QUAKER CITY BANCORP, INC.
COMPUTATION OF EARNINGS PER SHARE
THREE MONTHS SIX MONTHS
ENDED ENDED
DECEMBER 31, DECEMBER 31,
1997 1997
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A Average Common Shares Outstanding 4,371,219 4,371,401
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B Net earnings for Period $1,559,000 $3,089,000
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Basic Earnings Per Share [ B / A ] $ 0.36 $ 0.71
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Common Share Equivalents :
C Average Stock Options Outstanding 491,437 474,602
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D Option Exercise Price $ 9.98 $ 9.98
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E Exercise Proceeds [ C x D ] $4,904,541 $4,736,528
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F Average Market Price in Period $ 21.41 $ 20.95
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G Shares Repurchased at Market Price [ E / F ] 229,077 226,087
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H Increase in Common Shares [ C - G ] 262,360 248,515
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I Shares Outstanding and Equivalents [ C + H ] 4,633,579 4,619,916
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J Net earnings for Period $1,559,000 $3,089,000
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Diluted Earnings Per Share [ J / I ] $ 0.34 $ 0.67
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Market Price at end of period $ 21.25
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EXHIBIT 11.1