<ARTICLE> 9
<LEGEND>
The schedule contains summary financial information extracted from
Palmetto Bancshares, Inc. and subsidiary Consolidated Statements
of Operations and Consolidated Statements of Financial Condition
and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                          16,606
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                12,497
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     22,582
<INVESTMENTS-CARRYING>                          73,232
<INVESTMENTS-MARKET>                            72,645
<LOANS>                                        334,837
<ALLOWANCE>                                    (4,819)
<TOTAL-ASSETS>                                 483,791
<DEPOSITS>                                     428,373
<SHORT-TERM>                                    20,324
<LIABILITIES-OTHER>                              2,454
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        15,255
<OTHER-SE>                                      13,355
<TOTAL-LIABILITIES-AND-EQUITY>                 483,791
<INTEREST-LOAN>                                  7,541
<INTEREST-INVEST>                                1,288
<INTEREST-OTHER>                                    54
<INTEREST-TOTAL>                                 8,883
<INTEREST-DEPOSIT>                               3,518
<INTEREST-EXPENSE>                               3,757
<INTEREST-INCOME-NET>                            5,126
<LOAN-LOSSES>                                      300
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                  4,358
<INCOME-PRETAX>                                  1,860
<INCOME-PRE-EXTRAORDINARY>                       1,352
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,352
<EPS-PRIMARY>                                     0.23
<EPS-DILUTED>                                     0.00
<YIELD-ACTUAL>                                    4.80
<LOANS-NON>                                      1,395
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 4,729
<CHARGE-OFFS>                                    (225)
<RECOVERIES>                                        15
<ALLOWANCE-CLOSE>                                4,819
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0