Exhibit 11.1 GREATER BAY BANCORP FORM 10-K EXHIBIT 11.1 -- STATEMENTS RE COMPUTATION OF EARNINGS PER SHARE Years Ended December 31, ------------------------- 1998 1997 ------------ ------------ (Dollars and shares in thousands, except per share amounts) Basic Earnings Per Share: Income available to common shareholders.............. $ 16,578 $ 11,619 ============ =========== Weighted average common shares outstanding........... 9,485,000 9,196,000 ============ =========== Basic earnings per share............................. $ 1.75 $ 1.26 ============ =========== Diluted Earnings Per Share: Income available to common shareholders.............. $ 16,578 $ 11,619 ============ =========== Weighted average common shares outstanding........... 9,485,000 9,196,000 Effect of dilutive securities........................ 746,000 696,000 ------------ ----------- Weighted average common and common equivalent shares outstanding......................................... 10,231,000 9,892,000 ============ =========== Diluted earnings per share........................... $ 1.62 $ 1.17 ============ ===========