TN - A Glitch or Two, But AmSouth Declares Smooth Transitiongreenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread
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Title: AmSouth declares Local Name Change Largely Glitch-Free
By Getahn Ward / Staff Writer
Except for a glitch or two reported by a few customers, AmSouth Bancorp yesterday said it successfully completed last weekend's conversion of branches and systems of First American Bank.
About 114 First American branches in Middle and West Tennessee and Kentucky were the last group to roll over to AmSouth effective yesterday, marking the demise of the First American Bank name.
Birmingham, Ala.-based AmSouth acquired Nashville's last remaining locally based large bank in October after First American had faced problems absorbing a major acquisition of its own. First American branches in several states had changed to AmSouth before last weekend.
"The folks at AmSouth understood how critical it was to have this last leg go as smoothly as possible," said Chris Kelley, an analyst with Morgan Keegan & Co. in Memphis. "I've not heard anything to the contrary yet. You've got to give them credit -- so far, so good."
AmSouth Nashville President DeVan Ard Jr. also had a good report yesterday: "We haven't heard of any systemic problem out there. Everything seems to be working as we would want it."
Lines were long early yesterday afternoon at several area AmSouth branches, a development officials attributed to the day being a payday and customers inquiring about the changeover.
Former First American customers Simon Collier, chairman of Vanderbilt University's history department, and Lipscomb University student Andy Faught yesterday said all was well.
Others cited a few glitches, though it was uncertain whether they were conversion-related.
There were scattered reports yesterday of some automated teller machines being down for a few hours and connection problems with a First American processing facility in Boulder, Colo.
"That happens all the time," said AmSouth spokesman Jim Underwood, adding that periodic problems with some ATMs aren't unusual.
Greg Miles, an AmSouth senior vice president, said the ATM conversion was completed Wednesday, so any problem with certain machines later in the week probably were not related to the weekend conversion.
Franklin resident Steven Bell, another former First American customer, meanwhile, reported problems accessing his personal line of credit over the weekend.
AmSouth yesterday afternoon took the required measure to correct that problem, officials said.
Getahn Ward covers insurance, banking and finance for The Tennessean. He can be reached at (615) 726-5968 or firstname.lastname@example.org .
-- (Dee360Degree@aol.com), May 16, 2000