2000 Annual Report Contents... Front Cover Introduction Letter to Shareholders Strategic Overview 2000 Financial Information Management's Discussion & Analysis Management's Statement on Reporting Report of Independent Auditors Consolidated Statement of Condition Consolidated Statement of Earnings Consolidated Statement of Shareholder's Equity Consolidated Statement of Cash Flows Notes to Consolidated Financial Statements Board of Directors Management Committee Emeritus Board of Directors Corporate Information Back Cover

AmSouth Bancorporation and Subsidiaries CONSOLIDATED STATEMENT OF EARNINGS
(In thousands except per share data) Years Ended December 31    2000  1999  1998  INTEREST INCOME Loans $ 2,237,548  $ 2,128,145  $ 2,080,065  Available-for-sale securities 329,766  467,499  496,872  Held-to-maturity securities 453,987  314,868  235,481  Trading securities 2,122  4,051  4,178  Loans held for sale 12,582  10,148  16,457  Federal funds sold and securities purchased under agreements to resell 27,455  5,694  7,650  Other interest-earning assets 6,966  2,343  1,204  Total interest income 3,070,426  2,932,748  2,841,907  INTEREST EXPENSE Interest-bearing demand deposits 327,664  266,155  302,208  Savings deposits 37,030  53,933  51,354  Time deposits 445,713  402,576  475,426  Foreign time deposits 64,540  34,262  10,048  Certificates of deposit of $100,000 or more 166,224  146,422  131,231  Federal funds purchased and securities sold under agreements to repurchase 188,410  187,946  168,435  Other borrowed funds 96,808  47,894  43,287  Long-term Federal Home Loan Bank advances 296,158  222,036  153,122  Other long-term debt 68,776  63,580  62,512  Total interest expense 1,691,323  1,424,804  1,397,623  NET INTEREST INCOME 1,379,103  1,507,944  1,444,284  Provision for loan losses 227,600  165,626  99,067  NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 1,151,503  1,342,318  1,345,217  NONINTEREST REVENUES Service charges on deposit accounts 229,383  233,045  234,849  Consumer investment services income 199,270  213,292  183,831  Trust income 114,353  109,223  109,453  Other noninterest revenues 126,488  292,000  271,721  Total noninterest revenues 669,494  847,560  799,854  NONINTEREST EXPENSES Salaries and employee benefits 583,794  612,687  596,050  Equipment expense 121,798  135,590  123,480  Net occupancy expense 114,783  111,432  106,497  Subscribers’ commissions 82,618  99,588  89,918  Merger-related costs 110,178  301,415  121,725  Other noninterest expenses 353,264  387,795  368,602  Total noninterest expenses 1,366,435  1,648,507  1,406,272  INCOME BEFORE INCOME TAXES 454,562  541,371  738,799  Income taxes 125,435  200,903  264,725  NET INCOME $ 329,127  $ 340,468  $ 474,074  Average common shares outstanding 382,031  391,136  389,595  Earnings per common share $ 0.86  $ 0.87  $ 1.22  Diluted average common shares outstanding 384,677  396,515  396,491  Diluted earnings per common share $ 0.86  $ 0.86  $ 1.20  See Notes to Consolidated Financial Statements.