Quaker City Bancorp (QCBC) 10-Q 2003 Q3 Quarterly report

EXHIBIT 11.1

Quaker City Bancorp, Inc.

Computation of Earnings Per Share

		Three Months Ended March 31, 2003		Nine Months Ended March 31, 2003
A	Average common shares outstanding		6,284,135		6,340,838
B	Net earnings for period	$	5,823,000	$	17,062,000
	Basic earnings per share [ B / A ]	$	0.93	$	2.69
	Common share equivalents:
C	Average stock options outstanding		667,207		764,004
D	Average option exercise price	$	16.33	$	15.14
E	Exercise proceeds [ C x D ]	$	10,895,490	$	11,567,021
F	Tax benefit on non-qualified options	$	4,375,615	$	4,896,842
G	Total exercise proceeds [ E + F ]	$	15,271,105	$	16,463,863
H	Average market price in period	$	33.87	$	34.09
I	Shares repurchased at market price [ G / H ]		450,874		482,953
J	Increase in common shares [ C—I ]		216,333		281,051
K	Shares outstanding and equivalents [ A + J ]		6,500,468		6,621,889
L	Net earnings for period	$	5,823,000	$	17,062,000
	Diluted earnings per share [ L / K ]	$	0.90	$	2.58