AMSOUTH BANCORPORATION
SC 13G, 1999-02-16
STATE COMMERCIAL BANKS
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<PAGE>
 
CUSIP No. 010317-10-5               13G                    Page 1 of 10 pages


                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934

                       (Amendment No. ________________)*


                        ALABAMA NATIONAL BANCORPORATION
                        -------------------------------
                                (Name of Issuer)

                                  Common Stock
                                  ------------
                         (Title of Class of Securities)


                                  010317-10-5
                                  -----------
                                 (CUSIP Number)

                                Not Applicable
                 ----------------------------------------------
            (Date of Event Which Requires Filing of this Statement)

   Check the appropriate box to designate the rule pursuant to which this
   Schedule is filed:

         [X]   Rule 13d-1(b)
         [ ]   Rule 13d-1(c)
         [ ]   Rule 13d-1(d)

   *The remainder of this cover page shall be filled out for a reporting
   person's initial filing on this form with respect to the subject class of
   securities, and for any subsequent amendment containing information which
   would alter the disclosures provided in a prior cover page.

   The information required in the remainder of this cover page shall not be
   deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
   Act of 1934 ("Act") or otherwise subject to the liabilities of that section
   of the Act but shall be subject to all other provisions of the Act (however,
   see the Notes).
<PAGE>
 
CUSIP No. 010317-10-5               13G                    Page 2 of 10 pages
 
- ------------------------------------------------------------------------------
      NAMES OF REPORTING PERSONS.
 1    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
                                                                                
          AmSouth Bancorporation
          No. 63-0591257
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
          Delaware

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF                 -0-
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                               860,051
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING                  -0-
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                               860,051
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
                               860,051

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
10    (SEE INSTRUCTIONS)
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11           
                                8.2%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12           
      HC

- ------------------------------------------------------------------------------
<PAGE>
 
CUSIP No. 010317-10-5               13G                    Page 3 of 10 pages
 
- ------------------------------------------------------------------------------
      NAMES OF REPORTING PERSONS.
 1    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
                                                                                
          AmSouth Bank
          No. 63-0935103
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
          Alabama

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF                 -0-
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                               860,051
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING                  -0-
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                               860,051
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
                               860,051

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
10    (SEE INSTRUCTIONS)
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11           
                                8.2%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12           
      BK

- ------------------------------------------------------------------------------
<PAGE>
 
CUSIP No.  010317-10-5                13G                   Page 4 of 10 pages

                                  STATEMENT ON
                                  SCHEDULE 13G
                                 FILED WITH THE
                       SECURITIES AND EXCHANGE COMMISSION
                                  ON BEHALF OF
                             AMSOUTH BANCORPORATION
                                      AND
                                  AMSOUTH BANK

              Report for the Calendar Year Ended December 31, 1998

   Item 1(a)   Name of Issuer:
   ---------                  

               Alabama National Bancorporation

   Item 1(b)   Address of Issuer's Principal Executive Offices:
   ---------                                                   

               1927 First Avenue North
               Birmingham, Alabama  35209

   Item 2(a)   Name of Persons Filing:
   ---------                          

               AmSouth Bancorporation
               AmSouth Bank
 
   Item 2(b)   Address of Principal Business Office or, if none, Residence:
   ---------                                                               

               AmSouth Bancorporation
                  AmSouth/Sonat Tower
                  1900 Fifth Avenue North
                  Birmingham, Alabama  35203

               AmSouth Bank
                  AmSouth/Sonat Tower
                  Birmingham, Alabama  35203

 
   Item 2(c)   Citizenship:
   ---------               

               AmSouth Bancorporation is a Delaware corporation.  AmSouth Bank
               is a bank organized under the laws of the State of Alabama.

   Item 2(d)   Title of Class of Securities:
   ---------                                
 
               Common stock
 
   Item 2(e)   CUSIP Number:  010317-10-5
   ---------
 
   Item 3      If this Statement is filed pursuant to Section 13d-1(b), or 
   ------      13d-2(b) or (c), check whether the person filing is a:
 
               (a)   [ ]  Broker or Dealer registered under Section 15 of the 
                          Act (15 U.S.C. 78o)
 
<PAGE>
 
CUSIP No.  010317-10-5                13G                   Page 5 of 10 pages

               (b)   [X]  Bank as defined in Section 3(a)(6) of the Act 
                          (15 U.S.C. 78c)
 
               (c)   [ ]  Insurance Company as defined in Section 3(a)(19) of 
                          the Act (15 U.S.C. 78c)
 
               (d)   [ ]  Investment Company registered under Section 8 of 
                          the Investment Company Act of 1940 (15 U.S.C.
                          80a-8)
 
               (e)   [ ]  An investment adviser in accordance with 
                          (S)240.13d-1(b)(1)(ii)(E)
 
               (f)   [ ]  An employee benefit plan or endowment fund in 
                          accordance with (S)240.13d-1(b)(1)(ii)(F)
 
               (g)   [X]  A parent holding company or control person in 
                          accordance with (S)240.13d-1(b)(1)(ii)(G)
 
               (h)   [ ]  A savings associations as defined in Section 3(b) of 
                          the Federal Deposit Insurance Act (12 U.S.C. 1813)
 
               (i)   [ ]  A church plan that is excluded from the definition of
                          an investment company under section 3(c)(14) of the
                          Investment Company Act of 1940 (15 U.S.C. 80a-3)
                          
               (j)   [ ]  Group, in accordance with (S)240.13d-1(b)(1)(ii)(J)

 
   Item 4      Ownership
   ------               

               (a) Amount Beneficially Owned:

