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<H5 align="left" style="page-break-before:always"><A HREF="#G25969toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Registration No.&nbsp;333-&#95;&#95;&#95;&#95;&#95;&#95;&#95;
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt; margin-top: 3pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Park Sterling Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD align="center" valign="bottom"><B>North Carolina</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1043 E. Morehead Street, Suite&nbsp;201<BR>
Charlotte, North Carolina 28204</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom"><B>27-4107242</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of <BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Address of Principal Executive
Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Park Sterling Bank 2006 Employee Stock Option Plan<BR>
Park Sterling Bank 2006 Stock Option Plan for Directors<BR>
Park Sterling Bank 2010 Employee Stock Option Plan<BR>
Park Sterling Bank 2010 Stock Option Plan for Directors<BR>
Park Sterling Corporation 2010 Long-Term Incentive Plan<BR>
(Full title of the plan)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>James C. Cherry<BR>
Chief Executive Officer<BR>
Park Sterling Corporation<BR>
1043 E. Morehead Street, Suite&nbsp;201<BR>
Charlotte, North Carolina 28204<BR>
(Name and address of agent for service)<BR><BR>

(704)&nbsp;716-2134</B><BR>
(Telephone number, including area code, of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Copies to:<BR>
Anne T. Kelly<BR>
McGuireWoods LLP<BR>
201 North Tryon Street<BR>
Charlotte, North Carolina 28202</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large
accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the
Exchange Act.:
</DIV>


<TABLE width="100%" style="FONT-size: 10pt; margin-top: 0pt">
<TR valign="Top"><TD>Large accelerated filer&nbsp;<FONT style="font-family: Wingdings">&#111;</FONT></TD>
<TD align="center">Accelerated filer&nbsp;<FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;</TD>
<TD align="center">Non-accelerated filer&nbsp;<FONT style="font-family: Wingdings">&#111;</FONT>
<BR>(Do not check if a smaller reporting company)</TD>
<TD align="right">Smaller reporting company&nbsp;<FONT style="font-family: Wingdings">&#254;</FONT></TD>
</TR></TABLE>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B></DIV>

<DIV align="center">
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    <TD width="2%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of securities to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price per</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be registered (1)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>share (2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate offering price (2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration fee (2)</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, $1.00 par value</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-top: 2px solid #000000">3,340,032 shares</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">5.54</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">18,503,778</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">2,149</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>



<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>The 3,340,032 shares of Common Stock registered hereunder are allocated to each of the Plans as follows:
(i)&nbsp;Park Sterling Bank 2006 Employee Stock Option Plan &#151; 460,361 shares; (ii)&nbsp;Park Sterling
Bank 2006 Stock Option Plan for Directors &#151; 343,291 shares; (iii)&nbsp;Park Sterling Bank 2010 Employee
Stock Option Plan &#151; 1,350,195 shares; (iv)&nbsp;Park Sterling Bank 2010 Stock Option Plan for
Directors &#151; 169,785 shares; and (v)&nbsp;Park Sterling Corporation 2010 Long-Term Incentive Plan
&#151; 1,016,400 shares. Pursuant to Rule&nbsp;416 under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), this Registration Statement also covers any additional shares of Common
Stock that become issuable under the Plans by reason of any stock dividend, stock split
 or any other similar transaction.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Determined on the basis of the average of the high and low prices of the Common Stock
reported on The NASDAQ Global Market on January&nbsp;31, 2011 in accordance with Rule 457(c) under
the Securities Act, solely for the purpose of calculating the registration fee pursuant to
Rule 457(h) under the Securities Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">






<!-- TOC -->
<A name="G25969toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#G25969000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#G25969001">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#G25969002">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#G25969003">Item 4.Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#G25969004">Item 5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#G25969005">Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#G25969006">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#G25969007">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#G25969008">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#G25969009">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#G25969010">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="g25969exv4w3.htm">EX-4.3</A></TD></TR>
<TR><TD colspan="9"><A HREF="g25969exv4w4.htm">EX-4.4</A></TD></TR>
<TR><TD colspan="9"><A HREF="g25969exv5w1.htm">EX-5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="g25969exv23w2.htm">EX-23.2</A></TD></TR>
<TR><TD colspan="9"><A HREF="g25969exv24w1.htm">EX-24.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="g25969exv24w2.htm">EX-24.2</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#G25969toc">Table of Contents</A></H5><P>






<!-- link1 "PART I" -->
<DIV align="left"><A NAME="G25969000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I of Form S-8 will be sent or given
to participating employees as specified by Rule&nbsp;428(b)(1) of the Securities Act. These document(s)
and the documents incorporated by reference herein pursuant to Item&nbsp;3 of Part&nbsp;II hereof, taken
together, constitute a prospectus (the &#147;Prospectus&#148;) that meets the requirements of Section 10(a)
of the Securities Act.
