C. Dowd Ritter Chairman and Chief Executive Officer Exhibit 99.1 |
2005 Performance Highlights • Net income (in millions) $725.7 • Diluted earnings per share $2.04 • Return on equity 20.4% • Net Interest Margin 3.38% • Efficiency ratio 52.0% • Net charge-off ratio 0.27% • Nonperforming asset ratio 0.34% 2005 |
2005 Noteworthy Events • Hurricanes Katrina, Rita and Wilma • Sale of mutual fund management business • Regulatory compliance • Approvals for branch expansion |
AmSouth Maintains a Leadership Position in Attractive Markets (1Q ’06) • $10 billion Market Cap • $53 billion in Assets • 700 Branches • 1,200+ ATM’s • 1.9 million Households • 12,400 Employees |
AmSouth in the Marketplace |
Community Giving • $7.9 million in contributions in 2005 |
First Quarter 2006 Performance Highlights • Net income (in millions) $181.0 • Diluted earnings per share $0.52 • Return on equity 20.5% • Net Interest Margin 3.42% • Efficiency ratio 52.53 • Net charge-off ratio 0.47% • Nonperforming asset ratio 0.27% |
Strategic Initiatives • Sustain growth in Consumer Banking • Continue aggressive growth in Business Banking • Grow Commercial Banking business with improved credit quality • Double contribution from Wealth Management • Double Florida’s contribution • Emphasize sales productivity, service quality and customer retention • Leverage technology across all lines of business with increasing emphasis on Internet services |
Florida – Current Operations • Loans: $9.9 billion, 27% of total company • Deposits: $9.5 billion, 26% of total company • Branches: 232, 34% of entire network • Households – Consumer Banking: 29% of total company – Business Banking: 35% of total company |
Why expand further in Florida? • Highest growth rate among top 10 most populous states • Florida’s population grows by 1,000 people each day • Over 250,000 new jobs created last year • Evolving economic diversification • AmSouth average Florida growth – 4Q04 to 4Q05 – Loans: Up 20% ($1.6 billion) – Deposits: Up 21% ($1.6 billion) |
Florida results from branches opened in the last four years $136 $535 $943 $285 $894 $1,589 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 2003 2004 2005 Loans Deposits |
2006 Branch Expansion Plan • 64 Branches – Full year 2006 – First Quarter 12 – Florida 3 – Other high growth markets – Remaining quarters 42 – Florida 7 – Other high growth markets |
$21,189 $10,275 $0 $5,000 $10,000 $15,000 $20,000 $25,000 5 Year AmSouth S&P 500 Index 16.2% 0.5% AmSouth Outperforms Broader Market |
$32,126 $23,830 $0 $10,000 $20,000 $30,000 $40,000 10 Year AmSouth S&P 500 Index 12.4% 9.1% AmSouth Outperforms Broader Market |
AmSouth Outperforms Broader Market $772,800 $373,077 $0 $150,000 $300,000 $450,000 $600,000 $750,000 $900,000 Since 1971 AmSouth S&P 500 Index 13.6% 11.2% |
71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 Outstanding Record of Dividend Growth 35 Years of Higher Dividends Current Yield = 3.8% Mergent’s “Dividend Achiever” 03 04 05 06 |
ANNUAL MEETING OF SHAREHOLDERS April 20, 2006 |