EXHIBIT 11.1
Quaker City Bancorp, Inc.
Computation of Earnings Per Share
Three Months Six Months
Ended Ended
December 31, December 31,
2000 2000
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A Average common shares outstanding................ 4,901,436 4,902,947
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B Net earnings for period.......................... $3,539,000 $6,815,000
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Basic earnings per share [ B / A ]............... $ 0.72 $ 1.39
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Common share equivalents :
C Stock options outstanding........................ 726,709 728,350
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D Option exercise price............................ $ 10.77 $ 10.75
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E Exercise proceeds [ C x D ]...................... $7,826,656 $7,829,763
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F Tax benefit on non-qualified options............. $1,327,966 $ 971,819
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G Total exercise proceeds [ E + F ]................ $9,154,622 $8,801,582
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H Average market price in period................... $ 20.55 $ 18.77
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I Shares repurchased at market price [ G / H ]..... 445,480 468,918
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J Increase in common shares [ C - I ].............. 281,229 259,432
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K Shares outstanding and equivalents [ A + J ]..... 5,182,665 5,162,379
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L Net earnings for period.......................... $3,539,000 $6,815,000
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Diluted earnings per share [ L / K ]............. $ 0.68 $ 1.32
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Exhibit 11.1