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 SEPTEMBER 30, 1999 Basic EPS net income ............................ $ 5,720 11,127 $ 0.51 ======== Effect of dilutive securities options ........... -- 188 ------- ------ Diluted EPS ..................................... $ 5,720 11,315 $ 0.51 ======= ====== ======== THREE MONTHS ENDED SEPTEMBER 30, 1998 Basic EPS net income ............................ $ 5,052 10,861 $ 0.47 ======== Effect of dilutive securities options ........... -- 300 ------- ------ Diluted EPS ..................................... $ 5,052 11,161 $ 0.45 ======= ====== ======== NINE MONTHS ENDED SEPTEMBER 30, 1999 Basic EPS net income ............................ $16,119 11,084 $ 1.45 ======== Effect of dilutive securities options ........... -- 189 ------- ------ Diluted EPS ..................................... $16,119 11,273 $ 1.43 ======= ====== ======== NINE MONTHS ENDED SEPTEMBER 30, 1998 Basic EPS net income ............................ $14,351 10,722 $ 1.34 ======== Effect of dilutive securities options ........... -- 356 ------- ------ Diluted EPS ..................................... $14,351 11,078 $ 1.30 ======= ====== ======== 1