| Amsouth Bancorporation |
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| companies based in alabama | |
| banks of the united states | |
| companies established in 1970 | |
| 2006 disestablishments | |
AmSouth Bancorporation was a bank holding company headquartered in Birmingham, Alabama , operated as a subsidiary of Regions Financial Corporation . AmSouth was previously known as First National Bank of Birmingham first organized in 1872. AmSouth is in the financial services industry with more than 12,000 employees. AmSouth's size more than doubled in 2000 when it absorbed Nashville, Tennessee -based First American National Bank .2 With the merger came hundreds of branches across Tennessee along with several in Kentucky , Virginia , and Mississippi . This is cited as a rare example of one bank absorbing another bank larger than itself. As part of the deal, AmSouth also acquired Deposit Guaranty Bank (which was operating as a subsidiary of First American). As such, the Deposit Guaranty building in downtown Jackson, Mississippi is now known as the AmSouth Building. MERGER WITH REGIONS FINANCIAL CORPORATION On May 25 , 2006 , AmSouth announced it would merge with Regions Financial Corporation , another Birmingham-based bank, in a $10 billion deal.3 The new entity, and all of its branches, will carry the Regions Bank name. A list of branches that will be divested for the merger to be approved was issued by the Department of Justice on October 19, 2006.4 The 39 branches divested in Alabama were sold to RBC Centura Bank and converted in mid-Spring 2007. On November 4, 2006 Regions completed its acquisition of AmSouth.5 AmSouth branches in Alabama and Florida either closed or converted to Regions on July 13, 2007. Branches in remaining states will close or convert in October 2007. REFERENCES EXTERNAL LINKS
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