Form 8-K

(Investment Community)

List Underwood

(205) 801-0265

(News Media)

Rick Swagler

(205) 801-0105

To hear a webcast of the conference call with analysts at 2 p.m. CDT, Oct. 17, 2006, go to www.amsouth.com and click on the webcast link under “Message Center.” For supplemental financial information about the third quarter results, visit the Investor Relations Resource Center on AmSouth’s web site at www.amsouth.com/irrc.

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, F2+5//tRTLEnm4c37iiZFuSPVvzK9mLAmOUHDrwgJ1IspWuL0Qg9YE4QeRwWAIpI Xh/vrrCZyYUDB5mzCstnSA== 0001193125-06-208867.txt : 20061017 0001193125-06-208867.hdr.sgml : 20061017 20061017093133 ACCESSION NUMBER: 0001193125-06-208867 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20061017 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061017 DATE AS OF CHANGE: 20061017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMSOUTH BANCORPORATION CENTRAL INDEX KEY: 0000003133 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 630591257 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07476 FILM NUMBER: 061147636 BUSINESS ADDRESS: STREET 1: 1900 FIFTH AVENUE NORTH STREET 2: AMSOUTH CENTER CITY: BIRMINGHAM STATE: AL ZIP: 35203 BUSINESS PHONE: 2053207151 MAIL ADDRESS: STREET 1: 1900 FIFTH AVENUE STREET 2: AMSOUTH CENTER CITY: BIRMINGHAM STATE: AL ZIP: 35203 FORMER COMPANY: FORMER CONFORMED NAME: ALABAMA BANCORPORATION DATE OF NAME CHANGE: 19810527 FORMER COMPANY: FORMER CONFORMED NAME: FIRST BIRMINGHAM CORP DATE OF NAME CHANGE: 19741107 8-K 1 d8k.htm FORM 8-K Form 8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

October 17, 2006

AMSOUTH BANCORPORATION

(Exact name of registrant as specified in its charter)

DELAWARE

1-7476

63-0591257

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

AMSOUTH CENTER

1900 FIFTH AVENUE NORTH

BIRMINGHAM, ALABAMA 35203

(Address, including zip code, of principal executive office)

Registrant’s telephone number, including area code: (205) 320-7151

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On October 17, 2006 AmSouth Bancorporation issued a press release announcing its results of operations for the quarter ended September 30, 2006. A copy of the press release is attached hereto and incorporated herein as Exhibit 99.1. Supplemental financial information for the quarter ended September 30, 2006 is included as Exhibit 99.2 and may also be found on AmSouth’s website at www.amsouth.com. In accordance with general instruction B.2 of Form 8-K, this information is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 Press Release dated October 17, 2006

99.2 Supplemental Financial Information

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


AMSOUTH BANCORPORATION

By:		/s/ John D. Buchanan
Name:		John D. Buchanan
Title:		Executive Vice President,
		General Counsel and
		Corporate Secretary

Date: October 17, 2006

EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

News Release

AmSouth Bancorporation

Post Office Box 11007

Birmingham, Alabama 35288

LOGO

FOR IMMEDIATE RELEASE

AmSouth Reports Earnings for Third Quarter 2006

BIRMINGHAM, Ala., Oct. 17, 2006 – AmSouth Bancorporation (NYSE: ASO) today reported earnings for the third quarter ended Sept. 30, 2006, of $.54 per diluted share, compared to $.51 per diluted share reported for the third quarter of 2005. Net income for the third quarter of 2006 was a record $187.7 million and resulted in a return on average equity of 20.3 percent, a return on average assets of 1.38 percent, and an efficiency ratio of 51.8 percent.

“AmSouth continued to deliver solid results despite a very difficult interest rate environment,” said Dowd Ritter, AmSouth’s chairman, president and chief executive officer. “We are looking forward to completing our merger with Regions Financial Corp. in November, and we believe it will create a formidable franchise with stronger and more diverse sources of revenue.”

Net interest income in the third quarter was $388.8 million, an increase of 3.7 percent compared with the third quarter of 2005, as loans grew 11.7 percent. Commercial loan growth was particularly strong, increasing 17.5 percent compared with the third quarter of 2005, led by a 33.8 percent increase in commercial real estate lending compared with the prior year. Residential mortgages increased 9.4 percent compared with the third quarter of 2005.

Despite the solid loan growth, the net interest margin compressed to 3.19 percent as a result of the continued difficult interest rate environment and a shift in consumer preference toward higher cost time deposits. Although average total deposits increased 5.7 percent to $37.4 billion compared with the third quarter of 2005, low cost deposits declined 1.3 percent to $23.9 billion on the same basis.

Noninterest revenue, which includes earnings from service charges, trust, investment services, interchange, and other sources of fee income, was $248.4 million for the quarter, compared with $259.6 million for the same quarter in 2005, which included a gain of $44.0 million from the sale of the company’s mutual fund management business. Noninterest expenses in the third quarter were $335.7 million, essentially unchanged from the comparable quarter of last year.

Credit quality remained strong, with net charge-offs of $15.9 million or 0.17 percent of average net loans in the third quarter, a decrease of 2 basis points compared with the third quarter of 2005. The provision for loan losses totaled $25.5 million for the third quarter, while the ratio of loan loss allowance to total loans was 0.97 percent at Sept. 30, 2006.

Total nonperforming assets at Sept. 30, 2006, were $113.5 million, or 0.30 percent of loans net of unearned income, foreclosed properties and repossessions, compared to $98.1 million, or 0.29 percent for the quarter ended Sept. 30, 2005 and $109.4 million, or 0.29 percent, in the second quarter of this year.

For supplemental financial information about the third quarter results, please refer to the Form 8-K filed by AmSouth with the Securities and Exchange Commission on Oct. 17, 2006, or visit the Investor Relations Resource Center on AmSouth’s web site at www.amsouth.com.

About AmSouth

AmSouth is a regional bank holding company with $54 billion in assets, 700 branch banking offices and more than 1,200 ATMs. AmSouth operates in Florida, Tennessee, Alabama, Mississippi, Louisiana and Georgia. AmSouth is a leader among regional banks in the Southeast in several key business segments, including consumer and commercial banking, small business banking, mortgage lending, equipment leasing, and trust and investment management services. AmSouth also offers a complete line of banking products and services at its web site, www.amsouth.com.

