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