EX-11 3 k64530ex11.txt STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE 1 EXHIBIT 11 Flagstar Capital Corporation Computation of Net Earnings per Share (In thousands, except per share data) In order to calculate net earnings per share of common stock, the Company must first subtract the dividend requirements of the Series A Preferred Shares to arrive at net earnings available to the common stockholders. Net earnings per share are calculated by dividing net earnings available to common stockholders by the average number of common shares outstanding during the period.
For the For the For the For the quarter quarter six months six months ended ended ended ended June 30, June 30, June 30, June 30, 2001 2000 2001 2000 -------- -------- ---------- ---------- Net Earnings $1,791 $1,757 $3,683 $3,417 Less: preferred stock dividends 1,222 1,222 2,444 2,444 ------ ------ ------ ------ Net income available to common stock $ 569 $ 535 $1,239 $ 973 ====== ====== ====== ====== Average common shares outstanding 1,000 1,000 1,000 1,000 Net earnings per share - basic $ 0.57 $ 0.53 $ 1.24 $ 0.97