Forward Looking Statements

Statements in this document that are not purely historical are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995), including any statements regarding descriptions of management’s plans, objectives or goals for future operations, products or services, and forecasts of its revenues, earnings or other measures of performance. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. A number of factors – many of which are beyond AmSouth’s control – could cause actual conditions, events or results to

differ materially from those described in the forward-looking statements. Such factors include, but are not limited to: the execution of AmSouth’s strategic initiatives; legislation and regulation; general economic conditions, especially in the Southeast; the performance of the stock and bond markets; changes in interest rates, yield curves and interest rate spread relationships; prepayment speeds within the loan and investment security portfolios; deposit flows; the cost of funds; cost of federal deposit insurance premiums; demand for loan products; demand for financial services; competition, including a continued consolidation in the financial services industry; changes in the quality or composition of AmSouth’s loan and investment portfolios including capital market inefficiencies that may affect the marketability and valuation of available-for-sale securities; changes in consumer spending and saving habits; technological changes; adverse changes in the financial performance and/or condition of AmSouth’s borrowers which could impact the repayment of such borrowers’ loans; changes in accounting and tax principles, policies or guidelines and in tax laws; other economic, competitive, governmental and regulatory factors affecting AmSouth’s operations, products, services and prices; the effects of weather and natural disasters, such as hurricanes; unexpected judicial actions and developments; results of investigations, examinations, and reviews of regulatory and law enforcement authorities; the outcome of litigation, which is inherently uncertain and depends on the findings of judges and juries; the impact on AmSouth’s businesses, as well as on the risks set forth above, of various domestic or international military or terrorist activities or conflicts; and AmSouth’s success at managing the risks involved in the foregoing. Forward-looking statements speak only as of the date they are made. AmSouth does not undertake a duty to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Unaudited

AmSouth Bancorporation

SUMMARY FINANCIAL INFORMATION

($ in thousands, except per share data)


*EARNINGS SUMMARY*
	Three Months Ended															Percent Change Versus Prior Year		YTD						Percent Change Versus Prior Year
	2006									2005								2006			2005
	September 30			June 30			March 31			December 31			September 30					September 30			September 30
Net interest income	$	388,754		$	402,785		$	397,720		$	392,150		$	374,733		3.7	%	$	1,189,259		$	1,133,124		5.0	%
Provision for loan and lease losses		25,500			24,000			27,300			20,850			34,800		(26.7	)%		76,800			73,100		5.1	%

Net interest income after provision		363,254			378,785			370,420			371,300			339,933		6.9	%		1,112,459			1,060,024		4.9	%
Noninterest revenues		248,407			231,381			219,683			216,944			259,649		(4.3	)%		699,471			698,236		0.2	%
Noninterest expenses		335,702			339,555			330,002			320,559			336,905		(0.4	)%		1,005,259			971,364		3.5	%

Income before income taxes		275,959			270,611			260,101			267,685			262,677		5.1	%		806,671			786,896		2.5	%
Income taxes		88,303			85,930			79,110			85,552			82,349		7.2	%		253,343			243,324		4.1	%

Net income	$	187,656		$	184,681		$	180,991		$	182,133		$	180,328		4.1	%	$	553,328		$	543,572		1.8	%


Earnings per common share - basic	$	0.55		$	0.54		$	0.52		$	0.52		$	0.52		5.8	%	$	1.61		$	1.54		4.5	%
Earnings per common share - diluted		0.54			0.53			0.52			0.52			0.51		5.9	%		1.58			1.52		3.9	%
Cash dividends declared per common share		0.26			0.26			0.26			0.26			0.25		4.0	%		0.78			0.75		4.0	%
Weighted-average common shares outstanding - basic		343,295			344,647			345,433			347,201			349,346					344,451			351,881
Weighted-average common shares outstanding - diluted		348,842			349,647			350,743			351,811			354,654					349,737			356,816
End of period common shares outstanding		343,543			341,431			346,590			348,072			348,562					343,543			348,562

*KEY PERFORMANCE RATIOS*
	Three Months Ended																	YTD
	2006									2005								2006			2005
	September 30			June 30			March 31			December 31			September 30					September 30			September 30
Average shareholders’ equity to average total assets		6.78	%		6.76	%		6.79	%		6.87	%		7.06	%				6.78	%		7.04	%
End of period shareholders’ equity to end of period total assets		7.05			6.64			6.84			6.91			7.00					7.05			7.00
Return on average assets (annualized)		1.38			1.39			1.39			1.40			1.41					1.39			1.44
Return on average shareholders’ equity (annualized)		20.31			20.59			20.52			20.36			20.02					20.47			20.47
Net interest margin - taxable equivalent		3.19			3.39			3.42			3.37			3.31					3.33			3.38
Efficiency ratio		51.80			52.65			52.53			51.71			52.22					52.32			52.12
Loans net of unearned income to total deposits		101.09			100.04			98.97			98.76			96.23					101.09			96.23
Book value per common share	$	11.15		$	10.48		$	10.44		$	10.44		$	10.26				$	11.15		$	10.26
Tangible book value per common share		10.29			9.62			9.58			9.59			9.41					10.29			9.41

Unaudited

AmSouth Bancorporation

SUMMARY FINANCIAL INFORMATION

($ in thousands)

BALANCE SHEET INFORMATION

AVERAGE BALANCES


	Three Months Ended										Percent Change Versus Prior Year		YTD				Percent Change Versus Prior Year
	2006						2005						2006		2005
	September 30		June 30		March 31		December 31		September 30				September 30		September 30
Loans net of unearned income	$	37,724,857	$	37,012,965	$	36,344,524	$	34,993,552	$	33,765,529	11.7	%	$	37,032,505	$	33,447,240	10.7	%
Total investment securities *		11,463,056		11,526,166		11,530,789		11,792,136		11,969,618	(4.2	)%		11,506,422		12,289,601	(6.4	)%
Interest-earning assets *		49,731,740		48,937,299		48,394,488		47,373,341		46,276,262	7.5	%		49,026,074		46,072,226	6.4	%
Total assets		54,038,641		53,182,063		52,708,707		51,673,254		50,635,581	6.7	%		53,314,675		50,425,573	5.7	%
Noninterest-bearing deposits		7,649,345		7,948,217		7,956,264		7,949,605		7,565,672	1.1	%		7,850,151		7,416,354	5.8	%
Interest-bearing deposits**		29,794,471		29,118,925		28,790,160		28,166,662		27,848,894	7.0	%		29,238,198		27,581,253	6.0	%
Total deposits**		37,443,816		37,067,142		36,746,424		36,116,267		35,414,566	5.7	%		37,088,349		34,997,607	6.0	%
Shareholders’ equity		3,665,487		3,597,112		3,576,492		3,548,566		3,572,805	2.6	%		3,613,356		3,550,546	1.8	%

*	Excludes adjustment for market valuation on available-for-sale securities and certain noninterest-earning marketable equity securities.

