Quaker City Bancorp, Inc.
Computation of Earnings Per Share
Three Months Ended Nine Months Ended
March 31, March 31,
2000 2000
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A Average common shares outstanding 4,966,877 5,067,899
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B Net earnings for period $2,840,000 $8,311,000
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Basic earnings per share [ B / A ] $ 0.57 $ 1.64
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Common share equivalents :
C Stock options outstanding 360,942 534,028
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D Option exercise price $ 4.80 $ 8.44
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E Exercise proceeds [ C x D ] $1,732,522 $4,507,196
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F Average market price in period $ 15.36 $ 16.40
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G Shares repurchased at market price [ E / F ] 112,794 274,829
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H Increase in common shares [ C - G ] 248,148 259,199
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I Shares outstanding and equivalents [ A + H ] 5,215,025 5,327,098
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J Net earnings for period $2,840,000 $8,311,000
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Diluted earnings per share [ J / I ] $ 0.54 $ 1.56
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Three Months Ended Nine Months Ended
March 31, March 31,
1999 1999
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A Average common shares outstanding 5,365,159 5,443,145
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B Net earnings for period $2,498,000 $7,037,000
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Basic earnings per share [ B / A ] $ 0.47 $ 1.29
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Common share equivalents :
C Stock options outstanding 569,696 573,140
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D Option exercise price $ 8.49 $ 8.48
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E Exercise proceeds [ C x D ] $4,836,719 $4,860,227
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F Average market price in period $ 15.01 $ 16.08
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G Shares repurchased at market price [ E / F ] 322,233 302,253
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H Increase in common shares [ C - G ] 247,463 270,887
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I Shares outstanding and equivalents [ A + H ] 5,612,622 5,714,032
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J Net earnings for period $2,498,000 $7,037,000
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Diluted earnings per share [ J / I ] $ 0.45 $ 1.23
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Exhibit 11.1