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EXHIBIT 11
CHARTER ONE FINANCIAL, INC.
COMPUTATION OF PER SHARE EARNINGS
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1999 1998 1999 1998
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(DOLLARS IN THOUSANDS, EXCEPT PER SHARE)
BASIC EARNINGS PER SHARE(1):
Weighted average number of common
shares outstanding ......................... 166,238,400 165,978,203 166,009,365 165,771,076
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Net income ................................... $ 92,501 $ 79,359 $ 180,636 $ 153,412
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Basic earnings per share ..................... .56 .48 1.09 .93
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DILUTED EARNINGS PER SHARE(1):
Weighted average number of common
shares outstanding ......................... 166,238,400 165,978,203 166,009,365 165,771,076
Add common stock equivalents for shares
issuable under Stock Option Plan ........... 3,993,263 6,445,160 4,117,594 6,145,382
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Weighted average number of common and
common equivalent shares outstanding ....... 170,231,663 172,423,363 170,126,959 171,916,458
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Net income ................................... $ 92,501 $ 79,359 $ 180,636 $ 153,412
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Diluted earnings per share ................... .54 .46 1.06 .89
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(1) Restated to reflect the 5% stock dividend issued September 30, 1998.
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