Metro Bancorp (METR) 10-Q 2008 Q3 Quarterly report

 

Exhibit 11.	Pennsylvania Commerce Bancorp, Inc.
	Computation of Net Income Per Share

For the Quarter Ending September 30, 2008
	Income			Shares		Per Share Amount
Basic Earnings Per Share:
Net income	$	3,433,000
Preferred stock dividends		(20,000	)
Income available to common stockholders		3,413,000			6,358,412	$	0.54
Effect of Dilutive Securities:
Stock options					172,830
Diluted Earnings Per Share:
Income available to common stockholders plus assumed conversions	$	3,413,000			6,531,242	$	0.52
For the Quarter Ending September 30, 2007
	Income			Shares		Per Share Amount
Basic Earnings Per Share:
Net income	$	1,851,000
Preferred stock dividends		(20,000	)
Income available to common stockholders		1,831,000			6,258,593	$	0.29
Effect of Dilutive Securities:
Stock options					210,061
Diluted Earnings Per Share:
Income available to common stockholders plus assumed conversions	$	1,831,000			6,468,654	$	0.28
For the Nine Months Ending September 30, 2008
	Income			Shares		Per Share Amount
Basic Earnings Per Share:
Net income	$	10,145,000
Preferred stock dividends		(60,000	)
Income available to common stockholders		10,085,000			6,342,124	$	1.59
Effect of Dilutive Securities:
Stock options					168,381
Diluted Earnings Per Share:
Income available to common stockholders plus assumed conversions	$	10,085,000			6,510,505	$	1.55
For the Nine Months Ending September 30, 2007
	Income			Shares		Per Share Amount
Basic Earnings Per Share:
Net income	$	4,534,000
Preferred stock dividends		(60,000	)
Income available to common stockholders		4,474,000			6,216,547	$	0.72
Effect of Dilutive Securities:
Stock options					226,199
Diluted Earnings Per Share:
Income available to common stockholders plus assumed conversions	$	4,474,000			6,442,746	$	0.69