<PAGE>
Exhibit 11.0 Statement re: Computation of Per Share Earnings (Unaudited)
Earnings per share were computed as follows (dollar amounts in
thousands except share data):
<TABLE>
<CAPTION>
Weighted
Average Per Share
Income Shares Amount
------ -------- ---------
For the nine month ended September 30, 2000:
--------------------------------------------
<S> <C> <C> <C>
Basic Earnings per Share:
Income available to common stockholders $1,744 1,853,991 $0.94
Effect of Dilutive Securities:
Stock options 37,972
Unearned incentive plan shares 26,221
---------
Diluted Earnings per Share:
Income available to common stockholders and
assumed conversions $1,744 1,918,184 $0.91
====== ========= =====
For the nine months ended September 30, 1999:
---------------------------------------------
Basic Earnings per Share:
Income available to common stockholders $970 1,987,483 $0.49
Effect of Dilutive Securities:
Stock options 42,078
Unearned incentive plan shares 49,699
---------
Diluted Earnings per Share:
Income available to common stockholders and
assumed conversions $970 2,079,260 $0.47
====== ========= =====
</TABLE>
19
<PAGE>
<TABLE>
<CAPTION>
Weighted
Average Per Share
Income Shares Amount
------ -------- ---------
For the three months ended September 30, 1999:
----------------------------------------------
<S> <C> <C> <C>
Basic Earnings per Share:
Income available to common stockholders $317 1,930,132 $0.16
Effect of Dilutive Securities:
Stock options 38,764
Unearned incentive plan shares 44,674
---------
Diluted Earnings per Share:
Income available to common stockholders and
assumed conversions $317 2,013,570 $0.16
==== ========= =====
</TABLE>
Unearned incentive plan shares and stock options were excluded from the earnings
per share calculations for the three months ended September 30, 2000 as they
were anti-dilutive to the loss.
20