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U.S. Department of Justice Seal and Letterhead
(202) 514-2007
TDD (202) 514-1888


52 AmSouth Bank Branches with $2.7 Billion in Deposits to be Divested
in Alabama, Mississippi and Tennessee

WASHINGTON -- The Department of Justice announced today that Regions Financial Corporation and AmSouth Bancorporation have agreed to sell 52 AmSouth branch offices with approximately $2.7 billion in deposits in Alabama, Mississippi and Tennessee in order to resolve competitive concerns raised by the companies' proposed merger. The Department said that without the divestitures the merger would adversely affect competition in local markets in the three states for small business lending, resulting in fewer choices for small business customers. The combination of Regions and AmSouth will create the largest bank in Alabama and Mississippi, the 2nd largest bank in Tennessee, and the15th largest bank in the United States.

Under the agreement, the companies will divest 39 branches with $2 billion in deposits in six Alabama markets, six branches with $304 million in deposits in four Mississippi markets, and seven branches with $408.2 million in deposits in seven Tennessee markets. The divestitures will include the consumer and commercial loans associated with the divested branches. The companies also have agreed that in selected areas where the merging firms overlap ­ in Alabama, Florida, Louisiana, Mississippi and Tennessee ­ if a branch office is closed within three years of the merger, they will sell or lease the office to a commercial bank-buyer so long as there is a bank-buyer offer that meets or exceeds the best offer from a non-bank buyer. The Department said that physical branches, absent deposits and loans, are valuable assets because the facility is already set up for the business of banking and may facilitate entry into or expansion within a market.

"These divestitures will ensure that consumers and businesses in Alabama, Mississippi and Tennessee will continue to have choices for small business lending and will continue to enjoy the benefits of competition," said Thomas O. Barnett, Assistant Attorney General in charge of the Department's Antitrust Division.

The proposed merger is subject to the final approval of the Board of Governors of the Federal Reserve System. The Department said that it will advise the Federal Reserve Board that, subject to the firms' divestiture of the branch offices specified in the agreement and associated loans and deposits, the Antitrust Division will not challenge the merger.

Regions Financial Corporation, headquartered in Birmingham, Ala., has assets of $84.6 billion and consolidated total deposits of $60.5 billion. Regions operates about 1,300 branches and about 1,600 ATMs across 16 states in the South and Midwest.

AmSouth Bancorporation, also headquartered in Birmingham, Ala., has assets of $52.8 billion and deposits of $36.7 billion. AmSouth has 691 branch offices and 1,200 ATMs throughout the Southeastern United States.

A list of the branches to be divested is attached.



Attachment A

AmSouth Branches to Be Divested
State Market County Branch Name Address City
AL Dallas FRB Dallas Selma Main 9 Broad Street Selma
AL Decatur FRB Morgan Danville Road 2404 Danville Rd SW Decatur
AL Huntsville FRB Madison Lily Flag 107 Lily Flag Rd SE Huntsville
AL Huntsville FRB Madison North Madison 7930 Highway 72 W Madison
AL Huntsville FRB Madison Piedmont Point 4769 Whitesburg Drive S Huntsville
AL Huntsville FRB Madison University Dr 1470 Perimeter Pkwy NW Huntsville
AL Huntsville FRB Madison Whitesburg 2204 Whitesburg Dr Huntsville
AL Mobile FRB Mobile Ambassador Plaza 7860 Airport Blvd Mobile
AL Mobile FRB Baldwin Baldwin Square 111 Baldwin Square Fairhope
AL Mobile FRB Baldwin Bay Minette 511 Dolive Street Bay Minette
AL Mobile FRB Mobile Bayou Le Batre 13825 South Wintzell Ave Bayou Le Batre
AL Mobile FRB Mobile Cottage Hill 5133 Cottage Hill Rd Mobile
AL Mobile FRB Mobile Chrichton 2820 Springhill Ave Mobile
AL Mobile FRB Baldwin Eastern Shore Centre 10010 Eastern Shore Blvd Spanish Fort
AL Mobile FRB Baldwin Fairhope 51 S Section Street Fairhope
AL Mobile FRB Mobile Government Street 1402 Government Street Mobile
AL Mobile FRB Mobile Hillcrest 720 Hillcrest Rd Mobile
AL Mobile FRB Baldwin Lake Forest 28770 US Highway 98 Daphne
AL Mobile FRB Mobile Lloyds Lane 6241 Cottage Hill Road Mobile
AL Mobile FRB Mobile McGregor Sq 3920 Airport Blvd Mobile
AL Mobile FRB Mobile Oak Plaza 7800 Moffat Road Semmes
AL Mobile FRB Mobile Saraland 34 Shelton Beach Rd Saraland
AL Mobile FRB Mobile Schillinger Road 7849 Cottage Hill Rd Mobile
AL Mobile FRB Mobile Skyline 3942 Government Blvd Mobile
AL Mobile FRB Mobile Spring Hill-Mobile 4357 Old Shell Road Mobile
AL Mobile FRB Mobile Springdale Plaza 3250 Airport Blvd, Ste. 4F Mobile
AL Mobile FRB Mobile Tillman's Corner 5351 Highway 90 W Mobile
AL Mobile FRB Mobile Toulminville 2326 St. Stephens Road Mobile
AL Mobile FRB Baldwin Westminster 500 Spanish Fort Blvd Spanish Fort
AL Montgomery FRB Montgomery Atlanta Hwy 5375 Atlanta Hwy Montgomery
AL Montgomery FRB Montgomery Eastern Bypass 1465 Eastern Blvd Montgomery
AL Montgomery FRB Autauga Prattville 1882 E. Main Street Prattville
AL Montgomery FRB Elmore Millbrook 3725 Highway 14 Millbrook
AL Montgomery FRB Montgomery Taylor Road 2710 Taylor Road Montgomery
AL Montgomery FRB Elmore Wetumpka Main 743 S Main St Wetumpka
AL Tuscaloosa FRB Tuscaloosa Northport 3076 McFarland Blvd Northport
AL Tuscaloosa FRB Tuscaloosa Skyland 719 Skyland Blvd Tuscaloosa
AL Tuscaloosa FRB Tuscaloosa Tuscaloosa Main 2330 University Blvd Tuscaloosa
AL Tuscaloosa FRB Tuscaloosa University Campus 311 University Blvd Tuscaloosa
MS Clarksdale FRB Coahoma Clarksdale Main 301 John Lee Hooker Lane Clarksdale
MS Greenville FRB Washington Greenville Main 342 Washington Avenue Greenville
MS Greenwood FRB Leflore Greenwood 820 West Park Avenue Greenwood
MS Starkville FRB Oktibbeha 12/25 303 Hwy 12 W Starkville
MS Starkville FRB Webster Europa 102 West Fox Avenue Europa
MS Starkville FRB Oktibbeha Sturgis 3869 Hwy 12 W Sturgis
TN Bedford FRB Bedford Shelbyville 508 Madison Street Shelbyville
TN Cannon FRB Cannon Woodbury 101 W Main Street Woodbury
TN Cumberland FRB Cumberland Crossville 139 Elmore Rd Crossville
TN DeKalb FRB DeKalb Smithville 200 West Main Street Smithville
TN Fayetteville FRB Lincoln Fayetteville 310 College St. W Fayetteville
TN Paris FRB Henry Paris 101 W Wood St Paris
TN Rhea FRB Rhea Dayton 1525 Market Street Dayton