EXHIBIT 11.1

                             SYNOVUS FINANCIAL CORP.


                            COMPUTATION OF NET INCOME
                                PER COMMON SHARE
                                   (UNAUDITED)

                                                                Twelve Months Ended        Three Months Ended     
                                                                    December 31,               December 31,
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                                                               1996            1995        1996           1995
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Primary

Net income                                                 $  139,604         114,583      41,661         33,634
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Weighted average common shares outstanding                    116,133         114,954     116,332        115,823
Average common shares added, assuming
  exercise of dilutive stock options                            1,893           1,164       2,401          1,517
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Weighted average common shares, as adjusted                   118,026         116,118     118,733        117,340
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Primary net income per common share                        $     1.18            0.99        0.35           0.29
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Fully Diluted

Net income                                                 $  139,604         114,583      41,661         33,634
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Weighted average common shares outstanding                    116,133         114,954     116,332        115,823
Average common shares added, assuming
   exercise of dilutive stock options                           2,488           1,583       2,488          1,583
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Weighted average common shares, as adjusted                   118,621         116,537     118,820        117,406
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Fully diluted net income per common share                  $     1.18            0.98        0.35           0.29
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All information presented in Exhibit 11.1 reflects the three-for-two stock split
declared by the Synovus Board of Directors on March 11, 1996, effective April 8,
1996, to shareholders of record on March 21, 1996.