EX-11 2 c12472exv11.htm EXHIBIT 11 Exhibit 11
EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE

(In thousands, except share data)
(Unaudited)
                                 
    Three Months Ended     Nine Months Ended  
    December 31,     December 31,  
    2010     2009     2010     2009*  
Earnings per common share — basic
                               
Net (loss) income
  $ (8,188 )   $ 788     $ (34,041 )   $ 1,169  
Less: CPP Preferred Dividends
    82       237       588       712  
Dividends paid and undistributed (losses)/earnings allocated to participating securities
    (59 )     4       (248 )     8  
 
                       
Net Income Available to Common Shareholders
  $ (8,210 )   $ 547     $ (34,381 )   $ 449  
 
                       
 
                               
Weighted average common shares outstanding
    2,484,285       2,474,719       2,483,350       2,473,164  
 
                       
 
                               
Earnings per common share
  $ (3.30 )   $ 0.22     $ (13.84 )   $ 0.18  
 
                       
 
                               
Earnings per common share — diluted
                               
Net income
          $ 788             $ 1,174  
Less: CPP Preferred Dividends
            237               712  
Dividends paid and undistributed earnings allocated to participating securities
            4               8  
 
                           
Net Income Available to Common Shareholders
          $ 547             $ 454  
 
                           
 
                               
Weighted average common shares outstanding — basic
            2,474,719               2,473,164  
Effect of dilutive securities — stock options and unvested restricted stock
            18,223               18,223  
 
                           
Weighted average shares outstanding — diluted
            2,492,942               2,491,387  
 
                           
 
                               
Earnings per common share
          $ 0.22             $ 0.18  
 
                           
*  
Restated as previously disclosed in a Form 8-K filed with the Securities and Exchange Commission on July 15, 2010