<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 AND FOR THE YEAR ENDED DECEMBER 31, 1995 AND IS QUALIFIED IN ITS 
ENTIRETY BY REFERENCE TO SUCH STATEMENTS.
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               DEC-31-1995
<CASH>                                         651,641
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                 1,775
<TRADING-ASSETS>                                 2,978
<INVESTMENTS-HELD-FOR-SALE>                  2,479,813
<INVESTMENTS-CARRYING>                       2,167,009
<INVESTMENTS-MARKET>                         2,193,421
<LOANS>                                     11,743,273
<ALLOWANCE>                                    178,451
<TOTAL-ASSETS>                              17,738,795
<DEPOSITS>                                  13,420,287
<SHORT-TERM>                                 2,339,826
<LIABILITIES-OTHER>                            154,308
<LONG-TERM>                                    440,899
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        90,045<F1>
<OTHER-SE>                                   1,293,430<F1>
<TOTAL-LIABILITIES-AND-EQUITY>              17,738,795
<INTEREST-LOAN>                              1,011,320
<INTEREST-INVEST>                              254,737
<INTEREST-OTHER>                                 6,882
<INTEREST-TOTAL>                             1,272,939
<INTEREST-DEPOSIT>                             551,611
<INTEREST-EXPENSE>                             679,396
<INTEREST-INCOME-NET>                          593,543
<LOAN-LOSSES>                                   40,139
<SECURITIES-GAINS>                               3,717
<EXPENSE-OTHER>                                509,898
<INCOME-PRETAX>                                275,177
<INCOME-PRE-EXTRAORDINARY>                     275,177
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   174,955
<EPS-PRIMARY>                                     2.00<F1>
<EPS-DILUTED>                                     1.98<F2>
<YIELD-ACTUAL>                                    3.87
<LOANS-NON>                                     96,246
<LOANS-PAST>                                    39,618
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               171,167
<CHARGE-OFFS>                                   47,282
<RECOVERIES>                                    12,674
<ALLOWANCE-CLOSE>                              178,451
<ALLOWANCE-DOMESTIC>                           152,547
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                         25,904
<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.
</FN>
        

</TABLE>