<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED STATEMENT OF CONDITION AND THE CONSOLIDATED STATEMENT OF EARNINGS
OF ITEM 8, AND TABLES 3, 16, 20 AND 21 OF ITEM 7 OF THE AMSOUTH BANCORPORATION
FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                         648,494
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                15,000
<TRADING-ASSETS>                                 3,879
<INVESTMENTS-HELD-FOR-SALE>                  2,290,478
<INVESTMENTS-CARRYING>                       2,644,706
<INVESTMENTS-MARKET>                         2,649,481
<LOANS>                                     12,168,572
<ALLOWANCE>                                    179,049
<TOTAL-ASSETS>                              18,407,264
<DEPOSITS>                                  12,467,599
<SHORT-TERM>                                 2,897,669
<LIABILITIES-OTHER>                            210,492
<LONG-TERM>                                  1,435,675
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        60,023
<OTHER-SE>                                   1,335,806
<TOTAL-LIABILITIES-AND-EQUITY>              18,407,264
<INTEREST-LOAN>                              1,004,534
<INTEREST-INVEST>                              342,877
<INTEREST-OTHER>                                 6,410
<INTEREST-TOTAL>                             1,353,821
<INTEREST-DEPOSIT>                             511,345
<INTEREST-EXPENSE>                             701,440
<INTEREST-INCOME-NET>                          652,381
<LOAN-LOSSES>                                   65,171
<SECURITIES-GAINS>                               7,837
<EXPENSE-OTHER>                                534,232
<INCOME-PRETAX>                                288,252
<INCOME-PRE-EXTRAORDINARY>                     288,252
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   182,676
<EPS-PRIMARY>                                     3.23
<EPS-DILUTED>                                     3.23
<YIELD-ACTUAL>                                    3.93
<LOANS-NON>                                     78,048
<LOANS-PAST>                                    36,382
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               178,451
<CHARGE-OFFS>                                   83,279
<RECOVERIES>                                    18,706
<ALLOWANCE-CLOSE>                              179,049
<ALLOWANCE-DOMESTIC>                           145,989
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                         33,060
        

</TABLE>