EXHIBIT 11 Imperial Credit Mortgage Holdings, Inc. Statement Regarding Computation of Earnings Per Share For the Period Quarter Ended November 20, - March 31, 1996 December 31, 1995 -------------- ----------------- Primary Earnings Per Share: Net Income 1,693,639 315,443 Avg. Number of Shares Outstanding 4,250,000 4,250,000 Net effect of dilutive stock options- Based on treasury stock method using average market price 57,158 34,010 total average shares 4,307,158 4,284,015 Primary Earnings Per Share (a) 0.39 0.07 (a) Fully diluted earnings per share were not materially different