</DIV>
<!-- link1 "PART II" -->
<DIV align="left"><A NAME="G25969001"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>
<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="G25969002"></A></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by the Registrant with the Securities and Exchange Commission
(the &#147;SEC&#148;) or filed by Park Sterling Bank (the &#147;Bank&#148;), with respect to which the Registrant is
the successor issuer, with the Federal Deposit Insurance Corporation (the &#147;FDIC&#148;), pursuant to the
Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), are incorporated by reference
herein and in the Prospectus constituting a part of this Registration Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
The Bank&#146;s Registration Statement on Form&nbsp;10, dated April
23, 2010, as amended by Amendment No.&nbsp;1 on Form
10/A, dated July 20, 2010;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Bank&#146;s Quarterly Reports on Form 10-Q for the quarters ended June&nbsp;30, 2010 and
September&nbsp;30, 2010;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Bank&#146;s Current Reports on Form 8-K filed August&nbsp;18, 2010, October&nbsp;26, 2010,
November&nbsp;15, 2010, and November&nbsp;24, 2010 (in each case, other than information that is
furnished but that is deemed not to have been filed);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Registrant&#146;s Current Reports on Form 8-K filed January&nbsp;3, 2011, January&nbsp;13,
2011, and January&nbsp;18, 2011 (in each case, other than information that is furnished but that
is deemed not to have been filed); and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The description of the Registrant&#146;s Common Stock that is contained in the
Registrant&#146;s Current Report on Form 8-K filed January&nbsp;13, 2011, or any other amendment or
report filed for the purpose of updating such description.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the Registrant with the SEC pursuant to Sections&nbsp;13(a),
13(c), 14 and 15(d) of the Exchange Act (other than any information that is furnished but that is
deemed not to have been filed) prior to the filing of a post-effective amendment hereto that either
indicates that all securities offered hereby have been sold or deregisters all securities then
remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and
the Prospectus and to be a part hereof from the date of filing of such documents. Any statement
contained in a document incorporated or deemed to be incorporated by reference herein shall be
deemed to be modified or superseded for purposes of this Registration Statement and the Prospectus
to the extent that a statement contained herein or in any other subsequently filed document that
also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant will provide without charge to each participant in the Plan, on the written or
oral request of any such person, a copy of any or all of the documents incorporated herein by
reference (other than exhibits to such documents which are not specifically incorporated by
reference in such documents). Written requests for such copies should be addressed to: Park
Sterling Corporation, 1043 E. Morehead Street, Suite&nbsp;201, Charlotte, North Carolina 28204.
Telephone requests may be directed to 704.716.2134.
</DIV>

<!-- link2 "Item 4.Description of Securities" -->
<DIV align="left"><A NAME="G25969003"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item 4.
