Exhibit 11

GBC BANCORP
Computation of Per Share Earnings
with Common Stock Options Outstanding
(Treasury Stock Method)

	2002						2001					2000
	Basic			Diluted			Basic		Diluted			Basic		Diluted
Average Shares Outstanding Common Stock		11,610,000			11,610,000			11,673,000		11,673,000			11,554,000		11,554,000
Common Stock Equivalents Stock Options		—			—			—		197,000			—		486,000
Assumed Repurchase of Treasury Shares		—			—			—		(122,000	)		—		(227,000	)
Average Common Stock and Common Stock Equivalent Shares Outstanding		11,610,000			11,610,000			11,673,000		11,748,000			11,554,000		11,813,000
(Loss)/Income before Cumulative Effect of a Change in Accounting Principle	$	(5,790,000	)	$	(5,790,000	)	$	27,640,000	$	27,640,000		$	38,476,000	$	38,476,000
Cumulative Effect of a Change in Accounting Principle	$	—		$	—		$	4,962,000	$	4,962,000		$	—	$	—
Net (Loss) / Income	$	(5,790,000	)	$	(5,790,000	)	$	32,602,000	$	32,602,000		$	38,476,000	$	38,476,000
(Loss)/Earnings Per Share:
(Loss)/Income before Cumulative Effect of a Change in Accounting Principle	$	(0.50	)	$	(0.50	)	$	2.37	$	2.36		$	3.33	$	3.26
Cumulative Effect of a Change in Accounting Principle	$	—		$	—		$	0.42	$	0.42		$	—	$	—
(Loss) / Earnings Per Share	$	(0.50	)	$	(0.50	)	$	2.79	$	2.78		$	3.33	$	3.26