EXHIBIT 11
FIRST COMMERCE CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
Three Months Ended
March 31
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1998 1997
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Basic earnings per share
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Income applicable to common shareholders $30,760,000 $29,020,000
Weighted average number of common shares
outstanding(a) 39,312,775 38,781,538
Basic earnings per share $.78 $.75
Diluted earnings per share
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Income applicable to common shareholders $30,760,000 $29,020,000
Interest expense on convertible
debentures, net of tax 1,640,000 1,667,000
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Diluted income $32,400,000 $30,687,000
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Weighted average number of shares
outstanding(a) 39,312,775 38,781,538
Restricted shares expected to be earned 188,082 151,198
Options assumed to be exercised 903,708 331,357
Convertible debentures assumed to be converted 2,976,958 3,017,276
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Average shares for diluted computation 43,381,523 42,281,369
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Diluted earnings per share $.75 $.73
(a) Excludes restricted shares which are issued subject to risk of forfeiture
during a vesting period.