**	Statement 133 valuation adjustments related to time deposits and other interest-bearing liabilities are included in other liabilities.

BALANCE SHEET INFORMATION

ENDING BALANCES


											Percent Change Versus Prior Year
	2006						2005
	September 30		June 30		March 31		December 31		September 30
Loans net of unearned income	$	38,010,971	$	37,454,093	$	36,737,948	$	35,897,939	$	34,335,169	10.7	%
Total investment securities		11,125,315		11,389,462		11,394,687		11,669,483		11,855,712	(6.2	)%
Interest-earning assets		49,748,412		49,372,999		48,491,173		48,072,394		46,779,359	6.3	%
Total assets		54,272,800		53,929,814		52,858,162		52,607,110		51,105,385	6.2	%
Noninterest-bearing deposits		7,582,057		8,188,068		8,291,134		8,233,137		8,022,022	(5.5	)%
Interest-bearing deposits		30,020,844		29,249,432		28,828,184		28,115,245		27,658,103	8.5	%
Total deposits		37,602,901		37,437,500		37,119,318		36,348,382		35,680,125	5.4	%
Shareholders’ equity		3,828,845		3,579,061		3,617,742		3,634,577		3,577,455	7.0	%

Unaudited

AmSouth Bancorporation

SUMMARY FINANCIAL INFORMATION

($ in thousands)

NONPERFORMING ASSETS


	2006									2005
	September 30			June 30			March 31			December 31			September 30
Nonaccrual loans*	$	99,605		$	94,892		$	84,150		$	102,981		$	80,421
Foreclosed properties		11,668			12,684			14,566			17,667			15,853
Repossessions		2,182			1,833			1,599			2,274			1,869

Total nonperforming assets*	$	113,455		$	109,409		$	100,315		$	122,922		$	98,143

Nonperforming assets to loans net of unearned income, foreclosed properties and repossessions		0.30	%		0.29	%		0.27	%		0.34	%		0.29	%
Accruing loans 90 days past due	$	52,213		$	43,542		$	49,208		$	54,005		$	52,404

_________
* Exclusive of accruing loans 90 days past due

*ALLOWANCE FOR LOAN AND LEASE LOSSES*

	2006									2005
	3rd Quarter			2nd Quarter			1st Quarter			4th Quarter			3rd Quarter
Balance at beginning of period	$	359,092		$	352,242		$	366,695		$	384,647		$	365,626
Loans charged off		(24,480	)		(25,926	)		(50,571	)		(47,314	)		(23,926	)
Recoveries of loans previously charged off		8,583			8,776			8,818			8,512			8,147

Net Charge-offs		(15,897	)		(17,150	)		(41,753	)		(38,802	)		(15,779	)
Addition to allowance charged to expense		25,500			24,000			27,300			20,850			34,800

Balance at end of period	$	368,695		$	359,092		$	352,242		$	366,695		$	384,647

Allowance for loan and lease losses to loans net of unearned income		0.97	%		0.96	%		0.96	%		1.02	%		1.12	%
Net charge-offs to average loans net of unearned income *		0.17	%		0.19	%		0.47	%		0.44	%		0.19	%
Allowance for loan and lease losses to nonperforming loans**		370.16	%		378.42	%		418.59	%		356.08	%		478.29	%
Allowance for loan and lease losses to nonperforming assets**		324.97	%		328.21	%		351.14	%		298.32	%		391.93	%

*	Annualized

**	Exclusive of accruing loans 90 days past due

EX-99.2 3 dex992.htm SUPPLEMENTAL FINANCIAL INFORMATION Supplemental Financial Information

Exhibit 99.2

Unaudited

AmSouth Bancorporation

CONSOLIDATED QUARTERLY STATEMENTS OF EARNINGS

($ in thousands, except per share data)


	2006						2005
	September 30		June 30		March 31		December 31		September 30
INTEREST INCOME
Loans	$	632,556	$	598,190	$	558,610	$	524,840	$	481,387
Available-for-sale securities		73,297		72,156		69,301		71,646		69,887
Held-to-maturity securities		63,374		65,100		66,513		67,092		68,828
Trading securities		398		339		414		350		278
Loans held for sale		7,048		5,162		4,905		6,296		5,675
Other interest-earning assets		1,111		696		687		680		459

Total interest income		777,784		741,643		700,430		670,904		626,514

INTEREST EXPENSE
Interest-bearing demand		44,052		42,051		36,394		26,780		23,748
Money market and savings deposits		56,795		51,159		44,212		43,981		42,394
Time deposits		136,571		111,090		96,950		88,021		79,496
Foreign deposits		15,644		11,365		10,851		13,154		11,084
Federal funds purchased and securities sold under agreements to repurchase		44,273		40,878		38,655		30,926		23,497
Other borrowed funds		23,145		11,887		7,376		5,561		4,563
Long-term Federal Home Loan Bank advances		23,511		25,324		24,853		26,621		31,193
Other long-term debt		45,039		45,104		43,419		43,710		35,806

Total interest expense		389,030		338,858		302,710		278,754		251,781

NET INTEREST INCOME		388,754		402,785		397,720		392,150		374,733
Provision for loan and lease losses		25,500		24,000		27,300		20,850		34,800

NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES		363,254		378,785		370,420		371,300		339,933

NONINTEREST REVENUES
Service charges on deposit accounts		102,938		103,308		95,105		95,388		95,141
Trust income		23,614		24,124		23,763		23,354		29,439
Consumer investment services income		23,109		24,139		21,942		18,312		18,668
Interchange income		26,235		25,714		24,735		24,657		22,884
Commercial credit fee income		12,231		10,768		11,480		10,478		12,178
Bank owned life insurance policies		11,290		11,294		10,983		10,793		11,386
Mortgage income		3,549		3,345		3,388		2,046		5,873
Portfolio income		2,495		203		592		684		301
Net gain on sale of mutual fund management unit		-0-		-0-		-0-		-0-		44,007
Other noninterest revenues		42,946		28,486		27,695		31,232		19,772

