EXHIBIT 11 SYNOVUS FINANCIAL CORP. COMPUTATION OF NET INCOME PER COMMON SHARE (In thousands, except per share data) (Unaudited) Three Months Ended September 30, 1998 Three Months Ended September 30, 1997 - ---------------------------------------------------------------------------------------------------------------- Net Average Net Income Net Average Net Income Income Shares Per Share Income Shares Per Share - ---------------------------------------------------------------------------------------------------------------- Basic EPS $ 47,438 264,646 $ 0.18 $ 43,101 262,395 $ 0.16 Effect of dilutive options --- 4,216 --- 3,531 - -------------------------------------------------------- --------------------- EPS - assuming dilution $ 47,438 268,862 $ 0.18 $ 43,101 265,926 $ 0.16 ================================================================================================================ Nine Months Ended September 30, 1998 Nine Months Ended September 30, 1997 - ---------------------------------------------------------------------------------------------------------------- Net Average Net Income Net Average Net Income Income Shares Per Share Income Shares Per Share - ---------------------------------------------------------------------------------------------------------------- Basic EPS $ 132,863 263,554 $ 0.50 $ 118,230 262,081 $ 0.45 Effect of dilutive options --- 3,984 --- 3,448 - -------------------------------------------------------- --------------------- EPS - assuming dilution $ 132,863 267,538 $ 0.50 $ 118,230 265,529 $ 0.45 ================================================================================================================ All information presented in Exhibit 11 reflects the three-for-two stock split declared by the Synovus Board of Directors on April 23, 1998, effective May 21, 1998, to shareholders of record on May 7, 1998.