**Exhibit11.1**

 

**GREENPOINT FINANCIAL CORP. AND SUBSIDIARIES**

**Exhibit11.1**

**StatementRegarding Computation of Per Share Earnings**

 
|                                                                                                                  |   | **Quarter Ended  March 31,** |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|------------------------------|--------|
| ***(In millions, except per share amounts)***                                                                         |   | **2002**                     |   | **2001** |   |
|                                                                                                                  |   |                         |   |   |   |
| Net  income from continuing operations                                                                                |   | $                            | 120    |   | $ | 73 |   |
| Net  income from discontinued operations                                                                              |   | 2                            |   | 5 |   |
| Net  income                                                                                                           |   | $                            | 122    |   | $ | 78 |   |
|                                                                                                                  |   |                         |   |   |   |
| Weighted  average number of common shares outstanding during each period – basic                                 |   | 88.8                         |   | 88.3 |   |
|                                                                                                                  |   |                         |   |   |   |
| Effect  of dilutive securities – stock options                                                                   |   | 2.5                          |   | 2.2 |   |
|                                                                                                                  |   |                         |   |   |   |
| Weighted  average number of common shares and common stock equivalents outstanding  during each period – diluted |   | 91.3                         |   | 90.5 |   |
|                                                                                                                  |   |                         |   |   |   |
| **Basic earnings per share:**                                                                                         |   |                         |   |   |   |
| Net  income from continuing operations                                                                                |   | $                            | 1.36   |   | $ | 0.83 |   |
| Net  income from discontinued operations                                                                              |   | 0.01                         |   | 0.05 |   |
| Net  income                                                                                                           |   | $                            | 1.37   |   | $ | 0.88 |   |
|                                                                                                                  |   |                         |   |   |   |
| **Diluted earnings per share:**                                                                                       |   |                         |   |   |   |
| Net  income from continuing operations                                                                                |   | $                            | 1.32   |   | $ | 0.81 |   |
| Net  income from discontinued operations                                                                              |   | 0.01                         |   | 0.05 |   |
| Net  income                                                                                                           |   | $                            | 1.33   |   | $ | 0.86 |   |

 

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