FIRST CENTRAL FINANCIAL CORPORATION AND SUBSIDIARIES Exhibit 11
COMPUTATION OF PER COMMON SHARE EARNINGS
Three Months Ended March 31,
1995 1994 1993
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Primary
Net income applicable to common shares $1,472,501 $1,269,266 $ 921,847
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Weighted average number of primary common shares:
Outstanding 5,924,905 5,710,911 5,543,661
Issuable upon assumed exercise of dilutive warrants 36,509 45,422 --
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TOTAL 5,961,414 5,756,333 5,543,661
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Primary earnings per common share $ 0.247 $ 0.220 $ 0.166
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Fully Diluted
Net income applicable to common shares $1,472,501 $1,269,266 $ 921,847
Add interest and amortization of debentures
(net of tax) 97,836 110,558 145,753
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TOTAL $1,570,337 $1,379,824 $1,067,600
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Weighted average number of primary common shares:
Outstanding 5,924,905 5,710,911 5,543,661
Increase to assumed exercise of stock options and
conversion of convertible debt to reflect maximum
dilution effect 915,210 980,326 1,308,667
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TOTAL 6,840,115 6,691,237 6,852,328
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Fully diluted earnings per common share $ 0.230 $ 0.206 $ 0.156
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