Exhibit 11. Pennsylvania Commerce Bancorp, Inc.
Computation of Net Income Per Share
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For the Quarter Ended September 30, 2004
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $2,198,000
Preferred stock dividends (20,000)
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Income available to common stockholders 2,178,000 2,335,547 $0.93
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Effect of Dilutive Securities:
Stock Options 189,141
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Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $2,178,000 2,524,688 $0.86
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For the Nine months Ended September 30, 2004
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $6,307,000
Preferred stock dividends (60,000)
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Income available to common stockholders 6,247,000 2,316,922 $2.70
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Effect of Dilutive Securities:
Stock Options 195,767
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Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $6,247,000 2,512,689 $2.49
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For the Quarter Ended September 30, 2003
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $1,526,000
Preferred stock dividends (20,000)
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Income available to common stockholders 1,506,000 2,258,019 $0.67
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Effect of Dilutive Securities:
Stock Options 180,895
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Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $1,506,000 2,438,914 $0.62
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For the Nine months Ended September 30, 2003
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Income Shares Per Share
Amount
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Basic Earnings Per Share:
Net income $4,832,000
Preferred stock dividends (60,000)
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Income available to common stockholders 4,772,000 2,244,947 $2.13
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Effect of Dilutive Securities:
Stock Options 173,987
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Diluted Earnings Per Share:
Income available to common stockholders plus
assumed conversions $4,772,000 2,418,934 $1.97
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