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AMSOUTH TO PURCHASE FIVE SECOR OFFICES

 AMSOUTH TO PURCHASE FIVE SECOR OFFICES
 BIRMINGHAM, Ala., Aug. 17 /PRNewswire/ -- AmSouth Bank N.A. and


Secor Bank, Federal Savings Bank (NASDAQ: SECR), have executed a letter of intent for AmSouth to purchase the deposits and certain assets of five Secor Bank offices in three north Alabama markets, according to an announcement by John W. Woods, chairman of the board, president and chief executive officer of AmSouth Bank N.A.
 Upon the completion of a definitive agreement and obtaining various regulatory approvals, AmSouth will convert Secor's Muscle Shoals and Florence-Regency offices into new AmSouth offices, and Secor's Decatur, Gadsden and Florence-Pine Street offices will be incorporated into existing nearby AmSouth offices.
 The transaction involves approximately $93 million in deposits and $37 million in loans, and AmSouth anticipates completing the transaction in the first quarter of 1993.
 Woods said, "We are delighted that this transaction, which will have a modest positive impact on net income, will enhance our existing market share in these attractive Alabama markets." He added that every effort will be made to make the transition as smooth as possible for all concerned.
 Business will continue as usual at the Secor offices for some time, and customers will be kept informed of developments as they occur. Customers' deposits will continue to be insured up to $100,000, according to FDIC regulations.
 AmSouth Bank N.A. is a wholly owned subsidiary of AmSouth Bancorporation (NYSE: ASO). The corporation, headquartered in Birmingham, reported second quarter 1992 assets of more than $9.2 billion. The company operates 154 banking offices throughout Alabama, 24 offices in northwest Florida, and three in the Nashville area of Tennessee. The company also operates 14 mortgage banking offices in six southeastern states.
 AmSouth Bancorporation is listed on the New York Stock Exchange under the symbol ASO.
 -0- 8/17/92
 /CONTACT: Harvey E. Campbell of AmSouth Bank, 205-326-5316/
 (ASO SECR) CO: AmSouth Bank N.A.; Secor Bank, Federal Savings Bank; AmSouth
 Bancorporation ST: Alabama IN: FIN SU: TNM


EA-BN -- AT016 -- 0713 08/17/92 18:07 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
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