<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED STATEMENT OF CONDITION, THE CONSOLIDATED STATEMENT OF EARNINGS AND
TABLES 2, 6 AND 7 OF ITEM 2 OF THE AMSOUTH BANCORPORATION FORM 10-Q FOR THE
QUARTERLY PERIOD ENDED MARCH 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH STATEMENTS.
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                         587,278
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                 1,600
<TRADING-ASSETS>                                 3,510
<INVESTMENTS-HELD-FOR-SALE>                  2,534,791
<INVESTMENTS-CARRYING>                       2,574,911
<INVESTMENTS-MARKET>                         2,565,870
<LOANS>                                     11,476,197
<ALLOWANCE>                                    177,930
<TOTAL-ASSETS>                              17,914,386
<DEPOSITS>                                  13,295,064
<SHORT-TERM>                                 2,381,415
<LIABILITIES-OTHER>                            207,857
<LONG-TERM>                                    660,496
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        90,045<F1>
<OTHER-SE>                                   1,279,509<F1>
<TOTAL-LIABILITIES-AND-EQUITY>              17,914,386
<INTEREST-LOAN>                                250,828
<INTEREST-INVEST>                               78,693
<INTEREST-OTHER>                                 1,843
<INTEREST-TOTAL>                               331,364
<INTEREST-DEPOSIT>                             133,758
<INTEREST-EXPENSE>                             173,659
<INTEREST-INCOME-NET>                          157,705
<LOAN-LOSSES>                                   15,120
<SECURITIES-GAINS>                               1,457
<EXPENSE-OTHER>                                122,771
<INCOME-PRETAX>                                 74,832
<INCOME-PRE-EXTRAORDINARY>                      74,832
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    47,163
<EPS-PRIMARY>                                      .55<F1>
<EPS-DILUTED>                                      .54<F2>
<YIELD-ACTUAL>                                    3.91
<LOANS-NON>                                     90,919
<LOANS-PAST>                                    40,110
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               178,451
<CHARGE-OFFS>                                   20,626
<RECOVERIES>                                     4,985
<ALLOWANCE-CLOSE>                              177,930
<ALLOWANCE-DOMESTIC>                                 0<F3>
<ALLOWANCE-FOREIGN>                                  0<F3>
<ALLOWANCE-UNALLOCATED>                              0<F3>
<FN>
<F1>Adjusted to reflect a three-for-two stock split in April 1997.
<F2>Restated for Statement of Financial Accounting Standards No. 128, Earnings 
Per Share and adjusted to reflect a three-for-two stock split in April 1997.
<F3>Available at year end only.
</FN>
        


</TABLE>