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AMSOUTH'S OFFER ACCEPTED BY FIRST NATIONAL BANK OF CLEARWATER

 CLEARWATER, Fla., May 19 /PRNewswire/ -- Shareholders of The First National Bank of Clearwater voted today to accept AmSouth Bancorporation's (NYSE: ASO) offer to acquire First National.
 AmSouth reached a definitive agreement to acquire First National in January 1993, and anticipates completing the acquisition this fall, pending receipt of regulatory approvals.
 Under the terms of the agreement, AmSouth will exchange six shares of AmSouth common stock for each share of The First National Bank of Clearwater.
 "We are delighted that our shareholders confirmed the board's decision that our affiliation with AmSouth will be in the best interest of our shareholders, our customers and the citizens and businesses of the greater Clearwater area," First National's President Robert A. Burwell said.
 AmSouth Chairman and Chief Executive Officer John W. Woods said: "We look forward to welcoming the employees and customers of First National into the AmSouth family. First National is a strong, profitable, customer-oriented institution, and these characteristics will be strengthened with the completion of our affiliation."
 After the affiliation, First National will become part of AmSouth Bank of Florida, which presently operates 24 banking offices in northwest Florida.
 In addition to AmSouth Bank of Florida, AmSouth Bancorporation also operates 154 banking offices throughout Alabama, 20 offices in Tennessee and one in Summerville, Ga.
 AmSouth presently has three additional affiliations pending in central Florida and one in northwest Georgia. These include definitive agreements to acquire First Gulf Bank and its parent company, Charter Banking Corp. of St. Petersburg; Orange Bank and its parent company, Orange Banking Corporation of Orlando; Mid-State Federal Savings Bank headquartered in Ocala; and First Sunbelt Bankshares, Inc., parent company of The Georgia State Bank of Rome.
 -0- 5/19/93
 /CONTACT: Tom Beatty of First National Bank of Clearwater, 813-462-1170, or Harvey E. Campbell of AmSouth Bancorporation, 205-326-5316/
 (ASO)


CO: AmSouth Bancorporation; First National Bank of Clearwater ST: Alabama, Florida IN: FIN SU: TNM

BR-BN -- AT007 -- 0423 05/19/93 15:52 EDT
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Publication:PR Newswire
Date:May 19, 1993
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