UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

~~Pursuant~~SECURITIES EXCHANGE toACT ~~Section 13~~OF or1934 ~~15(d) of the~~

~~Securities~~Date ~~Exchange~~of ~~Act~~Report (Date of ~~1934~~earliest event reported): September 1, 2015

~~Date of Report (Date of earliest event reported): August 19~~PALMETTO BANCSHARES, ~~2015~~ INC.

Palmetto Bancshares, Inc.

(Exact name of registrant as specified in its charter)

South Carolina	No. 0-26016	No. 74-2235055
State or other jurisdiction of incorporation	Commission File Number	IRS Employer I.D. number
(State or other jurisdiction of	(Commission File Number)	(IRS Employer
incorporation)		Identification No.)

306 East North Street, Greenville, South Carolina	29601
Address of principal executive offices	Zip Code

306 East North Street

~~800.725.2265~~Greenville, South Carolina 29601

~~Registrant’s~~(Address ~~telephone~~of ~~number~~principal executive offices)

~~N/A~~Registrant’s telephone number, including area code:

(~~Former Name or Former Address, if Changed Since Last Report~~800) 725-2265

~~Check~~Not the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): applicable

~~Written~~(Former ~~communications~~name ~~pursuant~~or toformer ~~Rule~~address, ~~425~~if ~~under~~changed since ~~the~~last ~~Securities Act (17 CFR 230.425~~report)

~~Soliciting~~Check ~~material~~the ~~pursuant~~appropriate tobox ~~Rule~~below ~~14a~~if the Form 8-12K ~~under~~filing is intended to simultaneously satisfy the ~~Exchange~~filing ~~Act~~obligation ~~(17~~of ~~CFR~~the ~~240.14a-12)~~registrant under any of the following provisions:

~~Pre-commencement~~¨ Written communications pursuant to Rule ~~14d-2(b)~~425 under the ~~Exchange~~Securities Act (17 CFR ~~240~~230.~~14d-2(b~~425))

~~Pre-commencement~~¨ ~~communications~~Soliciting material pursuant to Rule ~~13e~~14a-~~4(c)~~12 under the Exchange Act (17 CFR 240.~~13e~~14a-~~4(c~~12))

~~SECTION~~¨ 8Pre-commencement –communications ~~OTHER~~pursuant ~~EVENTS~~to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

~~Item~~¨ ~~8.01.~~Pre-commencement ~~Other~~communications ~~Events~~pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

AsItem ~~previously reported, on August 12, 2015, Palmetto Bancshares, Inc~~2.01 ~~(the~~Completion ~~“Company”) held a special meeting~~ of ~~its~~Acquisition ~~shareholders~~or ~~pursuant~~Disposition ~~to which the shareholders approved, among other things, the Agreement and Plan~~ of ~~Merger (the “Merger Agreement”), dated as of April 22, 2015, by and between United Community Banks, Inc~~Assets. ~~(“United”) and the Company, under which the Company will merge with and into United.~~

~~Under~~On ~~the~~September ~~terms~~1, of2015, ~~the~~United Community ~~Merger Agreement~~Banks, ~~the~~Inc. ~~Company’s~~(“United”), ~~shareholders will have~~ the ~~right~~bank toholding ~~receive~~company ~~$19.25~~for ~~in cash or 0.97 shares of~~ United ~~common~~Community ~~stock~~Bank, orcompleted ~~any~~its ~~combination~~acquisition ~~thereof,~~by merger ~~for each~~ of ~~the~~Palmetto 12Bancshares,~~813,358~~ ~~shares~~Inc. of (the “Company’s”), ~~common~~the ~~stock~~bank ~~outstanding.~~holding ~~The~~company ~~cash~~for ~~and~~The ~~stock~~Palmetto ~~elections~~Bank ~~are~~(the ~~subject~~“Merger”). The toCompany ~~proration~~merged towith ~~ensure~~and ~~that~~into ~~30%~~United, ofwith ~~the~~United ~~outstanding~~as ~~shares of~~ the ~~Company’s~~surviving ~~common~~entity. ~~stock~~The ~~will~~Merger bewas ~~exchanged~~completed ~~for~~pursuant ~~cash~~to an Agreement and ~~70%~~Plan of ~~the~~Merger ~~outstanding~~dated ~~shares~~as of ~~the~~April ~~Company’s~~22, ~~common~~2015 ~~stock will be exchanged for shares of United common stock in~~ (the ~~merger.~~“Merger Agreement”).

~~Based~~Upon onthe ~~currently~~closing ~~available~~of the ~~information~~Merger, each outstanding share of the ~~preliminary~~Company’s common stock, other than shares held by the Company, United or any of their respective wholly owned subsidiaries, was converted into the right to receive 0.97 shares of United’s common stock or $19.25 in cash, or a combination thereof. Pursuant to the terms of the Merger Agreement, the total merger consideration was prorated to ensure that 30% of the total outstanding shares of the Company’s common stock was exchanged for cash and 70% of the total outstanding shares of the Company’s common stock was exchanged for shares of United common stock in the Merger. Based on the merger consideration election results, ~~were~~the asstock ~~follows:~~option was oversubscribed. Therefore, for each share of Company common stock that a shareholder of the Company elected to convert into United common stock, such shareholder will receive 25.685315% of the merger consideration for such share in cash and 74.314685% of the merger consideration for such share in United common stock.

●The 12foregoing description of the Merger and the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement,~~071,103~~ ~~outstanding~~which ~~shares~~is ofattached as Exhibit 2.1 to the Company’s ~~common~~Form ~~stock~~8-K, orfiled ~~94.21%~~with ofthe ~~such~~Securities ~~stock,~~and ~~elected~~Exchange Commission to(the ~~receive~~“SEC”) ~~stock~~on ~~consideration;~~April 22, 2015.

