EXHIBIT 11.1 Alabama National BanCorporation Computation of Earnings Per Share (In thousands, except per share amounts) Per Share Income Shares Amount -------- -------- ---------- Year ended December 31, 1999 Basic EPS net income.............................................................................. $22,271 11,079 $2.01 ===== Effect of dilutive securities options............................................................. 194 ------- ------ Diluted EPS....................................................................................... $22,271 11,273 $1.98 ======= ====== ===== Year ended December 31, 1998 Basic EPS net income.............................................................................. $17,372 10,804 $1.61 ===== Effect of dilutive securities options............................................................. 369 -------- ------- Diluted EPS....................................................................................... $17,372 11,173 $1.55 ======== ======= ====== Year ended December 31, 1997 Basic EPS net income.............................................................................. $14,116 10,552 $1.34 ===== Effect of dilutive securities options............................................................. 447 ------- ------ Diluted EPS....................................................................................... $14,116 10,999 $1.28 ======= ====== =====