EXHIBIT 11 Alabama National BanCorporation Computation of Earnings Per Share (Unaudited) (In thousands, except per share amounts) Per Share Income Shares Amount --------- ------ --------- THREE MONTHS ENDED JUNE 30, 1999 Basic EPS net income.................................... $ 5,380 11,100 $0.49 Effect of dilutive securities options................... - 167 ===== ------- ------ Diluted EPS............................................. $ 5,380 11,267 $0.48 ======= ====== ===== THREE MONTHS ENDED JUNE 30, 1998 Basic EPS net income.................................... $ 4,749 10,694 $0.44 Effect of dilutive securities options................... - 443 ===== ------- ------ Diluted EPS............................................. $ 4,749 11,137 $0.43 ======= ====== ===== SIX MONTHS ENDED JUNE 30, 1999 Basic EPS net income.................................... $10,399 11,061 $0.94 Effect of dilutive securities options................... - 175 ===== ------- ------ Diluted EPS............................................. $10,399 11,236 $0.93 ======= ====== ===== SIX MONTHS ENDED JUNE 30, 1998 Basic EPS net income.................................... $ 9,299 10,653 $0.87 Effect of dilutive securities options................... - 456 ===== ------- ------ Diluted EPS............................................. $ 9,299 11,109 $0.84 ======= ====== ===== 34