Exhibit 11 SOUTHERN NATIONAL CORPORATION AND SUBSIDIARIES Computation of Earnings Per Share For the Periods as Indicated (Dollars in thousands, except per share data) For the Three Months Ended March 31, 1994 1993 Primary Earnings Per Share: Weighted average number of common shares outstanding during the period 43,164,558 40,884,600 Add- Dilutive effect of outstanding options (as determined by application of treasury stock method) 435,103 951,725 Weighted average number of common shares, as adjusted 43,599,661 41,836,325 Net income $ 26,047 $ (1,977) Less- Preferred dividend requirements 1,299 1,299 Net income available for common shares $ 24,748 $ (3,276) Primary earnings per share $ 0.57 $ (0.08) Fully Diluted Earnings Per Share: Weighted average number of common shares outstanding during the period 43,164,558 40,884,600 Add Shares issuable assuming conversion of convertible preferred stock 4,548,236 4,548,236 Dilutive effect of outstanding options (as determined by application of treasury stock method) 435,103 978,471 Weighted average number of common shares, as adjusted 48,147,897 46,411,307 Net income $ 26,047 $ (1,977) Fully diluted earnings per share $ 0.54 $ (0.08)