EXHIBIT 11
Computation of Earnings per Common Share
Susquehanna Bancshares, Inc.
(in thousands, except per share information) Year Ended December 31,
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1995 1994 1993
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Earnings per Common Share:
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Net income before extraordinary item &
accounting change (EIAC) $26,017 $22,828 $22,182
Less preferred stock dividends 0 0 17
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Net income before EIAC available
to common stockholders $26,017 $22,828 $22,165
Divided by average common shares outstanding 11,674 11,634 11,331
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Earnings per common share before EIAC $ 2.23 $ 1.96 $ 1.96
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Net income $26,017 $22,096 $23,205
Less preferred stock dividends 0 0 17
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Net income available to common stockholders $26,017 $22,096 $23,188
Divided by average common shares outstanding 11,674 11,634 11,331
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Earnings per common share $ 2.23 $ 1.90 $ 2.05
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Earnings per Common Share, Assuming Full Dilution:
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Net income before EIAC $26,017 $22,828 $22,182
Divided by average common shares outstanding,
assuming full dilution 11,674 11,634 11,358
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Earnings per common share before EIAC,
assuming full dilution $ 2.23 $ 1.96 $ 1.95
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Net income $26,017 $22,096 $23,205
Divided by average common shares outstanding,
assuming full dilution 11,674 11,634 11,358
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Earnings per common share, assuming full
dilution $ 2.23 $ 1.90 $ 2.04
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Average Common Shares Outstanding,
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Assuming Full Dilution:
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Average common shares outstanding 11,674 11,634 11,331
Add shares of common stock issued on
conversion of preferred stock 0 0 27
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Average common shares outstanding,
assuming full dilution 11,674 11,634 11,358
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