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Previous: FLAGSTAR CAPITAL CORP, 10-Q, 2000-11-13 |
Next: FLAGSTAR CAPITAL CORP, 10-Q, EX-27, 2000-11-13 |
<PAGE> 1
EXHIBIT 11
Flagstar Capital Corporation
Computation of Net Earnings per Share
(In thousands, except per share data)
In order to calculate net earnings per share of common stock, the Company must
first subtract the dividend requirements of the Series A Preferred Shares to
arrive at net earnings available to the common stockholders. Net earnings per
share is calculated by dividing net earnings available to common stockholders by
the average number of common shares outstanding during the period.
<TABLE>
<CAPTION>
For the For the For the For the
quarter quarter nine months nine months
ended ended ended ended
September September September September
30, 30, 30, 30,
2000 1999 2000 1999
--------------- -------------- ---------------- ----------------
<S> <C> <C> <C> <C>
Net Earnings $ 1,914 $ 1,880 $ 5,331 $ 5,284
Less: preferred stock dividends 1,222 1,222 3,666 3,666
--------------- -------------- ---------------- ----------------
Net income available to common stock $ 692 $ 658 $ 1,665 $ 1,618
=============== ============== ================ ================
Average common shares outstanding 1,000 1,000 1,000 1,000
Net earnings per share - basic $ 0.69 $ 0.66 $ 1.66 $ 1.62
</TABLE>
12
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