EXHIBIT 11.0
FIRST BELL BANCORP, INC.
COMPUTATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2002 and 2001
(unaudited, in thousands, except per share amounts)
Three Months Ended Three Months Ended
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September 30, 2002 September 30, 2001
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Weighted Weighted
Average Per Average Per
Income Shares Share Income Shares Share
-------- -------- ------- -------- -------- --------
Income available to
Common stockholders $ 2,139 4,774 - $ 1,464 4,758 -
Unearned MRP shares - (181) - - (181) -
Unearned ESOP shares - (443) - - (478) -
-------- -------- ------- -------- -------- --------
Basic earnings per share 2,139 4,150 $ 0.52 1,464 4,099 $ 0.36
Effect of dilutive
securities: - 129 - - 102 -
Stock options -------- -------- ------- -------- -------- --------
Diluted earnings per share $ 2,139 4,279 $ 0.50 $ 1,464 4,201 $ 0.35
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Nine months Ended Nine months Ended
----------------- -----------------
September 30, 2002 September 30, 2001
------------------ ------------------
Weighted Weighted
Average Per Average Per
Income Shares Share Income Shares Share
------ -------- ------- --------- -------- --------
Income available to common
stockholders $ 6,607 4,770 - $ 4,487 4,758 -
--------- -------- --------
Unearned MRP shares - (181) - - (181) -
Unearned ESOP shares - (450) - - (486) -
-------- -------- ------- --------- -------- --------
Basic earnings per share 6,607 4,139 $ 1.60 4,487 4,092 $ 1.10
Effect of dilutive
securities: - 123 - - 99 -
Stock options -------- -------- ------- --------- -------- --------
Diluted earnings per share $ 6,607 4,262 $ 1.55 $ 4,487 4,191 $ 1.07
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