<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
------ ------ ------
<S> <C> <C> <C>
FOR THE SIX MONTH ENDED JUNE 30, 2000:
BASIC EARNINGS PER SHARE:
Income available to common stockholders $2,411 1,847,621 $1.30
EFFECT OF DILUTIVE SECURITIES:
Stock options 46,430
Unearned incentive plan shares 32,775
------
DILUTED EARNINGS PER SHARE:
Income available to common stockholders and
assumed conversions $2,411 1,926,826 $1.25
====== ========= =====
FOR THE THREE MONTHS ENDED JUNE 30, 1999:
BASIC EARNINGS PER SHARE:
Income available to common stockholders $653 2,009,159 $0.33
EFFECT OF DILUTIVE SECURITIES:
Stock options 43,766
Unearned incentive plan shares 59,202
---------
DILUTED EARNINGS PER SHARE:
Income available to common stockholders and
assumed conversions $653 2,112,127 $0.31
==== ========= =====
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
WEIGHTED
AVERAGE PER SHARE
INCOME SHARES AMOUNT
------ ------ ------
<S> <C> <C> <C>
FOR THE THREE MONTH ENDED JUNE 30, 2000:
BASIC EARNINGS PER SHARE:
Income available to common stockholders $1,902 1,843,305 $1.03
EFFECT OF DILUTIVE SECURITIES:
Stock options 46,998
Unearned incentive plan shares 30,158
------
DILUTED EARNINGS PER SHARE:
Income available to common stockholders and
assumed conversions $1,902 1,920,461 $0.99
====== ========= =====
FOR THE THREE MONTHS ENDED JUNE 30, 1999:
BASIC EARNINGS PER SHARE:
Income available to common stockholders $312 2,003,225 $0.16
EFFECT OF DILUTIVE SECURITIES:
Stock options 40,211
Unearned incentive plan shares 49,839
---------
DILUTED EARNINGS PER SHARE:
Income available to common stockholders and
assumed conversions $312 2,093,275 $0.15
==== ========= =====
</TABLE>