AmSouth Bancorp

AmSouth Bancorporation began it life 125 years ago as First National Bank of Birmingham and was reorganized in 1970.  AmSouth Bancorporation began doing business in 1972.  AmSouth Bancorporation’s  main subsidiary is AmSouth Bank, which is organized under the laws of the state of Alabama.  They have 685 branches in the states of Alabama, Florida, Tennessee, Mississippi, Louisiana and Georgia. AmSouth offers a variety of personal and commercial financial services, including a network of 1,240 ATM’s that link with automated tellers in all 50 states. 

Mortgages offered by AmSouth Bancorp

AmSouth Bancorp is committed to being the leading provider of affordable mortgages in their markets.  Fixed and adjustable rate mortgages are offered along with the one-time close construction to permanent financing loan.  Fixed rate loans are offered in terms of 15 and 30 years, whereas the adjustable rate mortgage is offered with rates locked in for 5, 7, or 10 years and then moves to the prevailing rate. The fixed and adjustable loans are available in interest only options. Conforming and jumbo renovation (home improvement) loans are available.  AmSouth offers VA and FHA loans and for people with exceptional credit, but little savings 97% and 100% loan to value mortgages.    AmSouth also participates in State and Local Housing Authority Programs which aid low income and first time buyers in purchasing homes.  In certain areas a Rural Housing Fund aids buyers with cost saving programs such as no down payment and no mortgage insurance.  Home Equity Loans and Home Equity Lines of Credit are also offered

AmSouth  is committed to providing their customers with a relationship that is unparallel.  They are known as the “relationship people”.  AmSouth believes in practicing six basic values:  Do more than is expected;  If something is wrong, make it right;  Make time for people;  Improve someone’s life;  Make a difference;  Do the right thing.   AmSouth believes adhering to these principals will bring about an extra level of service. 

More about AmSouth Bancorp

AmSouth is a publicly held company.   Their fiscal year ends on December 31.  At present AmSouth Bancorporation employs over 12,000 people.  Their Chief Executive Officer is Mr. C Dowd Ritter, their Chief Financial Officer is Ms Beth E Mooney and their Sr. Executive Vice President in charge of Banking is Ms Candace Bagby.  AmSouth Bancorporation holds $49758 million in assets and reported a pretax income of $923 million in 2005.  Standard and  Poor’s credit rating are as follows:  short-term A-1, long term A.

Mortgages may be applied for in person, online or by phone.  AmSouth also has properties for sale which include residential, commercial and land.

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