EX-11 2 ex-11.txt EXHIBIT 11 Exhibit 11. Pennsylvania Commerce Bancorp, Inc. Computation of Net Income Per Share
================================================================================================== For the Quarter Ended June 30, 2004 -------------------------------------------------------------------------------------------------- Income Shares Per Share Amount -------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $2,181,000 Preferred stock dividends (20,000) ------- Income available to common stockholders 2,161,000 2,313,457 $0.93 -------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 208,337 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $2,161,000 2,521,794 $0.86 ================================================================================================== For the Six months Ended June 30, 2004 -------------------------------------------------------------------------------------------------- Income Shares Per Share Amount -------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $4,109,000 Preferred stock dividends (40,000) ------- Income available to common stockholders 4,069,000 2,307,508 $1.76 -------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 209,456 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $4,069,000 2,516,964 $1.62 ================================================================================================== For the Quarter Ended June 30, 2003 -------------------------------------------------------------------------------------------------- Income Shares Per Share Amount -------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $1,658,000 Preferred stock dividends (20,000) ------- Income available to common stockholders 1,638,000 2,245,680 $0.73 -------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 177,654 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $1,638,000 2,423,334 $0.68 ================================================================================================== For the Six months Ended June 30, 2003 -------------------------------------------------------------------------------------------------- Income Shares Per Share Amount -------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $3,306,000 Preferred stock dividends (40,000) ------- Income available to common stockholders 3,266,000 2,238,303 $1.46 -------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 171,154 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $3,266,000 2,409,456 $1.36 ==================================================================================================