Exhibit 11
COMMERCIAL FEDERAL CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(Unaudited)
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Three Months Ended
September 30,
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1998 1997
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COMPUTATION OF INCOME PER BASIC AND DILUTED SHARES:
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Net income $15,122,794 $25,955,000
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BASIC EARNINGS PER SHARE:
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Weighted average number of common shares
outstanding used in basic earnings per share calculation 58,605,879 55,247,359
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Net income $ .26 $ .47
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DILUTED EARNINGS PER SHARE:
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Weighted average number of common shares
outstanding used in basic earnings per share calculation 58,605,879 55,247,359
Add assumed exercise of outstanding stock options
as adjustments for dilutive securities 842,023 1,309,216
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Weighted average number of common shares
outstanding used in diluted earnings per share calculation 59,447,902 56,556,575
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Net income $ .25 $ .46
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