Description of Securities.</B></Div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.</div>

<!-- link2 "Item 5. Interests of Named Experts and Counsel" -->
<DIV align="left"><A NAME="G25969004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item 5. Interests of Named Experts and Counsel.</B></div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.</div>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers." -->
<DIV align="left"><A NAME="G25969005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;55-8-50 through 55-8-58 of the North Carolina Business Corporation Act (the &#147;NCBCA&#148;)
contain provisions prescribing the extent to which directors and officers shall or may be
indemnified. Section&nbsp;55-8-51 of the NCBCA permits a corporation, with certain exceptions, to
indemnify a current or former director against liability if (i)&nbsp;he conducted himself in good faith,
(ii)&nbsp;he reasonably believed (x)&nbsp;in the case of conduct in his official capacity with the
corporation, that his conduct was in the best interests of the corporation and (y)&nbsp;in all other
cases his conduct was at least not opposed to the corporation&#146;s best interests and (iii)&nbsp;in the
case of any criminal proceeding, he had no reasonable cause to believe his conduct was unlawful. A
corporation may not indemnify a director in connection with a proceeding by or in the right of the
corporation in which the director was adjudged liable to the corporation or in connection with a
proceeding charging improper personal benefit to him, whether or not involving action in his
official capacity, in which he was adjudged liable on the basis that personal benefit was
improperly received by him. The above standard of conduct is determined by the disinterested
members of the board of directors or a committee thereof or special legal counsel or the
shareholders as prescribed in Section&nbsp;55-8-55.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;55-8-52 and 55-8-56 of the NCBCA require a corporation to indemnify a director or
officer in the defense of any proceeding to which he was a party because of his capacity as a
director or officer against reasonable expenses when he is wholly successful, on the merits or
otherwise, in his defense, unless the articles of incorporation provide otherwise. Upon
application, the court may order indemnification of the director or officer if the court determines
that he is entitled to mandatory indemnification under Section&nbsp;55-8-52, in which case the court
shall also order the corporation to pay the reasonable expenses incurred to obtain court-ordered
indemnification or if he is adjudged fairly and reasonably so entitled in view of all relevant
circumstances under Section&nbsp;55-8-54. Section&nbsp;55-8-56 allows a corporation to indemnify and advance
expenses to an officer, employee or agent who is not a director to the same extent, consistent with
public policy, as a director or as otherwise set forth in the corporation&#146;s articles of
incorporation or bylaws or by resolution of the board of directors or contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;55-8-57 of the NCBCA permits a corporation to provide for indemnification of
directors, officers, employees or agents, in its articles of incorporation or bylaws or by contract
or resolution, against liability in various proceedings and to purchase and maintain insurance
policies on behalf of these individuals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with the NCBCA, Article&nbsp;11 of the Registrant&#146;s Articles of Incorporation (the
&#147;Articles&#148;) provides for indemnification to the fullest extent permitted by the NCBCA of all
persons the Registrant has the power to indemnify under the NCBCA. Such indemnification is not
exclusive of rights to indemnification under any Bylaw, shareholder or disinterested directors vote
or otherwise. In addition, the Registrant&#146;s Bylaws provide that the Registrant shall, under certain
circumstances, indemnify its directors, officers, employees or agents for reasonable expenses,
judgments, fines, penalties and amounts paid in settlement (including attorneys&#146; fees), in any
proceeding arising out of their status or activities as directors, officers, employees or agents of
the Registrant, or as a director, officer, employee or agent of another corporation if serving at
the request of the Registrant, if the individual acted in a manner he or she believed in good faith
to be in or not opposed to the best interests of the Registrant and, in the case of a criminal
proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful, except
that any indemnification in connection with a proceeding by or in the right of the Registrant is
limited to reasonable expenses incurred in connection with the proceeding. The above standard of
conduct is determined by the disinterested members of the Board of Directors or a committee
thereof, or special legal counsel or the shareholders. The Registrant&#146;s Bylaws further provide that
the Registrant will indemnify a director, officer, employee or agent of the Registrant for
reasonable expenses incurred by such person in connection with a proceeding to which such person is
a party because he or she serves in such capacity, if such person is successful, on the merits or
otherwise, in such proceeding. Pursuant to the Bylaws and as authorized by statute, the Registrant
maintains insurance on behalf of its directors and officers against liability asserted against such
persons in such capacity whether or not such directors or officers have the right to
indemnification pursuant to the Bylaws or otherwise. In addition, the Registrant&#146;s Articles prevent
the recovery by the Registrant or any of its shareholders of monetary damages against its directors
to the fullest extent permitted by the NCBCA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing is only a general summary of certain aspects of the NCBCA and the Registrant&#146;s
Bylaws and Articles dealing with indemnification of directors and officers, and does not purport to
be complete. It is qualified in its entirety by reference to the detailed provisions of the NCBCA,
Article&nbsp;11 of the Registrant&#146;s Articles and Article&nbsp;IX of the Registrant&#146;s Bylaws.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#G25969toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="G25969006"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7.
