QUAKER CITY BANCORP, INC.
COMPUTATION OF EARNINGS PER SHARE
THREE MONTHS NINE MONTHS
ENDED ENDED
MARCH 31, MARCH 31,
1998 1998
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A Average Common Shares Outstanding 4,377,168 4,373,323
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B Net earnings for Period $1,718,000 $4,807,000
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Basic Earnings Per Share [ B / A ] $ 0.39 $ 1.10
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Common Share Equivalents :
C Average Stock Options Outstanding 486,770 478,658
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D Option Exercise Price $ 10.02 $ 10.02
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E Exercise Proceeds [ C x D ] $4,877,435 $4,796,153
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F Average Market Price in Period $ 20.72 $ 20.87
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G Shares Repurchased at Market Price [ E / F ] 235,397 229,811
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H Increase in Common Shares [ C - G ] 251,373 248,847
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I Shares Outstanding and Equivalents [ C + H ] 4,628,541 4,622,170
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J Net earnings for Period $1,718,000 $4,807,000
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Diluted Earnings Per Share [ J / I ] $ 0.37 $ 1.04
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Market Price at end of period $ 22.25
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EXHIBIT 11.1