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, 1998 Basic EPS net income .............................. $ 17,372 10,804 $ 1.61 ========== Effect of dilutuve 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 dilutuve securities options ............. 447 ---------- ---------- Diluted EPS ....................................... $ 14,116 10,999 $ 1.28 ========== ========== ========== Year ended December 31, 1996 Basic EPS net income .............................. $ 13,627 9,960 $ 1.37 ========== Effect of dilutuve securities options ............. 505 Convertible debentures, net of taxes .............. 5 25 ---------- ---------- Diluted EPS ....................................... $ 13,632 10,490 $ 1.30 ========== ========== ==========