                           AmSouth Bancorporation:      860,051
                           AmSouth Bank:                860,051

               (b) Percent of Class:

                           AmSouth Bancorporation:        8.2%
                           AmSouth Bank:                  8.2%

               (c) Number of shares as to which the person has:

                   (i)  sole power to vote or to direct the vote:

                                        -0-

                   (ii) shared power to vote or direct the vote:

                            AmSouth Bancorporation:     860,051
                            AmSouth Bank:               860,051
<PAGE>
 
CUSIP No.  010317-10-5                13G                   Page 6 of 10 pages

                   (iii) sole power to dispose or  to direct the disposition of:

                                      -0-

                   (iv)  shared power to dispose or to direct the disposition 
                         of:

                            AmSouth Bancorporation:      860,051
                            AmSouth Bank:                860,051

            Pursuant to Rule 13d-4, it is hereby declared that the filing of
            this Statement shall not be construed as an admission that AmSouth
            Bancorporation  or AmSouth Bank is, for the purpose of Sections
            13(d) or 13(g) of the Securities Exchange Act of 1934, the
            beneficial owner of any securities covered by this Statement.


   Item 5   Ownership of Five Percent or Less of a Class
   ------                                               

            Not applicable


   Item 6   Ownership of More than Five Percent on Behalf of Another Person
   ------   
            All of the shares covered by this Statement are held by trusts and  
            fiduciary accounts of which AmSouth Bancorporation's subsidiary,    
            AmSouth Bank, is a fiduciary. Generally, under the terms of the     
            instrument establishing each such trust or account, dividends on and
            proceeds from the sale of securities held by the trust or account   
            are paid to it, with distribution of any such amounts to            
            beneficiaries thereof being made from the trust or account pursuant 
            to the terms of the governing instrument. No single one of such     
            beneficiaries is entitled to receive dividends on, or proceeds from 
            the sale of, as much as five percent of the class.  
            

   Item 7   Identification and Classification of the Subsidiary Which Acquired 
   ------   the Security Being Reported on by the Parent Holding Company

            See Exhibit 1.


   Item 8   Identification and Classification of Members of the Group
   ------                                                            

            Not applicable.


   Item 9   Notice of Dissolution of Group
   ------                                 

            Not applicable.
<PAGE>
 
CUSIP No.  010317-10-5                13G                   Page 7 of 10 pages

   Item 10  Certification
   -------               

            By signing below I certify that, to the best of my knowledge and
            belief, the securities referred to above were acquired and are held
            in the ordinary course of business, and were not acquired and are
            not held for the purpose of or with the effect of changing or
            influencing the control of the issuer of the securities, and were
            not acquired and are not held in connection with or as a participant
            in any transaction having that purpose or effect.


     Signatures:
     -----------

             After reasonable  inquiry and to the best of my knowledge and
     belief, I certify that the information set forth in this Statement is true,
     complete and correct.


     February  16, 1999
     ------------------
     Date


     AMSOUTH BANCORPORATION


     By:  /s/ Carl L. Gorday
          ---------------------
          Signature

     Carl L. Gorday, Assistant Secretary
     -----------------------------------
     Name/Title
<PAGE>
 
CUSIP No.  010317-10-5                13G                   Page 8 of 10 pages

               After reasonable inquiry and to the best of my knowledge and
     belief, I certify that the information set forth in this Statement is true,
     complete and correct.



     February 16, 1999
     -----------------
     Date



     AMSOUTH BANK



     By: /s/ Carl L. Gorday
         ----------------------
         Signature


     Carl L. Gorday, Assistant Secretary
     -----------------------------------
     Name/Title
<PAGE>
 
CUSIP No.  010317-10-5                13G                   Page 9 of 10 pages

                                   EXHIBIT 1
                                       TO
                                  STATEMENT ON
                                  SCHEDULE 13G
                                 FILED WITH THE
                       SECURITIES AND EXCHANGE COMMISSION
                                  ON BEHALF OF
                             AMSOUTH BANCORPORATION
                                      AND
                                  AMSOUTH BANK

               Report for the Calendar Year Ended December 31, 1998


               The securities covered by this Statement are held in a fiduciary
     capacity by the following subsidiary of AmSouth Bancorporation, which is a
     bank as defined in Section 3(a)(6) of the Securities Exchange Act of 1934,
     and classified in Item 3(b) of Schedule 13G:


                              AmSouth Bank
<PAGE>
 
CUSIP No.  010317-10-5                13G                   Page 10 of 10 pages

                                   EXHIBIT 2
                                       TO
                                  STATEMENT ON
                                  SCHEDULE 13G
                                 FILED WITH THE
                       SECURITIES AND EXCHANGE COMMISSION
                                  ON BEHALF OF
                             AMSOUTH BANCORPORATION
                                      AND
                                  AMSOUTH BANK

                                        
               Report for the Calendar Year Ended December 31, 1998

 
               The undersigned, AmSouth Bancorporation and AmSouth Bank, hereby
     agree that the foregoing Statement on Schedule 13G is filed on behalf of
     each of them.


                                   AMSOUTH BANCORPORATION                    
                                                                             
                                                                             
                                                                             
                                   By:   /s/ Carl L. Gorday                  
                                         -----------------------------------  
                                         Carl L. Gorday, Assistant Secretary  
                                                                             
                                                                             
                                                                             
                                   AMSOUTH BANK                               



                                   By:   /s/ Carl L. Gorday                  
                                         -----------------------------------  
                                         Carl L. Gorday, Assistant Secretary  


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