Exhibit 11.
Pennsylvania Commerce Bancorp, Inc.
Computation of Net Income Per Share
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For the Quarter Ended September 30, 2001
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $1,181,000
Preferred stock dividends (20,000)
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Income available to common stockholders 1,161,000 1,766,653 $0.66
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Effect of Dilutive Securities:
Stock Options 189,845
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Diluted Earnings Per Share:
Income available to common stockholders
plus assumed conversions $1,161,000 1,956,498 $0.59
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For the Nine Months Ended September 30, 2001
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $3,172,000
Preferred stock dividends (60,000)
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Income available to common stockholders 3,112,000 1,761,553 $1.77
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Effect of Dilutive Securities:
Stock Options 184,334
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Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $3,112,000 1,945,887 $1.60
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For the Quarter Ended September 30, 2000
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $1,014,000
Preferred stock dividends (20,000)
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Income available to common stockholders 994,000 1,735,657 $0.57
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Effect of Dilutive Securities:
Stock Options 129,312
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Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $994,000 1,864,969 $0.53
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For the Nine Months Ended September 30, 2000
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $2,650,000
Preferred stock dividends (60,000)
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Income available to common stockholders 2,590,000 1,733,557 $1.49
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Effect of Dilutive Securities:
Stock Options 118,401
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Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $2,590,000 1,851,958 $1.40
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