EX-11 3 exhibit11.txt
Exhibit 11. Pennsylvania Commerce Bancorp, Inc. Computation of Net Income Per Share --------------------------------------------------------------------------------------------------- For the Quarter Ended March 31, 2003 --------------------------------------------------------------------------------------------------- Income Shares Per Share Amount --------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $1,648,000 Preferred stock dividends (20,000) -------- Income available to common stockholders 1,628,000 2,124,614 $0.77 --------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 163,365 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $1,628,000 2,287,979 $0.71 --------------------------------------------------------------------------------------------------- For the Quarter Ended March 31, 2002 --------------------------------------------------------------------------------------------------- Income Shares Per Share Amount --------------------------------------------------------------------------------------------------- Basic Earnings Per Share: Net income $1,290,000 Preferred stock dividends (20,000) -------- Income available to common stockholders 1,270,000 1,985,507 $0.64 --------------------------------------------------------------------------------------------------- Effect of Dilutive Securities: Stock Options 240,223 ------- Diluted Earnings Per Share: Income available to common stockholders plus assumed conversions $1,270,000 2,225,730 $0.57 ---------------------------------------------------------------------------------------------------