Exemption from Registration Claimed.</B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable

</DIV>

<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="G25969007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed with or incorporated by reference in this Registration
Statement.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description of Exhibit</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Bank 2006 Employee Stock Option Plan, incorporated by reference to
Exhibit&nbsp;10.4 of the Registrant&#146;s Current Report on Form&nbsp;8-K filed January&nbsp;13,
2011 (File No.&nbsp;01-35032)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Bank 2006 Stock Option Plan for Directors, incorporated by
reference to Exhibit&nbsp;10.5 of the Registrant&#146;s Current Report on Form&nbsp;8-K filed
January&nbsp;13, 2011 (File No.&nbsp;01-35032)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Bank 2010 Employee Stock Option Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Bank 2010 Stock Option Plan for Directors</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Corporation 2010 Long-Term Incentive Plan, incorporated by
reference to Exhibit&nbsp;10.8 of the Registrant&#146;s Current Report on Form&nbsp;8-K filed
January&nbsp;13, 2011 (File No.&nbsp;01-35032)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of McGuireWoods LLP as to the legality of the securities being registered</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McGuireWoods LLP
(included in Exhibit&nbsp;5.1)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Dixon Hughes PLLC</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certified Resolutions of the
Registrant&#146;s Board of Directors</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="G25969008"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned Registrant hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement: (i)&nbsp;to include any
prospectus required by Section&nbsp;10(a)(3) of the Securities Act; (ii)&nbsp;to reflect in the
prospectus any facts or events arising after the effective date of the registration
statement (or the most recent post-effective amendment thereof) which, individually
or in the aggregate, represent a fundamental change in the information set forth in
the registration statement (notwithstanding the foregoing, any increase or decrease
in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table in
the effective registration statement); and (iii)&nbsp;to include any material information
with respect to the plan of distribution not previously disclosed in the registration
statement or any material change to such information in the registration statement;
<I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not
apply if the registration statement is on Form S-8, and the information required to
be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the SEC by the Registrant pursuant to Section&nbsp;13 or
Section 15(d) of the Exchange Act, that are incorporated by reference in the
registration statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial <I>bona fide </I>offering thereof.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#G25969toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the
offering.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Registrant&#146;s annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of
an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act) that
is incorporated by reference in this registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of
the SEC such indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#G25969toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="G25969009"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Charlotte, State of North Carolina, on
this 2nd day of February, 2011.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">PARK STERLING CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ JAMES C. CHERRY
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">James C. Cherry&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed by the following persons in the capacities and on the dates indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="21%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ JAMES C. CHERRY
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
James C. Cherry
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive
Officer and Director<br>
(Principal Executive
Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">February&nbsp;2, 2011</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ DAVID L. GAINES
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
David L. Gaines
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice
President and Chief
Financial Officer<br>
(Principal Financial
Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">February&nbsp;2, 2011</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ STEPHEN A. ARNALL
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Stephen A. Arnall
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice
President and
Treasurer<br> (Principal
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">February&nbsp;2, 2011</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Leslie
M. Baker, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">February , 2011&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Walter C. Ayers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">February&nbsp;2, 2011&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Larry C. Carroll
