. . . EXHIBIT 11 CHARTER ONE FINANCIAL, INC. COMPUTATION OF PER SHARE EARNINGS THREE MONTHS ENDED ------------------------ 3/31/03 3/31/02 ----------- ----------- (DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA) BASIC EARNINGS PER SHARE(1): Net income............................... $ 147,491 $ 142,485 =========== =========== Weighted average common shares outstanding............................. 224,997,398 231,684,629 =========== =========== Basic earnings per share................. $ .66 $ .61 =========== =========== DILUTED EARNINGS PER SHARE(1): Net income............................... $ 147,491 $ 142,485 =========== =========== Weighted average common shares outstanding............................. 224,997,398 231,684,629 Add common stock equivalents for shares issuable under stock option plans 5,463,449 6,537,305 ----------- ----------- Weighted average common and common equivalent shares outstanding........... 230,460,847 238,221,934 =========== =========== Diluted earnings per share............... $ .64 $ .60 =========== =========== - ---------- (1) Restated to reflect the 5% stock dividend issued September 30, 2002. 25