QUAKER CITY BANCORP, INC.
COMPUTATION OF EARNINGS PER SHARE
THREE MONTHS ENDED NINE MONTHS ENDED
MARCH 31, MARCH 31,
1997 1997
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A Average Common Shares Outstanding 3,522,702 3,517,119
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Common Share Equivalents:
B Average Stock Options Outstanding 307,183 327,050
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C Average Option Exercise Price $ 7.50 $ 7.50
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D Exercise Proceeds [ B x C ] $2,303,873 $2,452,875
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E Average Market Price in Period $ 18.76 $ 16.52
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F Shares Repurchased At Market Price [ D / E ] 122,808 148,479
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G Increase in Common Shares [ B - F ] 184,375 178,571
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H Shares Outstanding and Equivalents [ A + G ] 3,707,077 3,695,690
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I Net earnings for Period $1,339,000 $1,331,000
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Earnings Per Share [ I /H ] $ 0.36 $ 0.36
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Market Price at end of period $ 19.50
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EXHIBIT 11.1