Total noninterest revenues		248,407		231,381		219,683		216,944		259,649

NONINTEREST EXPENSES
Salaries and employee benefits		193,106		192,446		184,152		174,027		174,055
Net occupancy		39,854		38,760		38,834		38,039		38,342
Equipment		31,643		31,763		31,358		31,200		31,876
Postage and office supplies		9,741		9,833		9,653		9,397		10,071
Marketing		8,471		12,002		13,260		7,609		10,698
Professional fees		4,999		8,019		6,342		13,990		12,130
Communications		6,123		5,971		6,120		6,038		6,027
Amortization of intangibles		419		487		541		613		637
Other noninterest expenses		41,346		40,274		39,742		39,646		53,069

Total noninterest expenses		335,702		339,555		330,002		320,559		336,905

INCOME BEFORE INCOME TAXES		275,959		270,611		260,101		267,685		262,677
Income taxes		88,303		85,930		79,110		85,552		82,349

NET INCOME	$	187,656	$	184,681	$	180,991	$	182,133	$	180,328

Weighted-average common shares outstanding - basic		343,295		344,647		345,433		347,201		349,346
Earnings per common share - basic	$	0.55	$	0.54	$	0.52	$	0.52	$	0.52
Weighted-average common shares outstanding - diluted		348,842		349,647		350,743		351,811		354,654
Earnings per common share - diluted	$	0.54	$	0.53	$	0.52	$	0.52	$	0.51

Unaudited

AmSouth Bancorporation

QUARTERLY AVERAGE DAILY BALANCES, REVENUE & EXPENSE SUMMARY, YIELDS & RATES

(Taxable equivalent basis, $ in thousands)


	Three Months Ended September 30, 2006							Three Months Ended June 30, 2006							Three Months Ended March 31, 2006							Three Months Ended December 31, 2005							Three Months Ended September 30, 2005
	Average Balance			Revenue/ Expense		Yield/ Rate		Average Balance			Revenue/ Expense		Yield/ Rate		Average Balance			Revenue/ Expense		Yield/ Rate		Average Balance			Revenue/ Expense		Yield/ Rate		Average Balance			Revenue/ Expense		Yield/ Rate
ASSETS
Interest-earning assets:
Commercial and commercial real estate	$	20,041,751		$	354,348	7.01	%	$	19,492,112		$	331,471	6.82	%	$	18,872,184		$	304,439	6.54	%	$	17,890,194		$	280,487	6.22	%	$	17,055,819		$	253,640	5.90	%
Residential first mortgages		6,218,410			84,542	5.39	%		6,078,445			80,488	5.31	%		6,070,856			79,599	5.32	%		5,914,872			77,532	5.20	%		5,685,620			72,459	5.06	%
Equity loans and lines		8,101,139			147,808	7.24	%		8,073,014			142,212	7.07	%		7,970,946			131,595	6.70	%		7,639,452			120,742	6.27	%		7,443,993			108,869	5.80	%
Dealer indirect		2,941,628			41,920	5.65	%		2,940,262			40,070	5.47	%		2,992,386			39,302	5.33	%		3,088,347			42,090	5.41	%		3,110,615			41,898	5.34	%
Other consumer		421,929			10,355	9.74	%		429,132			10,290	9.62	%		438,152			10,057	9.31	%		460,687			10,323	8.89	%		469,482			10,841	9.16	%

Total loans net of unearned income (1)		37,724,857			638,973	6.72	%		37,012,965			604,531	6.55	%		36,344,524			564,992	6.30	%		34,993,552			531,174	6.02	%		33,765,529			487,707	5.73	%
Available-for-sale securities, amortized cost		6,178,600			73,877	4.74	%		6,089,613			72,701	4.79	%		5,961,800			69,828	4.75	%		6,076,977			72,197	4.71	%		6,065,719			70,403	4.60	%
Market valuation on AFS securities		(238,066	)						(250,466	)						(168,590	)						(160,331	)						(74,193	)

Total available-for-sale securities (2)		5,940,534							5,839,147							5,793,210							5,916,646							5,991,526
Held-to-maturity securities		5,284,456			67,292	5.05	%		5,436,554			69,019	5.09	%		5,568,989			70,448	5.13	%		5,715,159			71,046	4.93	%		5,903,899			72,788	4.89	%

Total investment securities (3)		11,224,990			141,169	4.89	%		11,275,701			141,720	4.93	%		11,362,199			140,276	4.93	%		11,631,805			143,243	4.82	%		11,895,425			143,191	4.75	%
Other interest-earning assets		543,827			8,557	6.24	%		398,167			6,197	6.24	%		519,175			6,006	4.69	%		587,653			7,326	4.95	%		541,115			6,412	4.70	%

Total interest-earning assets (3)		49,493,674			788,699	6.29	%		48,686,833			752,448	6.17	%		48,225,898			711,274	5.96	%		47,213,010			681,743	5.71	%		46,202,069			637,310	5.46	%
Cash and due from banks		1,081,179							1,103,675							1,141,977							1,172,698							1,160,908
Other assets		3,824,407							3,748,418							3,699,438							3,671,435							3,640,629
Allowance for loan and lease losses		(360,619	)						(356,863	)						(358,606	)						(383,889	)						(368,025	)

	$	54,038,641						$	53,182,063						$	52,708,707						$	51,673,254						$	50,635,581

LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities:
Interest-bearing demand	$	7,160,875			44,052	2.44	%	$	7,540,377			42,051	2.24	%	$	7,590,274			36,394	1.94	%	$	6,873,532			26,780	1.55	%	$	6,809,041			23,748	1.38	%
Money market and savings deposits		9,120,176			56,795	2.47	%		9,397,229			51,159	2.18	%		9,497,343			44,212	1.89	%		9,785,221			43,981	1.78	%		9,870,250			42,394	1.70	%
Time deposits (4)		11,799,817			136,571	4.59	%		10,742,768			111,090	4.15	%		10,284,695			96,950	3.82	%		9,790,672			88,021	3.57	%		9,520,049			79,496	3.31	%
Foreign deposits		1,713,603			15,644	3.62	%		1,438,551			11,365	3.17	%		1,417,848			10,851	3.10	%		1,717,237			13,154	3.04	%		1,649,554			11,084	2.67	%
Federal funds purchased and securities sold under agreements to repurchase		4,053,304			44,273	4.33	%		3,993,545			40,878	4.11	%		4,103,167			38,655	3.82	%		3,641,774			30,926	3.37	%		3,286,028			23,497	2.84	%
Other interest-bearing liabilities (4)		7,019,737			91,695	5.18	%		6,730,475			82,315	4.91	%		6,496,420			75,648	4.72	%		6,634,179			75,892	4.54	%		6,661,718			71,562	4.26	%

