**Exhibit
      11.0**


**Statement
      Re: Computation of Per Share Earnings**











**For
                the Year Ended December 31,***(Dollars
                in thousands, except share and per share data)*
            
            **2006**
            
            **2005**
            
            **2004**Net
                income (loss), as reported
            
            $
            29,765
            
            $
            17,955
            
            $
            (9,349
            )Less:
                preferred stock dividends
            
            
            --
            
            
            --
            
            
            --Net
                income (loss) available to common shareholders
            
            $
            29,765
            
            $
            17,955
            
            $
            (9,349
            )Basic
                - weighted-average shares
            
            
            22,477,213
            
            
            20,349,515
            
            
            18,375,864Basic
                EPS
            
            $
            1.32
            
            $
            0.88
            
            $
            (0.51
            )Basic
                - weighted-average shares
            
            
            22,477,213
            
            
            20,349,515
            
            
            18,375,864Incremental
                shares-options(1)(2)(3)
            
            
            801,162
            
            
            933,705
            
            
            --Diluted
                - weighted-average shares
            
            
            23,278,375
            
            
            21,283,220
            
            
            18,375,864Diluted
                EPS
            
            $
            1.28
            
            $
            0.84
            
            $
            (0.51
            )





*(1)*  *For
      the year ended December 31, 2006, the weighted average of approximately 204,000
      unvested restricted stock awards (including approximately 58,000 restricted
      stock awards granted during the fourth quarter of 2006) are included in the
      calculation of diluted earnings per share. Also, for the year ended December
      31,
      2006, approximately 29,000 out-of-the-money employee stock options, on a
      weighted average basis, were excluded from the calculation of diluted earnings
      per share since their effect is anti-dilutive.*





*(2)*  *For
      the year ended December 31, 2005, the weighted average of approximately 157,000
      restricted stock awards granted on November 9, 2005 are included in the
      calculation of diluted earnings per share. Also, for the year ended December
      31,
      2005, approximately 68,000 out-of-the-money employee stock options, on a
      weighted average basis, were excluded from the calculation of diluted earnings
      per share since their effect is anti-dilutive.*





*(3)*  *For
      the year ended December 31, 2004, approximately 1.0 million in-the-money
      employee stock options were excluded from the calculation of diluted earnings
      per share since their effect is anti-dilutive. Also, for the year ended December
      31, 2004, approximately 44,000 out-of-the-money employee stock options, on
      a
      weighted average basis, were excluded from the calculation of diluted earnings
      per share since their effect is anti-dilutive.*





On
      April 10,
      2006,
      we closed of a private placement of 2,500,000 newly issued shares, from
      authorized but unissued shares, of our
      common stock at a price of $8.25 per share to a combination of new and existing
      institutional investors. We received proceeds of approximately $19.3 million,
      after deducting expenses payable in connection with this offering. The
      proceeds were used to repay warehouse financings and originate mortgage
      loans.





On
      July
      26, 2004, we closed a public offering of 4,375,000 shares of our common stock
      at
      a price of $6.50 per share. We sold 3,137,597 of these shares from authorized
      but unissued shares and existing stockholders sold 1,237,403 shares. In August
      2004, the underwriters exercised a portion of their over-allotment option,
      which
      resulted in existing shareholders selling 85,000 additional shares on August
      25,
      2004. We received approximately $18.7 million in net proceeds from the offering,
      which excludes the proceeds related to those shares sold by existing
      stockholders and after underwriting and other related professional fees. The
      proceeds were used to repay warehouse financings and originate mortgage
      loans.