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">February&nbsp;2, 2011&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Thomas B. Henson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">February&nbsp;2, 2011&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Jeffrey S. Kane
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">February&nbsp;2, 2011&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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<TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">*By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ DAVID L. GAINES
&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>February&nbsp;2, 2011&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">David L. Gaines&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Attorney-in-Fact&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
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<H5 align="left" style="page-break-before:always"><A HREF="#G25969toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "INDEX TO EXHIBITS" -->
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<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>INDEX TO EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description of Exhibit</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Bank 2006 Employee Stock Option Plan, incorporated by reference to
Exhibit&nbsp;10.4 of the Registrant&#146;s Current Report on Form&nbsp;8-K filed January&nbsp;13,
2011 (File No.&nbsp;01-35032)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Bank 2006 Stock Option Plan for Directors, incorporated by
reference to Exhibit&nbsp;10.5 of the Registrant&#146;s Current Report on Form&nbsp;8-K filed
January&nbsp;13, 2011 (File No.&nbsp;01-35032)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Bank 2010 Employee Stock Option Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Bank 2010 Stock Option Plan for Directors</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Park Sterling Corporation 2010 Long-Term Incentive Plan, incorporated by
reference to Exhibit&nbsp;10.8 of the Registrant&#146;s Current Report on Form&nbsp;8-K filed
January&nbsp;13, 2011 (File No.&nbsp;01-35032)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of McGuireWoods LLP as to the legality of the securities being registered</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McGuireWoods LLP
(included in Exhibit&nbsp;5.1)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Dixon Hughes PLLC</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certified Resolutions of the
Registrant&#146;s Board of Directors</TD>
</TR>
<!-- End Table Body -->
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</DIV>



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sv8
Table of Contents
Registration No. 333-_______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Park Sterling Corporation
(Exact name of registrant as specified in its charter)
North Carolina
1043 E. Morehead Street, Suite 201
Charlotte, North Carolina 28204
27-4107242
(State or other jurisdiction of
incorporation or organization)
(Address of Principal Executive
Offices)
(I.R.S. Employer
Identification No.)
Park Sterling Bank 2006 Employee Stock Option Plan
Park Sterling Bank 2006 Stock Option Plan for Directors
Park Sterling Bank 2010 Employee Stock Option Plan
Park Sterling Bank 2010 Stock Option Plan for Directors
Park Sterling Corporation 2010 Long-Term Incentive Plan
(Full title of the plan)
James C. Cherry
Chief Executive Officer
Park Sterling Corporation
1043 E. Morehead Street, Suite 201
Charlotte, North Carolina 28204
(Name and address of agent for service)
(704) 716-2134
(Telephone number, including area code, of agent for service)
Copies to:
Anne T. Kelly
McGuireWoods LLP
201 North Tryon Street
Charlotte, North Carolina 28202
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.:
Large accelerated filer
o
Accelerated filer
o
Non-accelerated filer
o
(Do not check if a smaller reporting company)
Smaller reporting company
þ
CALCULATION OF REGISTRATION FEE
Proposed maximum
Title of securities to be
offering price per
Proposed maximum
Amount of
registered
Amount to be registered (1)
share (2)
aggregate offering price (2)
registration fee (2)
Common Stock, $1.00 par value
3,340,032 shares
$
5.54
$
18,503,778
$
2,149
(1)
The 3,340,032 shares of Common Stock registered hereunder are allocated to each of the Plans as follows:
(i) Park Sterling Bank 2006 Employee Stock Option Plan — 460,361 shares; (ii) Park Sterling
Bank 2006 Stock Option Plan for Directors — 343,291 shares; (iii) Park Sterling Bank 2010 Employee
Stock Option Plan — 1,350,195 shares; (iv) Park Sterling Bank 2010 Stock Option Plan for
Directors — 169,785 shares; and (v) Park Sterling Corporation 2010 Long-Term Incentive Plan
— 1,016,400 shares. Pursuant to Rule 416 under the Securities Act of 1933, as amended (the
"Securities Act"), this Registration Statement also covers any additional shares of Common
Stock that become issuable under the Plans by reason of any stock dividend, stock split
 or any other similar transaction.
(2)
Determined on the basis of the average of the high and low prices of the Common Stock
reported on The NASDAQ Global Market on January 31, 2011 in accordance with Rule 457(c) under
the Securities Act, solely for the purpose of calculating the registration fee pursuant to
Rule 457(h) under the Securities Act.
