EXHIBIT 11
FIRST COMMERCIAL CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(Dollars in thousands, except per share data)
For the Years Ended December 31,
----------------------------------
1997 1996 1995
---------- ---------- ----------
Net income before extraordinary items $ 84,634 $ 78,554 $ 65,234
Extraordinary item, net of income taxes
of $9,659 15,425 - -
---------- ---------- ----------
Net income $ 100,059 $ 78,554 $ 65,234
Less: Preferred stock dividend - - -
---------- ---------- ----------
Income applicable to common shares $ 100,059 $ 78,554 $ 65,234
========== ========== ==========
Weighted average number of common shares
outstanding during the period - Basic 37,486,476 35,648,472 34,221,166
Dilutive potential common shares 435,476 384,813 317,939
---------- ---------- ----------
Weighted average number of common shares 37,921,952 36,033,285 34,539,105
assuming dilution ========== ========== ==========
Basic earnings per common share:
Net income before extraordinary items $2.26 $2.20 $1.91
Extraordinary item 0.41 - -
----- ----- -----
Net income per sommon share $2.67 $2.20 $1.91
===== ===== =====
Diluted earnings per common share:
Net income before extraordinary items $2.23 $2.18 $1.89
Extraordinary item 0.41 - -
----- ----- -----
Net income per common share $2.64 $2.18 $1.89
===== ===== =====