Exhibit 11



QUAKER CITY BANCORP



COMPUTATION OF EARNINGS PER SHARE



|  |  |                                            |  | For the YearEndedJune 30, 2003 |            | For the YearEndedJune 30, 2002 |   | For the YearEndedJune 30, 2001
|- |  | ------------------------------------------ |  | ------------------------------ | ---------- | ------------------------------ | - | ------------------------------
|A |  | Average common shares outstanding          |  |                                | 6,324,760  |                                |   | 6,347,127                     
|  |  |                                            |  |                                |            |                                |   |                               
|B |  | Net earnings for period                    |  | $                              | 22,605,000 |                                | $ | 21,191,000                    
|  |  |                                            |  |                                |            |                                |   |                               
|  |  | Basic earnings per share [B / A]           |  | $                              | 3.57       |                                | $ | 3.34                          
|  |  |                                            |  |                                |            |                                |   |                               
|  |  | Common share equivalents:                  |  |                                |            |                                |   |                               
|C |  | Average stock options outstanding          |  |                                | 727,116    |                                |   | 862,771                       
|  |  |                                            |  |                                |            |                                |   |                               
|D |  | Average option exercise price              |  | $                              | 15.73      |                                | $ | 11.34                         
|  |  |                                            |  |                                |            |                                |   |                               
|E |  | Exercise proceeds [C x D]                  |  | $                              | 11,437,535 |                                | $ | 9,783,823                     
|  |  |                                            |  |                                |            |                                |   |                               
|F |  | Tax benefit on non-qualified options       |  | $                              | 4,616,521  |                                | $ | 3,394,735                     
|  |  |                                            |  |                                |            |                                |   |                               
|G |  | Total exercise proceeds [E + F]            |  | $                              | 16,054,056 |                                | $ | 13,178,558                    
|  |  |                                            |  |                                |            |                                |   |                               
|H |  | Average market price in period             |  | $                              | 35.03      |                                | $ | 25.50                         
|  |  |                                            |  |                                |            |                                |   |                               
|I |  | Shares repurchased at market price [G / H] |  |                                | 458,294    |                                |   | 516,806                       
|  |  |                                            |  |                                |            |                                |   |                               
|J |  | Increase in common shares [C - I]          |  |                                | 268,822    |                                |   | 345,965                       
|  |  |                                            |  |                                |            |                                |   |                               
|K |  | Shares outstanding and equivalents [A + J] |  |                                | 6,593,582  |                                |   | 6,693,092                     
|  |  |                                            |  |                                |            |                                |   |                               
|L |  | Net earnings for period                    |  | $                              | 22,605,000 |                                | $ | 21,191,000                    
|  |  |                                            |  |                                |            |                                |   |                               
|  |  | Diluted earnings per share [L / K]         |  | $                              | 3.43       |                                | $ | 3.17                          
|  |  |                                            |  |                                |            |                                |   |