Total interest-bearing liabilities		40,867,512			389,030	3.78	%		39,842,945			338,858	3.41	%		39,389,747			302,710	3.12	%		38,442,615			278,754	2.88	%		37,796,640			251,781	2.64	%

Net interest spread (3)						2.51	%						2.76	%						2.84	%						2.83	%						2.82	%

Noninterest-bearing demand deposits		7,649,345							7,948,217							7,956,264							7,949,605							7,565,672
Other liabilities (4)		1,856,297							1,793,789							1,786,204							1,732,468							1,700,464
Shareholders’ equity		3,665,487							3,597,112							3,576,492							3,548,566							3,572,805

	$	54,038,641						$	53,182,063						$	52,708,707						$	51,673,254						$	50,635,581

Net interest income/margin on a taxable equivalent basis (3)					399,669	3.19	%					413,590	3.39	%					408,564	3.42	%					402,989	3.37	%					385,529	3.31	%

Taxable equivalent adjustment:(5)
Loans					6,417							6,341							6,382							6,334							6,320
Available-for-sale securities					580							545							527							551							516
Held-to-maturity securities					3,918							3,919							3,935							3,954							3,960
Total taxable equivalent adjustment					10,915							10,805							10,844							10,839							10,796

Net interest income				$	388,754						$	402,785						$	397,720						$	392,150						$	374,733

NOTES:

(1)	Loans net of unearned income includes nonaccrual loans for all periods presented.

(2)	Available-for-sale securities excludes certain noninterest-earning, marketable equity securities.

(3)	The yield calculation for available-for-sale securities, total investment securities, total interest-earning assets, net interest spread and net interest margin excludes the market valuation adjustment on available-for-sale securities.

(4)	Statement 133 valuation adjustments related to time deposits and other interest-bearing liabilites are included in other liabilities.

(5)	The taxable equivalent adjustment has been computed using a federal income tax rate of 35%, adjusted for applicable state income taxes net of the related federal tax benefit.

Unaudited

AmSouth Bancorporation

CONSOLIDATED PERIOD-END BALANCE SHEETS

($ in thousands)


	2006									2005
	September 30			June 30			March 31			December 31			September 30
ASSETS
Cash and due from banks	$	1,048,007		$	1,233,527		$	1,110,025		$	1,307,043		$	1,223,228
Trading securities		7,603			4,553			5,672			30,419			39,186
Available-for-sale securities		5,895,076			6,000,551			5,854,279			5,989,989			6,033,746
Held-to-maturity securities		5,230,239			5,388,911			5,540,409			5,679,494			5,821,967
Loans held for sale		495,348			371,034			276,420			406,553			460,816
Loans net of unearned income:
Commercial and industrial		6,167,426			6,046,262			6,068,331			6,173,403			6,041,712
Commercial loans - secured by real estate		3,312,202			3,207,313			2,921,517			2,700,353			2,489,973
Commercial leases		2,529,068			2,459,612			2,379,465			2,370,986			2,342,161
Commercial real estate mortgages		3,007,776			3,085,297			3,068,493			3,203,030			3,083,242
Real estate construction		5,320,873			5,005,958			4,827,188			4,085,369			3,508,763
Residential first mortgages		6,262,729			6,180,230			6,078,210			6,016,157			5,826,851
Equity loans and lines		8,070,447			8,113,323			8,022,254			7,859,133			7,479,750
Dealer indirect		2,935,549			2,941,639			2,960,112			3,047,117			3,116,305
Other consumer		404,901			414,459			412,378			442,391			446,412

Total loans net of unearned income		38,010,971			37,454,093			36,737,948			35,897,939			34,335,169
Allowance for loan and lease losses		(368,695	)		(359,092	)		(352,242	)		(366,695	)		(384,647	)
Other interest-earning assets		109,175			153,858			76,445			68,000			88,476
Premises and equipment, net		1,327,616			1,256,266			1,227,287			1,200,114			1,088,322
Cash surrender value - bank owned life insurance		1,190,729			1,179,535			1,167,701			1,156,265			1,144,048
Goodwill and other intangibles		293,147			294,344			295,736			296,582			298,205
Accrued interest receivable and other assets		1,033,584			952,234			918,482			941,407			956,869

	$	54,272,800		$	53,929,814		$	52,858,162		$	52,607,110		$	51,105,385

LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits and interest-bearing liabilities:
Deposits:
Noninterest-bearing demand	$	7,582,057		$	8,188,068		$	8,291,134		$	8,233,137		$	8,022,022
Interest-bearing demand		7,139,342			7,602,285			7,826,012			7,299,655			6,838,125
Money market and savings		8,957,921			9,226,388			9,561,009			9,513,548			9,928,034
Time		12,436,005			10,736,886			10,424,392			9,928,485			9,710,125
Foreign		1,487,576			1,683,873			1,016,771			1,373,557			1,181,819

Total deposits		37,602,901			37,437,500			37,119,318			36,348,382			35,680,125
Federal funds purchased and securities sold under agreements to repurchase		4,573,529			3,628,577			3,923,273			4,404,262			3,374,744
Other borrowed funds		1,486,790			1,839,609			493,673			511,625			681,618
Long-term Federal Home Loan Bank advances		1,677,302			1,828,225			1,930,927			1,958,730			2,388,222
Other long-term debt		3,144,206			3,717,683			3,947,960			4,025,941			3,634,730

Total deposits and interest-bearing liabilities		48,484,728			48,451,594			47,415,151			47,248,940			45,759,439
Accrued expenses and other liabilities		1,959,227			1,899,159			1,825,269			1,723,593			1,768,491

Total liabilities		50,443,955			50,350,753			49,240,420			48,972,533			47,527,930