TABLE OF CONTENTS
PART I
PART II
Item 3. Incorporation of Documents by Reference
Item 4.Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings.
SIGNATURES
INDEX TO EXHIBITS
EX-4.3
EX-4.4
EX-5.1
EX-23.2
EX-24.1
EX-24.2
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I of Form S-8 will be sent or given
to participating employees as specified by Rule 428(b)(1) of the Securities Act. These document(s)
and the documents incorporated by reference herein pursuant to Item 3 of Part II hereof, taken
together, constitute a prospectus (the "Prospectus") that meets the requirements of Section 10(a)
of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Registrant with the Securities and Exchange Commission
(the "SEC") or filed by Park Sterling Bank (the "Bank"), with respect to which the Registrant is
the successor issuer, with the Federal Deposit Insurance Corporation (the "FDIC"), pursuant to the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), are incorporated by reference
herein and in the Prospectus constituting a part of this Registration Statement:
(a)
The Bank's Registration Statement on Form 10, dated April
23, 2010, as amended by Amendment No. 1 on Form
10/A, dated July 20, 2010;
(b) The Bank's Quarterly Reports on Form 10-Q for the quarters ended June 30, 2010 and
September 30, 2010;
(c) The Bank's Current Reports on Form 8-K filed August 18, 2010, October 26, 2010,
November 15, 2010, and November 24, 2010 (in each case, other than information that is
furnished but that is deemed not to have been filed);
(d) The Registrant's Current Reports on Form 8-K filed January 3, 2011, January 13,
2011, and January 18, 2011 (in each case, other than information that is furnished but that
is deemed not to have been filed); and
(e) The description of the Registrant's Common Stock that is contained in the
Registrant's Current Report on Form 8-K filed January 13, 2011, or any other amendment or
report filed for the purpose of updating such description.
All documents subsequently filed by the Registrant with the SEC pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange Act (other than any information that is furnished but that is
deemed not to have been filed) prior to the filing of a post-effective amendment hereto that either
indicates that all securities offered hereby have been sold or deregisters all securities then
remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and
the Prospectus and to be a part hereof from the date of filing of such documents. Any statement
contained in a document incorporated or deemed to be incorporated by reference herein shall be
deemed to be modified or superseded for purposes of this Registration Statement and the Prospectus
to the extent that a statement contained herein or in any other subsequently filed document that
also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.
The Registrant will provide without charge to each participant in the Plan, on the written or
oral request of any such person, a copy of any or all of the documents incorporated herein by
reference (other than exhibits to such documents which are not specifically incorporated by
reference in such documents). Written requests for such copies should be addressed to: Park
Sterling Corporation, 1043 E. Morehead Street, Suite 201, Charlotte, North Carolina 28204.
Telephone requests may be directed to 704.716.2134.
Item 4.
Description of Securities.
Not
applicable.
Item 5. Interests of Named Experts and Counsel.
Not
applicable.
2
Table of Contents
Item 6. Indemnification of Directors and Officers.
Sections 55-8-50 through 55-8-58 of the North Carolina Business Corporation Act (the "NCBCA")
contain provisions prescribing the extent to which directors and officers shall or may be
indemnified. Section 55-8-51 of the NCBCA permits a corporation, with certain exceptions, to
indemnify a current or former director against liability if (i) he conducted himself in good faith,
(ii) he reasonably believed (x) in the case of conduct in his official capacity with the
corporation, that his conduct was in the best interests of the corporation and (y) in all other
cases his conduct was at least not opposed to the corporation's best interests and (iii) in the
case of any criminal proceeding, he had no reasonable cause to believe his conduct was unlawful. A
corporation may not indemnify a director in connection with a proceeding by or in the right of the
corporation in which the director was adjudged liable to the corporation or in connection with a
proceeding charging improper personal benefit to him, whether or not involving action in his
official capacity, in which he was adjudged liable on the basis that personal benefit was
improperly received by him. The above standard of conduct is determined by the disinterested
members of the board of directors or a committee thereof or special legal counsel or the
shareholders as prescribed in Section 55-8-55.
