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AmSOUTH BANCORPORATION AND SUBSIDIARIES v. U.S.

Civ. A. No. CV86-PT-1690-S.

681 F.Supp. 698 (1988)

AmSOUTH BANCORPORATION AND SUBSIDIARIES, Plaintiff, v. UNITED STATES of America, Defendant.

United States District Court, N.D. Alabama, S.D.

February 25, 1988.

Attorney(s) appearing for the Case

Alfred F. Smith, Jr., N. Lee Cooper, Maynard Cooper Frierson & Gale, Birmingham, Ala., for plaintiff.

John J. Gill, III, Henry C. Ruempler and Joanne Ames, Washington, D.C., for American Bankers Ass'n., amicus curiae.

Frank W. Donaldson, U.S. Atty., Richard E. O'Neal, Asst. U.S. Atty., Birmingham, Ala., Curtis Bowman, Richard F. Mitchell, William A. Roberts, Trial Attys., Tax Div., Dept. of Justice, Washington, D.C., for defendant.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

PROPST, District Judge.

This cause came on to be heard at a bench trial which concluded on October 22, 1987.

THE ISSUE

Can a bank which acquires the assets and assumes the liabilities of another going concern bank assign some or all of the price paid in excess of tangible values purchased, to an intangible asset known as "customer deposit base" and capitalize, amortize and deduct the same pursuant...

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