EX-11 3 exhibit11.txt Exhibit 11.
Pennsylvania Commerce Bancorp, Inc. Computation of Net Income Per Share --------------------------------------------------------------------------------------------------- For the Quarter Ended June 30, 2002 --------------------------------------------------------------------------------------------------- Income Shares Per Share Amount --------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $1,347,000 Preferred stock dividends (20,000) -------- Income available to common stockholders 1,327,000 1,965,053 $0.68 --------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 218,447 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $1,327,000 2,183,500 $0.61 --------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- For the Six Months Ended June 30, 2002 --------------------------------------------------------------------------------------------------- Income Shares Per Share Amount --------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $2,637,000 Preferred stock dividends (40,000) -------- Income available to common stockholders 2,597,000 1,928,211 $1.35 --------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 202,120 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $2,597,000 2,130,331 $1.21 --------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- For the Quarter Ended June 30, 2001 --------------------------------------------------------------------------------------------------- Income Shares Per Share Amount --------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $1,068,000 Preferred stock dividends (20,000) -------- Income available to common stockholders 1,048,000 1,849,605 $0.56 --------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 200,010 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $1,048,000 2,049,615 $0.51 --------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- For the Six Months Ended June 30, 2001 --------------------------------------------------------------------------------------------------- Income Shares Per Share Amount --------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $1,991,000 Preferred stock dividends (40,000) -------- Income available to common stockholders 1,951,000 1,846,909 $1.05 --------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 192,948 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $1,951,000 2,039,857 $0.96 ---------------------------------------------------------------------------------------------------