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| AmSouth
Bancorporation and Subsidiaries Notes to Consolidated Financial Statements |
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The Qualified Retirement Plans have a portion of their investments in AmSouth common stock. The number of shares and the market value of the common stock were 1,080,307 and $16,474,682, respectively, as of December 31, 2000. Dividends paid on the AmSouth common stock totaled $871,000 during 2000. AmSouth also maintains a thrift plan and an employee stock purchase plan that cover substantially all regular full-time employees. AmSouth matches pretax contributions dollar for dollar on the first 6 percent of base pay that each employee contributes to the thrift plan. After-tax contributions to the thrift plan are matched at 50 cents for every dollar contributed by an employee through the first 6 percent of base pay. Employees may make both pretax and after-tax contributions, but no matching contributions are made on any employee contributions above 6 percent, with pretax contributions being matched first. All company-matching contributions are allocated to the AmSouth common stock investment option. |
First American had a combination savings, thrift and profit-sharing plan (FIRST Plan) available to all employees (except the employees of IFC and hourly paid and special exempt-salaried employees). The FIRST Plan has been terminated and the employees are participating in AmSouth’s thrift plan. The cost of the thrift plans for the years ended December 31, 2000, 1999 and 1998 was $16.6 million, $10.2 million and $15.3 million, respectively. Under the employee stock purchase plan, an employee may invest up to $2,000 each calendar year in purchases of AmSouth common stock, and AmSouth will contribute a matching 25 percent toward the purchase. Additional purchases of up to $8,000 may be made on an unmatched basis with no administrative or brokerage fees charged. Under the employee stock purchase plan, 313,332 and 113,885 shares of AmSouth common stock were purchased during 2000 and 1999, respectively, with weighted-average fair values of $15.07 and $27.37, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NOTE 20–INCOME
TAXES |
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| The provisions for income taxes charged to earnings are summarized as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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