Exhibit 11.1
QUAKER CITY BANCORP, INC.
COMPUTATION OF EARNINGS PER SHARE
Three Months Six Months
Ended Ended
December 31, December 31,
1998 1998
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A Average common shares outstanding 5,287,905 5,316,233
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B Net earnings for period $2,081,000 $4,539,000
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Basic earnings per share [ B / A ] $ 0.39 $ 0.85
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Common share equivalents :
C Average stock options outstanding 574,029 574,863
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D Option exercise price $ 8.46 $ 8.47
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E Exercise proceeds [ C x D ] $4,856,285 $4,869,090
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F Average market price in period $ 15.82 $ 16.61
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G Shares repurchased at market price [ E / F ] 306,971 293,142
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H Increase in common shares [ C - G ] 267,058 281,721
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I Shares available in deferred compensation plan 165,905 165,905
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J Shares outstanding and equivalents [ A + H + I ] 5,720,868 5,763,859
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K Net earnings for period $2,081,000 $4,539,000
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Diluted earnings per share [ J / I ] $ 0.36 $ 0.79
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Market price at end of period $ 16.00