Exhibit 11
WEST ESSEX BANCORP, INC.
COMPUTATION OF EARNINGS PER SHARE
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Three Months Ended Six Months Ended
June 30, June 30,
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2002 2001 2002 2001
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Net income $ 855,756 $ 712,166 $1,660,199 $1,510,326
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Weighted average number of common shares outstanding 4,708,626 4,779,825 4,729,225 4,780,196
Common stock equivalents due to dilutive effect
of potential common shares 131,215 82,978 127,807 76,133
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Total weighted average number of common shares
and common share equivalents outstanding 4,839,841 4,862,803 4,857,032 4,856,329
========== ========== ========== ==========
Basic earnings per common share $ 0.18 $ 0.15 $ 0.35 $ 0.32
Diluted earnings per common share $ 0.18 $ 0.15 $ 0.34 $ 0.31