Exhibit 11. Pennsylvania Commerce Bancorp, Inc.
Computation of Net Income Per Share
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For the Quarter Ended June 30, 2003
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $1,658,000
Preferred stock dividends (20,000)
Income available to common stockholders 1,638,000 2,138,743 $0.77
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Effect of Dilutive Securities:
Stock Options 169,195
Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $1,638,000 2,307,938 $0.71
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For the Six Months Ended June 30, 2003
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $3,306,000
Preferred stock dividends (40,000)
Income available to common stockholders 3,266,000 2,131,717 $1.53
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Effect of Dilutive Securities:
Stock Options 163,003
Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $3,266,000 2,294,720 $1.42
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For the Quarter Ended June 30, 2002
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $1,347,000
Preferred stock dividends (20,000)
Income available to common stockholders 1,327,000 2,063,305 $0.65
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Effect of Dilutive Securities:
Stock Options 229,369
Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $1,327,000 2,292,674 $0.58
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For the Six Months Ended June 30, 2002
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $2,637,000
Preferred stock dividends (40,000)
Income available to common stockholders 2,597,000 2,024,621 $1.28
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Effect of Dilutive Securities:
Stock Options 212,226
Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $2,597,000 2,236,847 $1.16
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