EXHIBIT 11. Statement Re: Earnings Per Share *
National Commerce Bancorporation and Subsidiaries
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Year Ended December 31
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1995 1994 1993
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(amounts in thousands, except
per share amounts)
Primary:
Average shares outstanding 24,690 24,476 24,292
Less leveraged ESOP shares (53) (75) -
Net effect of the assumed
exercise of stock options -
based upon the treasury stock
method using average market
price 612 650 712
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Total 25,249 25,051 25,004
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Net income $49,035 $44,342 $39,406
Per share amount $ 1.94 $ 1.77 $ 1.58
Fully diluted:
Average shares outstanding 24,690 24,476 24,292
Less leveraged ESOP shares (53) (75) -
Net effect of the assumed
exercise of stock options -
based on the treasury stock
method using higher of year-end
or average market price 638 664 738
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Total 25,265 25,065 25,030
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Net income $49,035 $44,342 $39,406
Per share amount $ 1.94 $ 1.77 $ 1.58
*Reflects all stock splits and stock dividends declared through December 31,
1995.
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