares in Greenville, S.C., is shedding more than $40 million of problem loans as part of its ongoing effort to clean up its balance sheet and return to profitability.
June 21 -
The number of community banks under enforcement actions fell in January, as the Federal Deposit Insurance Corp. ended 16 orders and issued five on the month.
February 22
Palmetto Bancshares (PLMT) in Greenville, S.C., is combining its chairman and chief executive roles.
The board of the $1.1 billion-asset company elected CEO Samuel Erwin to become chairman on Jan. 1. He will succeed Michael Glenn, who will remain a director.
Palmetto also appointed Robert Goldstein, who is already on the board, to become its independent lead director starting next year. The company did not previously have an independent lead director.
Palmetto's board split the roles of CEO and chairman in 2010 to allow the CEO to focus on "issues related to asset quality, earnings, liquidity" and to address a consent order with the Federal Deposit Insurance Corp., the company said in a
With the 2010 split, Erwin was named CEO, and former CEO Leon Patterson remained chairman. Glenn, who had been lead independent director, became chairman when Patterson retired at the end of 2011.
Palmettoe has
