EX-11.EX11.1 2 december312011exhibit11.htm COMPUTATION OF EARNING PER SHARE
EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except share data)
(Unaudited)

|  | Three Months Ended |  | Nine Months Ended
|  | December 31, |  | December 31,
|  | 2011 | 2010 |  | 2011 | 2010
Loss per common share - basic |  |  |  |  |  |
Net loss |  | $ | (680 | ) | $ | (8,188 | ) |  | $ | (16,260 | ) | $ | (34,041 | )
Less: Capital Purchased Program "CPP" Preferred Dividends (1) |  | — |  | 82 |  |  | 288 |  | 588 |
Dividends paid and undistributed (losses)/earnings allocated to participating securities |  |  | (59 | ) |  | — |  | (248 | )
Net Loss Available to Common Shareholders |  | $ | (680 | ) | $ | (8,211 | ) |  | $ | (16,548 | ) | $ | (34,381 | )
Weighted average common shares outstanding |  | 2,621,340 |  | 165,619 |  |  | 984,348 |  | 165,557 |
Loss per common share (2) |  | $ | (0.26 | ) | $ | (49.58 | ) |  | $ | (16.81 | ) | $ | (207.67 | )
Diluted Loss per common share |  | N/A |  | N/A |  |  | N/A |  | N/A |

(1) Includes $96 of accrued preferred dividends from the three month period ended March 31, 2011
(2) Common share count for all periods presented reflects a 1 for 15 reverse stock split which was effective on October 27, 2011