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 Notes to Consolidated Financial Statements
At December 31, 2000, AmSouth had a line of credit arrangement for short-term debt enabling it to borrow up to $25,000,000 subject to such terms as AmSouth and the lender may mutually agree. The arrangement is reviewed annually for renewal of the credit line. The line is available solely to support commercial paper borrowings and was not in use at December 31, 2000.	The interest rate on the treasury, tax and loan notes was 6.50% and 5.00% at December 31, 2000 and 1999, respectively. All other borrowed funds had interest rates ranging from 3.50% to 6.72% at December 31, 2000, and from 3.15% to 6.51% at December 31, 1999.
NOTE 12–LONG-TERM DEBT
Long-term debt at December 31 is summarized as follows:
(In thousands) 2000  1999  Long-term Federal Home Loan Bank advances $ 4,898,308  $ 4,612,686  Other long-term debt: 6.45% Subordinated Notes Due 2018  303,523  304,020  6.125% Subordinated Notes Due 2009  174,495  174,351  6.75% Subordinated Debentures Due 2025  149,915  149,898  7.75% Subordinated Notes Due 2004  149,687  149,595  7.25% Senior Notes Due 2006  99,620  101,028  6.875% Subordinated Notes Due 2003  49,926  49,895  6.625% Subordinated Notes Due 2005  49,736  49,709  Long-term notes payable 7,215  11,170  Capitalized lease obligations 980  1,134  Total other long-term debt 985,097  990,800  $ 5,883,405  $ 5,603,486
Advances from the Federal Home Loan Bank (FHLB) had maturities ranging from 2001 to 2020 and interest rates ranging from 0.50% to 8.10%. Of the balances outstanding at December 31, 2000, $4,365,000,000 is callable by the FHLB during the first quarter of 2001. Under the Blanket Agreement for Advances and Security Agreement with the FHLB, residential mortgage loans, mortgage-backed securities and home equity lines and loans are pledged as collateral for the FHLB advances outstanding. The 6.45% Subordinated Notes Due 2018 were issued February 1, 1998, by AmSouth’s bank subsidiary (AmSouth Bank) at a price of 101.702%. The net proceeds to AmSouth Bank after commissions totaled $303,156,000. The notes will mature February 1, 2018, and were issued with embedded put and call options that could require AmSouth Bank to repurchase the notes at face value on February 1, 2008. If the bank does not repurchase the debt, the interest rate on the notes will be reset on February 1, 2008, based on a set formula.	AmSouth Bank purchased interest rate swaps in the notional amount of $300,000,000 to hedge the fair value of these notes. These swaps require AmSouth Bank to pay variable rates based on the 30-day and 90-day London Interbank Offered Rate (LIBOR) on notional amounts of $200,000,000 and $100,000,000, respectively. The 6.125% Subordinated Notes Due 2009 were issued March 1, 1999, at a discounted price of 99.175%. The net proceeds to AmSouth after commissions totaled $172,419,000. The notes will mature March 1, 2009, and AmSouth may redeem some, or all, of the notes prior to March 1, 2009, at the greater of 100 percent of the principal amount, or an amount based on a preset formula. AmSouth purchased interest rate swaps in the notional amount of $175,000,000 to hedge the fair value of these notes. These swaps require AmSouth to pay variable interest rates based on the 30-day LIBOR on notional amounts of $175,000,000.