Sections 55-8-52 and 55-8-56 of the NCBCA require a corporation to indemnify a director or
officer in the defense of any proceeding to which he was a party because of his capacity as a
director or officer against reasonable expenses when he is wholly successful, on the merits or
otherwise, in his defense, unless the articles of incorporation provide otherwise. Upon
application, the court may order indemnification of the director or officer if the court determines
that he is entitled to mandatory indemnification under Section 55-8-52, in which case the court
shall also order the corporation to pay the reasonable expenses incurred to obtain court-ordered
indemnification or if he is adjudged fairly and reasonably so entitled in view of all relevant
circumstances under Section 55-8-54. Section 55-8-56 allows a corporation to indemnify and advance
expenses to an officer, employee or agent who is not a director to the same extent, consistent with
public policy, as a director or as otherwise set forth in the corporation's articles of
incorporation or bylaws or by resolution of the board of directors or contract.
Section 55-8-57 of the NCBCA permits a corporation to provide for indemnification of
directors, officers, employees or agents, in its articles of incorporation or bylaws or by contract
or resolution, against liability in various proceedings and to purchase and maintain insurance
policies on behalf of these individuals.
In accordance with the NCBCA, Article 11 of the Registrant's Articles of Incorporation (the
"Articles") provides for indemnification to the fullest extent permitted by the NCBCA of all
persons the Registrant has the power to indemnify under the NCBCA. Such indemnification is not
exclusive of rights to indemnification under any Bylaw, shareholder or disinterested directors vote
or otherwise. In addition, the Registrant's Bylaws provide that the Registrant shall, under certain
circumstances, indemnify its directors, officers, employees or agents for reasonable expenses,
judgments, fines, penalties and amounts paid in settlement (including attorneys' fees), in any
proceeding arising out of their status or activities as directors, officers, employees or agents of
the Registrant, or as a director, officer, employee or agent of another corporation if serving at
the request of the Registrant, if the individual acted in a manner he or she believed in good faith
to be in or not opposed to the best interests of the Registrant and, in the case of a criminal
proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful, except
that any indemnification in connection with a proceeding by or in the right of the Registrant is
limited to reasonable expenses incurred in connection with the proceeding. The above standard of
conduct is determined by the disinterested members of the Board of Directors or a committee
thereof, or special legal counsel or the shareholders. The Registrant's Bylaws further provide that
the Registrant will indemnify a director, officer, employee or agent of the Registrant for
reasonable expenses incurred by such person in connection with a proceeding to which such person is
a party because he or she serves in such capacity, if such person is successful, on the merits or
otherwise, in such proceeding. Pursuant to the Bylaws and as authorized by statute, the Registrant
maintains insurance on behalf of its directors and officers against liability asserted against such
persons in such capacity whether or not such directors or officers have the right to
indemnification pursuant to the Bylaws or otherwise. In addition, the Registrant's Articles prevent
the recovery by the Registrant or any of its shareholders of monetary damages against its directors
to the fullest extent permitted by the NCBCA.
The foregoing is only a general summary of certain aspects of the NCBCA and the Registrant's
Bylaws and Articles dealing with indemnification of directors and officers, and does not purport to
be complete. It is qualified in its entirety by reference to the detailed provisions of the NCBCA,
Article 11 of the Registrant's Articles and Article IX of the Registrant's Bylaws.
3
Table of Contents
Item 7.
Exemption from Registration Claimed.
Not
applicable
Item 8. Exhibits.
The following exhibits are filed with or incorporated by reference in this Registration
Statement.
Exhibit No.
