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 |