Exhibit 99.1

News Release                     AmSouth Bancorporation Post Office Box 11007 Birmingham, Alabama 35288

FOR IMMEDIATE RELEASE

Contact:	(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.

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

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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.

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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

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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	%

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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

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