EXHIBIT 11 SYNOVUS FINANCIAL CORP. COMPUTATION OF NET INCOME PER COMMON SHARE (In thousands, except per share data) (Unaudited) Three Months Ended June 30, 2003 Three Months Ended June 30, 2002 ---------------------------------------------- ---------------------------------------------- Net Average Net Income Net Average Net Income Income Shares per Share Income Shares Per Share -------------- -------------- -------------- ----------- ------------ --------------- EPS - Basic $ 96,367 302,776 $ 0.32 $ 85,895 295,629 $ 0.29 Effect of dilutive options 2,239 4,653 -------------- ------------ EPS - Diluted $ 96,367 305,015 $ 0.32 $ 85,895 300,282 $ 0.29 ============= ============== ============== =========== ============ =============== Six Months Ended June 30, 2003 Six Months Ended June 30, 2003 ---------------------------------------------- ---------------------------------------------- Net Average Net Income Net Average Net Income Income Shares Per Share Income Shares Per Share ------------- -------------- -------------- ----------- ------------ --------------- EPS - Basic $ 186,286 302,423 $ 0.62 $ 168,647 295,280 $ 0.57 Effect of dilutive options 4,106 4,753 ------------- -------------- ----------- ------------ EPS - Diluted $ 186,286 306,529 $ 0.61 $ 168,647 300,033 $ 0.56 ============= ============== ============== =========== ============ ===============