EX-11 2 exhibit11.txt EXHIBIT 11 Exhibit 11. Pennsylvania Commerce Bancorp, Inc.
Computation of Net Income Per Share -------------------------------------------------------------------------------------------------- For the Quarter Ended September 30, 2004 -------------------------------------------------------------------------------------------------- Income Shares Per Share Amount -------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $2,198,000 Preferred stock dividends (20,000) ------- Income available to common stockholders 2,178,000 2,335,547 $0.93 -------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 189,141 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $2,178,000 2,524,688 $0.86 -------------------------------------------------------------------------------------------------- For the Nine months Ended September 30, 2004 -------------------------------------------------------------------------------------------------- Income Shares Per Share Amount -------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $6,307,000 Preferred stock dividends (60,000) ------- Income available to common stockholders 6,247,000 2,316,922 $2.70 -------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 195,767 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $6,247,000 2,512,689 $2.49 -------------------------------------------------------------------------------------------------- For the Quarter Ended September 30, 2003 -------------------------------------------------------------------------------------------------- Income Shares Per Share Amount -------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $1,526,000 Preferred stock dividends (20,000) ------- Income available to common stockholders 1,506,000 2,258,019 $0.67 -------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 180,895 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $1,506,000 2,438,914 $0.62 -------------------------------------------------------------------------------------------------- For the Nine months Ended September 30, 2003 -------------------------------------------------------------------------------------------------- Income Shares Per Share Amount -------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $4,832,000 Preferred stock dividends (60,000) ------- Income available to common stockholders 4,772,000 2,244,947 $2.13 -------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 173,987 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $4,772,000 2,418,934 $1.97 --------------------------------------------------------------------------------------------------
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