1 AMRESCO CAPITAL TRUST EXHIBIT 11 - COMPUTATION OF PER SHARE EARNINGS (IN THOUSANDS, EXCEPT PER SHARE DATA) Period from February 2, Three Months 1998 Ended through September 30, September 30, 1998 1998 --------------- --------------- Basic: Net income available to common shareholders $ 1,272 $ 2,029 =============== =============== Weighted average common shares outstanding 10,000 5,892 =============== =============== Basic earnings per common share $ 0.12 $ 0.34 =============== =============== Diluted: Net income available to common shareholders $ 1,272 $ 2,029 =============== =============== Weighted average common shares outstanding 10,000 5,892 Effect of dilutive securities: Restricted shares 6 4 Net effect of assumed exercise of stock options -- -- --------------- --------------- Adjusted weighted average common shares outstanding 10,006 5,896 =============== =============== Diluted earnings per common share $ 0.12 $ 0.34 =============== ===============