News

First American, AmSouth merge

April 15, 2002

NASHVILLE, Tenn. -- Creating one of the largest banks in the Southeast, stockholders of First American Corp. and AmSouth Bancorp have approved a merger between the two financial institutions.

The merger establishes a bank, to retain the AmSouth Bancorp name, with $42 billion in assets and 660 branches, with 1,365 ATMs in nine Southeastern states, according to an article in the Associated Press.

To be headquartered in Birmingham, Ala., AmSouth Bancorp will operate in Tennessee, Florida, Alabama, Mississippi, Georgia, Louisiana, Arkansas, Kentucky and Virginia.

With regulatory approval already granted, the merger should be final Oct. 1.