EXHIBIT 11
FIFTH THIRD BANCORP
COMPUTATION OF CONSOLIDATED NET INCOME PER SHARE
($000's except per share data)
1994 1993 1992 1991 1990
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Net Income $ 244,459 206,235 172,021 142,954 121,026
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Net income per common share - assuming no dilution:
Weighted average number of shares outstanding (a) 64,387 62,649 62,329 61,897 61,544
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Per share (net income divided by the weighted average
number of shares outstanding) $ 3.80 3.29 2.76 2.31 1.97
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Net income per common and common equivalent share:
Net income $ 244,459 206,235 172,021 142,954 121,026
Add - Interest on 4 1/4% convertible subordinated notes
due 1998, net of applicable income taxes 4,332 4,393 546 -- --
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Adjusted net income $ 248,791 210,628 172,567 142,954 121,026
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Adjusted weighted average number of shares outstanding -
after giving effect to the conversion of stock options
and convertible subordinated notes (a) 66,925 65,338 63,082 62,303 61,698
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Per share (adjusted net income divided by the adjusted
weighted average number of shares outstanding) $ 3.72 3.22 2.74 2.30 1.96
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Net income per common share - assuming full dilution:
Adjusted net income $ 248,791 210,628 172,567 142,954 121,026
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Adjusted weighted average number of shares outstanding -
after giving effect to the conversion of stock options
and convertible subordinated notes (a) 66,924 65,338 63,188 62,527 61,749
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Per share (adjusted net income divided by the adjusted
weighted average number of shares outstanding) $ 3.72 3.22 2.73 2.29 1.96
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<FN>
(a) Per share amounts and average shares outstanding reflect the three-for-two stock splits effected
in the form of stock dividends paid April 15, 1992 and January 13, 1990.