Description of Exhibit
4.1
Park Sterling Bank 2006 Employee Stock Option Plan, incorporated by reference to
Exhibit 10.4 of the Registrant's Current Report on Form 8-K filed January 13,
2011 (File No. 01-35032)
4.2
Park Sterling Bank 2006 Stock Option Plan for Directors, incorporated by
reference to Exhibit 10.5 of the Registrant's Current Report on Form 8-K filed
January 13, 2011 (File No. 01-35032)
4.3
Park Sterling Bank 2010 Employee Stock Option Plan
4.4
Park Sterling Bank 2010 Stock Option Plan for Directors
4.5
Park Sterling Corporation 2010 Long-Term Incentive Plan, incorporated by
reference to Exhibit 10.8 of the Registrant's Current Report on Form 8-K filed
January 13, 2011 (File No. 01-35032)
5.1
Opinion of McGuireWoods LLP as to the legality of the securities being registered
23.1
Consent of McGuireWoods LLP
(included in Exhibit 5.1)
23.2
Consent of Dixon Hughes PLLC
24.1
Power of Attorney
24.2
Certified Resolutions of the
Registrant's Board of Directors
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement: (i) to include any
prospectus required by Section 10(a)(3) of the Securities Act; (ii) to reflect in the
prospectus any facts or events arising after the effective date of the registration
statement (or the most recent post-effective amendment thereof) which, individually
or in the aggregate, represent a fundamental change in the information set forth in
the registration statement (notwithstanding the foregoing, any increase or decrease
in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee" table in
the effective registration statement); and (iii) to include any material information
with respect to the plan of distribution not previously disclosed in the registration
statement or any material change to such information in the registration statement;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not
apply if the registration statement is on Form S-8, and the information required to
be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the SEC by the Registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act, that are incorporated by reference in the
registration statement.
(2) That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial
bona fide
offering thereof.
4
Table of Contents
(3) To remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the
offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Registrant's annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of
an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that
is incorporated by reference in this registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of
the SEC such indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.
5
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Charlotte, State of North Carolina, on
this 2nd day of February, 2011.
PARK STERLING CORPORATION
By:
/s/ JAMES C. CHERRY
James C. Cherry
Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ JAMES C. CHERRY
James C. Cherry
Chief Executive
Officer and Director
(Principal Executive
Officer)
February 2, 2011
/s/ DAVID L. GAINES
David L. Gaines
Executive Vice
President and Chief
Financial Officer
(Principal Financial
Officer)
February 2, 2011
/s/ STEPHEN A. ARNALL
Stephen A. Arnall
Executive Vice
President and
Treasurer
(Principal
Accounting Officer)
February 2, 2011
Leslie
M. Baker, Jr.
Chairman of the Board
February , 2011
*
Walter C. Ayers
Director
February 2, 2011
*
Larry C. Carroll
Director
February 2, 2011
*
Thomas B. Henson
Director
February 2, 2011
*
Jeffrey S. Kane
Director
February 2, 2011
*By:
/s/ DAVID L. GAINES
February 2, 2011
David L. Gaines
Attorney-in-Fact
6
Table of Contents
INDEX TO EXHIBITS
Exhibit No.
Description of Exhibit
4.1
Park Sterling Bank 2006 Employee Stock Option Plan, incorporated by reference to
Exhibit 10.4 of the Registrant's Current Report on Form 8-K filed January 13,
2011 (File No. 01-35032)
4.2
Park Sterling Bank 2006 Stock Option Plan for Directors, incorporated by
reference to Exhibit 10.5 of the Registrant's Current Report on Form 8-K filed
January 13, 2011 (File No. 01-35032)
4.3
Park Sterling Bank 2010 Employee Stock Option Plan
4.4
Park Sterling Bank 2010 Stock Option Plan for Directors
4.5
Park Sterling Corporation 2010 Long-Term Incentive Plan, incorporated by
reference to Exhibit 10.8 of the Registrant's Current Report on Form 8-K filed
January 13, 2011 (File No. 01-35032)
5.1
Opinion of McGuireWoods LLP as to the legality of the securities being registered
23.1
Consent of McGuireWoods LLP
(included in Exhibit 5.1)
23.2
Consent of Dixon Hughes PLLC
24.1
Power of Attorney
24.2
Certified Resolutions of the
Registrant's Board of Directors
7