Exhibit 11.0
Affiliated Community Bancorp, Inc.
Computation of Primary and Fully Diluted Earnings Per Share (Note 4)
(Dollars in thousands, except share amounts)
(Unaudited)
Three Months Ended Nine Months Ended
------------------------ ------------------------
September 30, September 30,
------------------------ ------------------------
1997 1996 1997 1996
--------- --------- --------- ---------
Primary:
Weighted average shares 6,474,523 6,357,889 6,461,056 6,376,205
ESOP shares not released or committed to be released (98,153) (75,845) (105,521) (80,292)
--------- --------- --------- ---------
6,376,370 6,282,044 6,355,535 6,295,913
Common stock equivalents:
Stock Options 305,622 177,780 267,793 154,166
--------- --------- --------- ---------
Primary weighted average shares 6,681,992 6,459,824 6,623,328 6,450,079
========= ========= ========= =========
Net income $2,949 $1,302 $8,828 $5,824
========= ========= ========= =========
Earnings per share $0.44 $0.20 $1.33 $0.90
========= ========= ========= =========
Fully diluted:
Weighted average shares 6,474,523 6,357,889 6,461,056 6,376,205
ESOP shares not released or committed to be released (98,153) (75,845) (105,521) (80,292)
--------- --------- --------- ---------
6,376,370 6,282,044 6,355,535 6,295,913
Common stock equivalents:
Stock Options 329,912 200,439 323,282 200,161
--------- --------- --------- ---------
Fully diluted weighted average shares 6,706,282 6,482,483 6,678,817 6,496,074
========= ========= ========= =========
Net income $2,949 $1,302 $8,828 $5,824
========= ========= ========= =========
Earnings per share $0.43 $0.20 $1.32 $0.90
========= ========= ========= =========
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