Shareholders’ equity:
Preferred stock		-0-			-0-			-0-			-0-			-0-
Common stock		416,339			416,606			416,719			416,706			416,723
Additional paid-in capital		760,995			752,491			743,634			738,011			734,850
Retained earnings		4,086,913			3,999,804			3,917,314			3,844,183			3,755,478
Treasury stock		(1,295,036	)		(1,361,881	)		(1,267,610	)		(1,208,874	)		(1,196,160	)
Deferred compensation on restricted stock		-0-			-0-			-0-			(14,083	)		(14,733	)
Accumulated other comprehensive loss		(140,366	)		(227,959	)		(192,315	)		(141,366	)		(118,703	)

Total shareholders’ equity		3,828,845			3,579,061			3,617,742			3,634,577			3,577,455

	$	54,272,800		$	53,929,814		$	52,858,162		$	52,607,110		$	51,105,385

Unaudited

AmSouth Bancorporation

CREDIT QUALITY STATISTICS

($ in thousands)


	Three Months Ended
	2006									2005
*NET CHARGE-OFFS/(RECOVERIES)*	September 30			June 30			March 31			December 31			September 30
Commercial:
Commercial & industrial	$	8,595		$	10,789		$	6,760		$	29,154		$	5,674
Commercial loans - secured by real estate		374			(25	)		377			559			2
Commercial leases		-0-			(30	)		26,904			582			263

Total commercial		8,969			10,734			34,041			30,295			5,939

Commercial real estate:
Commercial real estate mortgages		546			229			580			(22	)		(9	)
Real estate construction		(527	)		32			2			(2	)		20

Total commercial real estate		19			261			582			(24	)		11

Consumer:
Residential first mortgages		349			572			379			648			239
Equity loans and lines		1,631			2,067			2,888			2,588			3,313
Dealer indirect		1,664			324			1,492			2,412			2,472
Other consumer		3,265			3,192			2,371			2,883			3,805

Total consumer		6,909			6,155			7,130			8,531			9,829

	$	15,897		$	17,150		$	41,753		$	38,802		$	15,779

*NET CHARGE-OFFS AS A PERCENT OF AVERAGE LOANS (Annualized)*
Commercial:
Commercial & industrial		0.56	%		0.71	%		0.45	%		1.91	%		0.38	%
Commercial loans - secured by real estate		0.05			0.00			0.05			0.09			0.00
Commercial leases		0.00			0.00			4.60			0.10			0.05

Total commercial		0.30			0.37			1.22			1.09			0.22

Commercial real estate:
Commercial real estate mortgages		0.07			0.03			0.08			0.00			0.00
Real estate construction		(0.04	)		0.00			0.00			0.00			0.00

Total commercial real estate		0.00			0.01			0.03			0.00			0.00

Consumer:
Residential first mortgages		0.02			0.04			0.03			0.04			0.02
Equity loans and lines		0.08			0.10			0.15			0.13			0.18
Dealer indirect		0.22			0.04			0.20			0.31			0.32
Other consumer		3.07			2.98			2.19			2.48			3.22

Total consumer		0.16			0.14			0.17			0.20			0.23

		0.17	%		0.19	%		0.47	%		0.44	%		0.19	%

Unaudited

AmSouth Bancorporation

CREDIT QUALITY STATISTICS (continued)

($ in thousands)


	2006						2005
NONPERFORMING LOANS*	September 30		June 30		March 31		December 31		September 30
Commercial:
Commercial & industrial	$	37,204	$	41,774	$	36,967	$	39,542	$	44,014
Commercial loans - secured by real estate		16,196		17,515		16,267		17,838		15,748
Commercial leases		15,571		3,438		1,689		27,374		1,871

Total commercial		68,971		62,727		54,923		84,754		61,633

Commercial real estate:
Commercial real estate mortgages		12,850		7,813		3,886		4,498		4,668
Real estate construction		6,560		4,080		7,681		2,946		2,121

Total commercial real estate		19,410		11,893		11,567		7,444		6,789

Consumer:
Residential first mortgages		10,388		18,547		15,871		8,817		10,542
Equity loans and lines		835		1,724		1,787		1,965		1,404
Dealer indirect		1		1		2		1		24
Other consumer		-0-		-0-		-0-		-0-		29

Total consumer		11,224		20,272		17,660		10,783		11,999

	$	99,605	$	94,892	$	84,150	$	102,981	$	80,421

_________

* Exclusive of accruing loans 90 days past due.

*ACCRUING LOANS 90 DAYS PAST DUE*	2006						2005
*ACCRUING LOANS 90 DAYS PAST DUE*	September 30		June 30		March 31		December 31		September 30
Commercial:
Commercial & industrial	$	495	$	334	$	269	$	1,258	$	1,665
Commercial loans - secured by real estate		238		41		476		36		1,023
Commercial leases		-0-		-0-		-0-		-0-		-0-

Total commercial		733		375		745		1,294		2,688

Commercial real estate:
Commercial real estate mortgages		-0-		41		187		656		72
Real estate construction		-0-		145		187		122		978

Total commercial real estate		-0-		186		374		778		1,050

Consumer:
Residential first mortgages		21,430		16,947		19,983		20,962		19,688
Equity loans and lines		27,431		23,671		25,684		26,762		25,279
Dealer indirect		1,738		1,438		1,483		3,065		2,644
Other consumer		881		925		939		1,144		1,055

Total consumer		51,480		42,981		48,089		51,933		48,666

	$	52,213	$	43,542	$	49,208	$	54,005	$	52,404

Unaudited

AmSouth Bancorporation

OTHER INFORMATION


	2006						2005
*REGULATORY CAPITAL RATIOS*	September 30*		June 30		March 31		December 31		September 30
Tier 1 capital ratio
AmSouth	7.82	%	7.51	%	7.66	%	7.71	%	7.90	%
AmSouth Bank	8.30		8.02		8.20		8.47		8.80

Total capital ratio
AmSouth	10.98	%	10.71	%	10.91	%	11.26	%	11.31	%
AmSouth Bank	11.01		10.75		10.97		11.45		11.97

Leverage ratio
AmSouth	6.90	%	6.62	%	6.68	%	6.74	%	6.72	%
AmSouth Bank	7.32		7.06		7.13		7.41		7.49

* Third quarter 2006 regulatory capital ratios based on preliminary data.

