1 AMRESCO CAPITAL TRUST EXHIBIT 11 - COMPUTATION OF PER SHARE EARNINGS (IN THOUSANDS, EXCEPT PER SHARE DATA) Period from February 2, 1998 Year Ended through December 31, December 31, 1999 1998 --------------- --------------- Basic: Net income available to common shareholders $ 7,320 $ 3,952 =============== =============== Weighted average common shares outstanding 10,000 7,027 =============== =============== Basic earnings per common share $ 0.73 $ 0.56 =============== =============== Diluted: Net income available to common shareholders $ 7,320 $ 3,952 =============== =============== Weighted average common shares outstanding 10,000 7,027 Effect of dilutive securities: Restricted shares 12 4 Net effect of assumed exercise of stock options -- -- --------------- --------------- Adjusted weighted average common shares outstanding 10,012 7,031 =============== =============== Diluted earnings per common share $ 0.73 $ 0.56 =============== ===============