 |
 |
AmSouth
Bancorporation and Subsidiaries
Notes to Consolidated Financial Statements |
NOTE 24–CONDENSED
PARENT COMPANY INFORMATION
|
 |
| Statement of Condition |
|
December 31
|
| (In thousands) |
2000
|
1999
|
|
| ASSETS |
|
|
|
| Investment in subsidiaries |
$3,470,807 |
$3,553,778 |
| Investment in Eurodollars |
119,199 |
159,664 |
| Available-for-sale securities |
10,522 |
58,824 |
| Other assets |
13,183 |
27,418 |
|
|
|
|
|
$3,613,711 |
$3,799,684 |
|
|
|
|
|
 |
|
|
|
| LIABILITIES AND SHAREHOLDERS’
EQUITY |
|
|
| Commercial paper |
$12,494 |
$8,749 |
| Subordinated debt |
573,759 |
573,448 |
| Other borrowed funds |
129,659 |
129,611 |
| Accrued interest payable and other
liabilities |
84,392 |
128,671 |
|
|
|
|
Total liabilities |
800,304 |
840,479 |
| Shareholders’ equity |
2,813,407 |
2,959,205 |
|
|
|
|
|
$3,613,711 |
$3,799,684 |
|
|
|
|
|
| Statement of Earnings |
|
Years Ended December 31
|
| (In thousands) |
2000
|
1999
|
1998
|
|
| INCOME |
|
|
|
|
|
Dividends from subsidiaries |
$ 586,000 |
$ 308,691 |
$ 421,856 |
|
Interest and other |
4,813 |
18,893 |
18,004 |
|
|
|
|
|
590,813 |
327,584 |
439,860 |
|
|
|
| EXPENSES |
|
|
|
|
Interest |
51,521 |
46,548 |
45,066 |
|
Other |
5,020 |
66,947 |
62,004 |
|
|
|
|
|
56,541 |
113,495 |
107,070 |
|
|
|
| Income before income taxes and equity
in |
|
|
|
|
undistributed earnings of subsidiaries |
534,272 |
214,089 |
332,790 |
| Income tax credit |
18,805 |
17,669 |
29,534 |
|
|
|
| Income before equity in earnings of
subsidiaries |
553,077 |
231,758 |
362,324 |
|
|
|
| Equity in undistributed/(dividends
in excess of) |
|
|
|
|
subsidiaries’ annual earnings |
(223,950) |
108,710 |
111,750 |
|
|
|
|
NET INCOME |
$ 329,127 |
$ 340,468 |
$ 474,074 |
|
|
|
|
|
|
|
|