Exhibit 11 Greater Bay Bancorp Form 10-Q Statements Re Computation of Earnings Per Share Three Months Ended September 30, Nine Months Ended September 30, (Dollars and shares in thousands, except per share amounts) 1998 1997 1998 1997 - --------------------------------------------------------------------------------------------------- ------------------------------ Basic Earnings Per Share: Income available to common shareholders $ 4,394 $ 3,822 $ 11,595 $ 9,822 Weighted average common shares outstanding 9,525,000 9,220,000 9,448,000 9,181,000 -------------------------------------- ----------------------------- Basic earnings per share $ 0.46 $ 0.41 $ 1.23 $ 1.06 ====================================== ============================= Diluted Earnings Per Share: Income available to common shareholders $ 4,394 $ 3,822 $ 11,595 $ 9,822 Weighted average common shares outstanding 9,525,000 9,220,000 9,448,000 9,181,000 Effect of dilutive securities 698,000 723,000 756,000 609,000 -------------------------------------- ----------------------------- Weighted average common and common equivalent shares outstanding 10,223,000 9,943,000 10,204,000 9,790,000 -------------------------------------- ----------------------------- Diluted earnings per share $ 0.43 $ 0.36 $ 1.14 $ 1.00 ====================================== =============================