EXHIBIT 11
FIRST COMMERCE CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
Years Ended December 31
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1996 1995 1994
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Primary earnings per share
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Net income $118,438,000 $75,951,000 $80,227,000
Preferred dividend requirements (2,116,000) (4,325,000) (4,347,000)
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Income applicable to common shares $116,322,000 $71,626,000 $75,880,000
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Weighted average number of common shares
outstanding, net of shares held in treasury 38,224,272 37,732,633 37,596,872
Shares from assumed exercise of options,
net of treasury stock method 237,308 165,634 157,051
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38,461,580 37,898,267 37,753,923
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Earnings per common share $3.02 $1.89 $2.01
Fully diluted earnings per share
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Income applicable to common shares $116,322,000 $71,626,000 $75,880,000
Expenses that would not have been incurred
if assumed conversions had occurred:
Preferred dividend requirements 2,116,000 4,325,000 4,347,000
Interest expense on convertible debentures, net of tax 6,635,000 - -
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Income applicable to common shares, plus
expenses that would not have been incurred
if assumed conversions had occurred $125,073,000 $75,951,000 $80,227,000
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Weighted average number of shares
outstanding, net of shares held in treasury 38,224,272 37,732,633 37,596,872
Shares from assumed exercise of options,
net of treasury stock method 302,464 210,153 158,147
Shares from assumed conversion of dilutive
convertible stock and debentures:
Preferred stock 1,782,354 2,772,251 2,793,283
Convertible debentures 3,028,094 - -
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43,337,184 40,715,037 40,548,302
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Earnings per common share $2.89 $1.87 $1.98