EX-11 4 dex11.txt COMPUTATION OF PER SHARE EARNINGS Exhibit 11 GBC BANCORP Computation of Per Share Earnings
2001 2000 1999 Basic Diluted Basic Diluted Basic Diluted Average Shares Outstanding Common Stock 11,673,000 11,673,000 11,554,000 11,554,000 12,430,000 12,430,000 Common Stock Equivalents Stock Options - 197,000 - 486,000 - 417,000 Assumed Repurchase of Treasury Shares - (122,000) - (227,000) - (175,000) Average Common Stock and Common Stock Equivalent Shares Outstanding 11,673,000 11,748,000 11,554,000 11,813,000 12,430,000 12,672,000 Income before Cumulative Effect of a Change in Accounting Principle $ 27,640,000 $ 27,640,000 $ 39,867,000 $ 39,867,000 $ 29,988,000 $ 29,988,000 Cumulative Effect of a Change in Accounting Principle $ 4,962,000 $ 4,962,000 $ - $ - $ - $ - Net Income $ 32,602,000 $ 32,602,000 $ 39,867,000 $ 39,867,000 $ 29,988,000 $ 29,988,000 Earnings Per Share: Income before Cumulative Effect of a Change in Accounting Principle $ 2.37 $ 2.36 $ 3.45 $ 3.37 $ 2.41 $ 2.37 Cumulative Effect of a Change in Accounting Principle $ 0.42 $ 0.42 $ - $ - $ - $ - Earnings Per Share $ 2.79 $ 2.78 $ 3.45 $ 3.37 $ 2.41 $ 2.37