GRAPHIC 4 g34350image001.jpg GRAPHIC begin 644 g34350image001.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$" M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#_\``$0@`%P!^`P$1``(1`0,1`?_$`)8```$%`0$````````` M``````D%!@<("@`+`0`"`P`#`0`````````````#!@0%"`('"0`0```&`@$# M!`$$`@,!``````$"`P0%!@<("0`1$B$3%`H6,2(C%4$786(G&!$``0,"!0," M`P8&`@,``````0(#!!$%`"$2!@P=_^1']`Z^Q]\NN`=%_'U'(W'.XN1[U)D1[9:76HL1#:053)SZVTHCIJDZ@.ZBNG MZLC[8HYUX;M[[+#M"I2B5_!`KG_3^*X#1JS]JK*.8-PL(8@RWK12,78!SMDY MM4ZUD=:;M;>Q,JG:Y][4Z5:?*68HU^7:(6))%O)+H>+ M^W[#PWM-&5%-"K4%4-36N*.)NM:K M@&9*:1E*50_"IT]*?#&J;;7=[671FH5R_P"TV6HG$]1MMB+4JY)R4=,2@R]A M^&XD31S9I!14;@EJKG:L9>>41" M(=6]A"MI=C(5]M.+2+>)7>L)J*C7((/EHIY M1`'?;'C!SWO.Q,[DVWMJ<_9Y*4J;<&FBDJ%0150J*4/M0XK9&X;3#7V77%%8 M_P#4U^X8SR;4?90VMS[M.UUBX;\-0>9T$A=$B[Q8:/.6ZQ926C(P)2P2-8IB MKZJ)U:F0293D^=(J"JO[9E!!,ADP-L'8W@GL_9/'SF_/*:\R[`SW`4MMJ:&E M*ZZ6R0A>I?3IGZ4-*F@F;HFS)*8MD:!KZD5)^.>0]^G\L(JF]'VV%04$FEE: M;>`G$/\`P^N@4_?L!"D%?)INQ0,8``1'N/KZ^G03QI^W8AM:6]VW5UY*3I'< M-5U02DY,```T"JT^S!DM[T*LU)S/IVC\Q_B?OSQIIN/()A[3G6C#.0N1+,6- M\&9:L6,*9*WVEK/$UK$[R`X@(T]TCJA0H!2>LDLSC+"JLD/PTW**/;Q%40[" M.(-O\1;QY-WI<+)Q%;Y5VM#DW>,F\9V6QN3B M?VVE4C[Y&0!K,Z,"8F!!D*Z_CZ^/5_R/XSUB?;LR$ZEO,#\PA`] MUJ9*PGKZTP*)>K=3+3S:_.^5]:<&Y2>6_,F$D[$KD MNK+T:Z5Y.NDJEK2I4X`S,_!Q\+(F9V-/?+',=ME7/CRVIG18;G;=47V6M*Z!5*.+0>A!J,L\`F M7:!;5AN8HA9Z"GI]GVXILK]E_AS3+YAM'*J=O3P1PIF=0YQ_ZE_!N_\`CKMC M_H7Y1U0@6!E2W!4$38BA[TR?-#3T.*]W=%F!TI<57K4"OV>V$LWV1C'KVHK,%9 M))\K"OFR$JU7,U1,/L*)%6`2]A+W'K*]]VQ>]M[LE;&O#3;.YHLU4130=0H= MY*]"@%I44D!5:D&F77%\RZ)$83&E?@D5'R_CXX&CCSGOXV\IX4V&V%I^4[P\ MQAJV7&*V7I=WB.^Q[^(2R_=VN.Z0I$PKJ'))V!-[:7J:"_QDSBV(;W%.Q`$> MNZKMXE\\6+=5JV=H``#UGIB+-EN(;BM+/+PWSV\=Y_O_(9O&P/(/#[0Y)0T1U7`J1QE&&$**E"SV6)J(8I' M,<#/J=%U^*.*1A]Q2UNB&+W,;M[M\.<=Q]IVW9?$;RV"S8;:K<=U6MS2T)LA MMQ4-I\Z:(+3LBHUE52TBB14''6%SN#$R5(?0E2E.40V*?Z@C4?N/3WQ#G*-M M=JKL-BC1&`U3PEGO#,[J#B-##$W8\DUV(K\=.13%:+GH.18R,#*21S64EZ4E MGYUE00,<[\Q@#R]`9_&+9&^[#NK>HY(NUCNMOW5,=DMLQY)>4I+RU-N-_4E( MH&`VA(2"$I01TZ@OA!4Y"AK>CJ"=*0VI2WVAIK4!*%!%:D5%<6E^DM3K'$>]2HC[:4/SQ6 M/BUR;!<-7*[D*E9#LQHW#>4-15K+$V.TBFW3GHRR8:KNQF+5U'*)D&)73J8C MG$,DH!#"==44@`#'$.G/R+MDCRU\=K?N>P6]4O==EW$8SK;6HJ2I+Y9>&JM/ MPT#6HD4`4#3+,5E=D6*'_J3/HY%(0.!/YC@(?M#K9NR-Z6/:N^[7 MX\;>"4BW;91*>`J"A(*&DBE,SUZFOT],\4DR--ELKO;ND-%W32G4GUK["GMC M13B[@:WPK]?TSWZXH,LU^F3>1M;<47NTF;("[8XMEM_$4(YVZQQDVBR$TFW6G/QJSLHJOQ$Q7W$Y%LG`M M7391$P%0.!%2F+V'GL/CWP4\H),[9?&ELDVZ^,QNXEU+2HRP@&FL:BK6GHE2 M:^H)IE7F_(W+8E)E3'0ID]174/3^7SQ4G0>QUCG$YU8R\;E0KF7IEVC;I?8_ M$HS3M:N,HG%E.1>4K%B:AQ2<*4IBJU%P[;I@F:0\%?>[^\J(O?,UIG>'_B,_ M8.*GU,WMM3(>FI:2A]:7)2$%PDZDZEA6GI05'MB+;'&[_?