Printer Friendly

FIRST FEDERAL OFFICES OPEN FOR BUSINESS AS FULL-SERVICE AMSOUTH BANK OF TENNESSEE

 CHATTANOOGA, Tenn., Feb. 1 /PRNewswire/ -- First Chattanooga Financial Corporation, parent company of First Federal Bank, FSB, affiliated with AmSouth Bancorporation (NYSE: ASO) today, and First Federal's offices opened for business as AmSouth Bank of Tennessee, a full-service commercial bank.
 In conjunction with the affiliation, headquarters for AmSouth Bank of Tennessee was moved to Chattanooga from Nashville, where AmSouth presently operates three offices. Other AmSouth Bancorporation affiliates operate 176 banking offices throughout Alabama and northwest Florida, and the corporation's assets total approximately $10.75 billion.
 Members of First Chattanooga's board of directors will continue their duties as AmSouth Bank of Tennessee directors, with Spencer H. Wright as chairman. W. Charles Mayer III has been elected president and chief executive officer of AmSouth Bank of Tennessee. Mayer holds a bachelor's degree in economics from the University of the South in Sewanee and an M.B.A. degree from the University of Virginia and previously served as executive vice president and head of the corporate banking division of AmSouth Bank N.A., AmSouth's Alabama affiliate.
 Describing the affiliation, Wright said: "While today is marking a bright, new beginning, it also marks a continuation of our long-standing tradition of serving the people and businesses of the greater Chattanooga area. Our affiliation with AmSouth will result in more services and greater convenience for our customers. It will enable us to have a stronger, positive impact on continued economic growth in the communities we serve."
 Wright added, "We have worked to make the transition to AmSouth services as smooth as possible for all of our customers, and now we look forward to rewarding them with a greater selection of highly competitive products than ever before."
 AmSouth Bancorporation's Chairman and Chief Executive Officer John W. Woods issued the following statement: "The addition of First Federal to the AmSouth family is an important step towards building an even more dynamic Tennessee bank. As separate institutions, we shared many long- standing philosophies regarding the importance of customer service, skilled employees, quality and a genuine concern for the communities we serve. As a result, our affiliation reinforces several worthwhile mutual traditions which will continue to play important roles in our work in Chattanooga and throughout the mid-South."
 Mayer said: "We are very excited today to be entering the Chattanooga market. AmSouth has wanted to have a significant presence in Tennessee, and the merger with First Federal accomplishes that goal. We want to welcome First Federal's customers, employees and our new shareholders into the AmSouth family."
 Mayer added that while First Federal has been the number one residential lender in Chattanooga, AmSouth Bank of Tennessee will offer a complete package of consumer banking, commercial banking and trust services in addition to the current mortgage and deposit products.
 With the 18 former First Federal offices in Fayetteville, Cleveland, South Pittsburg, Dayton and Chattanooga, the state chartered AmSouth Bank of Tennessee now operates 21 banking offices. In addition, First Federal's former Summerville, Ga., office is now AmSouth Bank of Georgia, giving AmSouth an entry into the northwest Georgia banking market.
 AmSouth Bancorporation is headquartered in Birmingham, which also serves as headquarters for the corporation's lead bank, AmSouth Bank N.A., with 151 offices throughout Alabama. In addition to AmSouth Bank of Tennessee and the newly formed AmSouth Bank of Georgia, other AmSouth bank affiliates include AmSouth Bank of Florida with 23 banking offices in northwest Florida and AmSouth Bank of Walker County, Ala. Bank related affiliates include AmSouth Mortgage Company with 15 mortgage banking offices in eight southeastern states, AmSouth Investment Services, Inc., and AmSouth Leasing Corporation.
 On Jan. 21, AmSouth signed a definitive agreement to acquire The First National Bank of Clearwater, Fla. First National reported year- end 1992 assets of $458 million and operates 10 banking offices in Pinellas County, Fla.
 Mayer joined AmSouth in 1979 and served as manager of the Alabama bank's Metropolitan Commercial Loan Dept., the Bond Dept., and the Commercial Lending Group before being elected executive vice president and manager of the Corporate Banking Division in 1988. As Corporate Banking Division Head, Mayer was responsible for National Banking, Southeastern Banking, Cash Management, International, Commercial Finance, Commercial Real Estate, Correspondent Banking and Credit Administration.
 -0- 2/1/93
 /CONTACT: Bert Hicks (in Chattanooga), 615-752-1505, or Jim Underwood (in Birmingham) 205-326-5184, both of AmSouth Bancorporation/
 (ASO)


CO: AmSouth Bancorporation; AmSouth Bank of Tennessee ST: Alabama, Tennessee IN: FIN SU:

BN-BR -- AT003 -- 1287 02/01/93 10:49 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 1, 1993
Words:739
Previous Article:CENTRALIZED ADMINISTRATION OF TCP/IP NETWORKS VIA NEW CHAMELEON RELEASE NETCONTROL ALLOWS CENTRALIZED MANAGEMENT, DISTRIBUTION OF TCP/IP
Next Article:THE MICHIGAN CAR WASH ASSOCIATION NAMES FORD TAURUS THE YEAR'S MOST WASHABLE CAR
Topics:


Related Articles
AMSOUTH BANCORPORATION TO INCREASE QUARTERLY DIVIDEND 11.5 PERCENT TO $.29
AMSOUTH ANNOUNCES FEDERAL APPROVALS FOR FIRST CHATTANOOGA ACQUISITION
AMSOUTH BANCORPORATION SIGNS AGREEMENT TO ACQUIRE THE FIRST NATIONAL BANK OF CLEARWATER, FLA.
AMSOUTH ENTERS INTO LETTER OF INTENT TO ACQUIRE FIRST SUNBELT BANKSHARES
AMSOUTH BANCORPORATION SIGNS DEFINITIVE AGREEMENT TO ACQUIRE FIRST GULF BANK
AMSOUTH TO ACQUIRE MID-STATE FEDERAL SAVINGS BANK
AMSOUTH SIGNS DEFINITIVE AGREEMENT TO ACQUIRE FIRST SUNBELT BANKSHARES
AMSOUTH'S OFFER ACCEPTED BY FIRST NATIONAL BANK OF CLEARWATER
ORANGE BANK MERGES INTO AMSOUTH BANK OF FLORIDA
AMSOUTH AND COMMUNITY FEDERAL SAVINGS BANK SIGN DEFINITIVE AGREEMENT TO MERGE

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters