Consumer Banking delivers a full range of financial services to individuals and small businesses through the retail branch and ATM networks, the Internet and the business banking group. Services include loan and deposit products designed to meet the personal finance needs of consumers and the financial needs of small business owners. In 2000, the Consumer Banking segment produced net income totaling $303.6 million compared to $284.3 million in 1999. The increase over 1999 was primarily the result of lower NIE and steady production in consumer loan categories such as home equity and dealer indirect.

Commercial Banking provides corporate lending, leasing, international services, capital markets, and corporate cash management services to large and middle-market corporate customers. In 2000, the Commercial Banking group contributed $196.3 million of net income versus $200.8 million in 1999. The lower level of income in 2000 was primarily the result of higher credit costs and a reduction in yields on loans in 2000 compared to 1999.

Wealth Management provides fiduciary, retirement, and investment management services for both institutional and individual clients. Producing primarily fee-based income, this area includes Trust, Private Banking, Consumer Investments, and the AmSouth Mutual Funds. Wealth Management contributed net income of $39.0 million in 2000 compared to $35.1 million in 1999. This increase was primarily the result of higher noninterest revenues in 2000 compared to 1999.

Treasury and Other represents balance sheet management activities, corporate overhead, unallocated revenues such as BOLI, and other nonrecurring gains, losses or special charges including merger-related charges and costs associated with the third-quarter comprehensive financial restructuring. Due to its sale in 2000, IFC’s results for each year are also included in Treasury and Other. Treasury and Other does not represent a banking line of business, but encompasses all other activities supporting the business segments.

Forward-Looking Statements
Statements made in this document which are not purely historical are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995), including any statements regarding descriptions of management’s plans, objectives or goals for future operations, products or services, and forecasts of its revenues, earnings or other measures of performance.

Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Some of the factors which could cause results to differ materially from management’s current expectations have been specified in the foregoing discussion and analysis. In general these factors include: the integration of the former First American franchise; legislation; general economic conditions, especially in the Southeast; changes in interest rates; deposit flows; the cost of funds; cost of federal deposit insurance premiums; demand for loan products; demand for financial services; competition; changes in the quality or composition of AmSouth’s loan and investment portfolios; changes in accounting principles, policies or guidelines; other economic, competitive, governmental, regulatory, and technical factors affecting AmSouth’s operations, products, services and prices; and the outcome of litigation, which is inherently uncertain and depends on the findings of judges and juries.

Forward-looking statements in this report speak only as of the date of the report. The Company does not undertake a duty to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.