@Y(;U,**CIU9`! M)/MG0C[\$`^T5Q]ZKZDU'5W9[6#'-N$ M1"0Y&[6"M=8EH[Q%^U]I14BR7D(G(0W737[=O*&].4KUN3CWDJ2N][0,$/*1 M*/<4-84%)[BLQJ'O7H:9&F+#=%OA6QI,F$GMNE7H3F91VLX4,N^>.UU3KKG]3"8PF'ID_<\L M,*R\1;4B6J(F+:H,QQNJ2K0@=E7;`'1*0``.@]`!B-LI3CMP=<6JJBGUZFIQ M,OV=(J(GN77C/@['&LY:O3=5Q%$S<3(-RNHZ7AI'9F08RD=(MU"^#M@^9*G2 M62'T,F8P#^O2#X*3I$7QZY$D0GG6IK:7"A39%4N)C`@@T/K3^N)>YP7;Q&:7 MI&8ZBN14<^N=?[8CO[7FJVM^LDKI(XU[P5BC"R%L_P!R)6I'&-'K]-3L(Q3C M'YHXTPC",FB+\&";]FO]N;D#?.Z;3O/]>N/F$C-0D:R>O&KMXBFLJ54Y@4 M43`P^OKTC?M[[]WW?O(.[VV_7>?.C?I4@]M]YQQ`TRV$DA*U$)R4:4I09=,2 M-U0VV;:E;2&TT(K1(!]NOSQ&&FW(YS=4#0[!N*,+<4*&3\"UW!+*IT?+@M;P MH>V4,D,\9-K:*K*PMHX179*F5[$2*0?$!\>WZS^1>`?&*=S+^2HL/<3N MX''GHFEO\%Q3Q4IDJ*BHT4=-2/YS\7R'R!ZGNA4&XM`-Y>7B9PIX=_+OZ=:[Y7C1/^Q?%C M9?3^D_IEY9#NNJ.U^A7-)='L-'U4J4Z?JG4Z+#52-J6%5,PR4[EEW9UT*D?I^V571MMTZ2E' M?1(2:@!`35-144%*5:;]">DR:ZVD(I_LZ$&GK4>WOA#XE]):4RVRU6S-LEGC MCRQ[BC!;>^5K2K7#">W&-,X/[;!R(D<7O`'#V%1>&63$1662`P"8? M8N)Y'\72.5).Y6./]_L\LJLG8FQV[5)4[V:NJ0\['2.\EO6I8UK;`HFFJ@IA M!78Y!A-AV;&[`<)0-::$Y5H:A)-*5I@EO-'QL8TS[+:.3,/O/Q\8;R[0M*<- MXRRI"YNVGQECA6X1U;@&/X!D2E!*RP/;)4YM%Q($92`)`W=-DDCHG,`CUGSQ M`YWW%LB!N6'=-F;VO.S7]P29$55KMDF0EN0^HB0R\M("`ZP$,E315K3K((Q> M;FM;$J0RI$EEM[0D*U+2#0#K0D&A^&.SWQEXMF>%'3G7S'F_/'O'2=)V8R)? MT>-XG!MKR59J]-!*4FJY%2EG$7/6BL0+J-3.S$_P`I-H@*@D*02]%V M/SIO>%Y>7W>]_P!I;R>>?V]^69@-VB4JY-P@X@I?XAO6%CNGZ"2!JJ,< M9=L:.W&XK,AKMAVI7K2$ZL_]B0*_"M?AA^86XO?L6QV'<9Q6OW*!C`V#HZE5 M]EBA3&.;Y*8H9Z$WCT4JV>HS4)07<;*0(QH$%LX0<+)JI]C%.8![]&W?Y%>$ MTK[Z''PXEWN:M:5A*@JH4`<<8]HOZ&4H MBS`J*$@((5D4^E*>E,0%M9P[['L7R?X.L3,X^,7&=XG;]9K:6!_Y*`K\@2!_`P[\V<1. ML'^WL*9*X1>475%GM90ZK4H6`Q!7=F\/N+WDJ_4NN$C)J\T.6IMVFGK6>NK! MHN[G(IPP7CEQ.N83E3.7/'VZ)7&4IY3BI;EMELHCMK= MU-,J7(8;1I0X4A*BL'()`)P?]#AAY+UBFLB4$Y)"TDG*A_Q/M4].GV81\E<7 M>Z&Q6;\:7O[`7(]KQKQCR!=@6ETN_P"P^*82;N\$Q5:N;1%XQAG4S5*+6C2( MD11DY,"NGGB<.Z8B"8@3:_D-QQM+9ESLGAQQ]?;ANR4VL2I2(;\E4=LA6A3A M9;?709T2HA-*_4,\1G;5+,?66X4>JO&R(7&'B&U`G;R2W8S2<`F*K60BRE;D.F50Y_` MINH`\B+Q,XA9V1YFK'$Q?);D(Q3G3FEY6]60R_7+?CRUU+"DGFRFQN4\@ M$@K$W>X\K=:@;Q)4M*K4F3M:(I)MHJ*X1(ON*&-U`NGD5"B\)7#97BW MQYN`;3D,+;G7!$)YYEI90I+KCKK+;B11)2HZW$E-*DT.#1K0V+L'[Q+:,E)! M"2H!1]A0FORR^6+_`'V:]*H_<%CJ(#K;#4+6!U1Y3*!2EVKS;6,-!;&D^E30 M!/&D^8BD`F3^0D(B'D'?IWP6Y3G\=,;IC,;;W!?4RXS57+7# M?EI9<"'A^-V$J+:?JS*J5IT(!(L]R0VI2F@76FU)4*%:@FHSZ5(K]F+&\[^I MT5LSQL8.PW(;+:SZ^M:YDK#TLWROL-E.!QMBR<"OXYM$0$=7[9,.D&4E*3A7 MGRF2"9A.NV2.G%ROC.R,K%B^T))03ENI:ZG:6;E9G*UA0%143=)',02$,(#UGS MEN_Q;YS=>=RRH+L2XR;^^\8LAOM2VBI]2BTIE=%H<2:I4A0U`U!%0<6<)M35 MN2RE04@(IJ&8/7.HQD7U>XF<;472WD_QFTY3>-Z[0VV3S+D^A/J-ZP2^*L@@X8%Q2^7,K)($,8QNP>D.__`")W5=>2MAW> M3L'=<9^UVJY,LLN6U]#LMMZR38RG8[2D@O(:0ZJ0XM%0AIM;BJ)23A4B6R,B 7-*;$ADZG$$J"DT%'$FAH -----END PRIVACY-ENHANCED MESSAGE-----