●Item ~~309,022~~3.01 ~~outstanding~~Notice ~~shares~~ of ~~the~~Delisting ~~Company’s common stock,~~ or ~~2.41%~~Failure ofto ~~such~~Satisfy ~~stock,~~a ~~elected~~Continued toListing ~~receive~~Rule ~~cash~~or ~~consideration~~Standard; ~~and~~Transfer of Listing.

●On ~~433~~August 31,~~233~~ ~~outstanding~~2015, ~~shares~~the Company notified NASDAQ Stock Market LLC (“Nasdaq”) that the Merger would be effective at 12:01 a.m. on September 1, 2015. After the close of trading on August 31, 2015, Nasdaq filed with the SEC an application on Form 25 to remove the Company’s common stock from listing on Nasdaq and withdraw the registration of the Company’s common stock under Section 12(b) of the Securities and Exchange Act of 1934, oras 3amended.~~38%~~ In connection with the completion of ~~such~~the Merger, trading of the Company’s common stock on Nasdaq ceased before the opening of trading on September 1, ~~failed~~2015. toThe ~~make~~information aset ~~valid~~forth ~~election~~in Item 2.01 of this Current Report on Form 8-K is incorporated by reference herein.

~~Based~~Item on3.03 ~~such~~Material ~~preliminary~~Modifications ~~results, because the stock option is expected~~ to beRights ~~oversubscribed, the consideration to be received by the holders who elected stock is expected to be prorated pursuant to the terms set forth in the Merger Agreement. The final allocation~~ of ~~merger~~Security ~~consideration will be calculated in accordance with the terms of the Merger Agreement~~Holders.

~~The~~Upon ~~parties~~the ~~expect~~completion of the Merger, outstanding shares of the Company’s common stock (other than shares held by the Company, United, or any of their respective wholly owned subsidiaries) were converted into the right to ~~close~~receive 0.97 shares of United’s common stock or $19.25 in cash, or a combination thereof. As described in the ~~transaction~~Company’s Current Report on ~~September~~Form 18-K filed August 12, 2015, ~~subject~~the toMerger and the ~~satisfaction~~Merger Agreement were approved by the Company’s shareholders at the special meeting of ~~customary~~shareholders ~~closing~~held ~~conditions~~on August 12, 2015. The information set forth in Item 2.01 of this Current Report on Form 8-K is incorporated by reference herein.

~~Caution~~Item ~~About~~5.01 ~~Forward-Looking~~Changes ~~Statements~~in Control of Registrant.

~~This~~Upon ~~Current~~the ~~Report~~completion onof ~~Form~~the ~~8-K~~Merger on ~~contains~~September ~~forward-looking~~1, ~~statements~~2015, asthe ~~defined~~Company bymerged ~~federal~~with ~~securities~~and ~~laws.~~into ~~These~~United ~~statements are based on current expectations~~ and, ~~are~~accordingly, ~~provided~~a tochange ~~assist~~ in ~~the~~control ~~understanding~~ of ~~future~~the ~~financial~~Company ~~performance~~occurred. ~~Such~~The information ~~performance~~set ~~involves~~forth ~~risks and uncertainties that may cause actual results to differ materially from those expressed or implied~~ in ~~any such statements~~Item 2.01 ~~For a discussion~~ of ~~some~~this of the risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to United’s and the Company’s filings with the Securities and Exchange Commission including each company’s respective Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current ~~Reports~~Report on Form 8-K. ~~Forward-looking~~is ~~statements~~incorporated ~~speak~~by ~~only~~reference ~~as of the date they are made, and neither United nor Palmetto undertakes any obligation to update or revise forward-looking statements~~herein.

About Palmetto Bancshares, Inc.

Palmetto Bancshares, Inc. (NASDAQ: PLMT) is a 108-year old community bank and is the third largest banking institution headquartered in South Carolina. The Palmetto Bank has assets of $1.2 billion and serves Upstate South Carolina through 25 branch locations in nine counties along the economically attractive I-85 corridor, as well as 24/7/365 service through online and mobile banking, ATMs and telephone. The bank has a unique understanding of the Upstate market and delivers local decision making with greater responsiveness. Through its Retail, Commercial and Wealth Management lines of business, the bank specializes in providing financial solutions to consumers and small to mid-size businesses with deposit and cash management products, loans (including consumer, mortgage, credit card, automobile, Small Business Administration, commercial, and corporate), lines of credit, trust, brokerage, private banking, financial planning and insurance. The bank provides solutions that improve the client experience by providing clients the ability to bank whenever they want, wherever they want. Additional information may be found at the bank’s website at www.palmettobank.com.

About United Community Banks, Inc.

United Community Banks, Inc. is a bank holding company based in Blairsville, Georgia, with $8.2 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the Southeast’s largest full-service banks, operating 114 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in personalized community banking services for individuals, small businesses and corporations. The bank offers a full range of consumer and commercial banking services including mortgage, advisory, treasury management and other products. In 2014 and 2015, the bank was ranked first in customer satisfaction in the southeast by J.D. Power and in 2015 was ranked fourteenth on the Forbes list of America’s Best Banks. Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

~~PALMETTO~~UNITED ~~BANCSHARES~~COMMUNITY BANKS, INC., successor to Palmetto Bancshares, Inc. By: /s/ Rex S. Schuette Rex S. Schuette Executive Vice President and Chief Financial Officer

ByDate: September 4, 2015

/S/ Roy D. Jones Roy D. Jones Chief Financial Officer and Treasurer

Date: August 19, 2015

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