EXHIBIT 11.1
Quaker City Bancorp, Inc.
Computation Of Earnings Per Share
Three Months Nine Months
Ended Ended
March 31, March 31,
2001 2001
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A Average common shares outstanding.............. 4,932,105 4,912,666
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B Net earnings for period........................ $3,969,000 $10,784,000
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Basic earnings per share [ B / A ]............. $ 0.80 $ 2.20
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Common share equivalents :
C Stock options outstanding...................... 700,872 719,191
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D Average option exercise price.................. $ 10.88 $ 10.79
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E Exercise proceeds [ C x D ].................... $7,625,487 $ 7,760,071
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F Tax benefit on non-qualified options........... $1,799,304 $ 1,252,583
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G Total exercise proceeds [ E + F ].............. $9,424,791 $ 9,012,654
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H Average market price in period................. $ 23.70 $ 20.41
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I Shares repurchased at market price [ G / H ]... 397,671 441,580
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J Increase in common shares [ C - I ]............ 303,201 277,611
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K Shares outstanding and equivalents [ A + J ]... 5,235,306 5,190,277
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L Net earnings for period........................ $3,969,000 $10,784,000
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Diluted earnings per share [ L / K ]........... $ 0.76 $ 2.08
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