EXHIBIT 11. STATEMENT REGARDING COMPUTATION OF PER SHARE INCOME (LOSS)
B.M.J. Financial Corp. and Subsidiaries
Computation of Income (Loss) Per Common Share
Twelve Months Ended
(In thousands except for number December 31,
of shares and per share amounts) -----------------------------------------------
1995 1994 1993
Income before cumulative effect
of change in accounting principle ..................... $ 8,314 $ 12,507 $ 610
Cumulative effect of change in accounting principle ........ -- -- (1,500)
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Net income (loss) .......................................... $ 8,314 $ 12,507 ($ 890)
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Weighted average outstanding common shares for
computation of primary income (loss) per share ........ 7,604,506 7,572,691 6,919,854
Additional common stock equivalents ........................ 106,382 45,370 --
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Adjusted average outstanding shares for
computation of primary income (loss) per share ........ 7,710,888 7,618,061 6,919,854
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Primary income per share before cumulative effect
of change in accounting principle ..................... $ 1.08 $ 1.64 $ 0.09
Cumulative per share effect of change in
accounting principle .................................. -- -- (0.22)
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Primary income (loss) per share ............................ $ 1.08 $ 1.64 ($ 0.13)
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Net income (loss) .......................................... $ 8,314 $ 12,507 ($ 890)
Adjustment to interest expense for reduction
of existing debt, net of tax effect ................... 131 134 --
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Net income (loss), as adjusted, for computation
of fully diluted income (loss) per share .............. $ 8,445 $ 12,641 ($ 890)
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Weighted average outstanding common shares ................. 7,604,506 7,572,691 6,919,854
Additional shares issued assuming conversion of
convertible capital notes and exercise of stock options 305,952 311,642 --
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Adjusted average outstanding shares for computation
of fully diluted income (loss) per share .............. 7,910,458 7,884,333 6,919,854
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Fully diluted income (loss) per share ...................... $ 1.07 $ 1.60 ($ 0.13)
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