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EXHIBIT 11
GATEWAY BANCSHARES, INC.
CONSOLIDATED STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
(unaudited)
The following tabulation presents the calculation of basic and diluted earnings
per common share for the three- and nine-month periods ended September 30, 2000
and 1999.
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
-------------------------------- --------------------------------
September 30, September 30, September 30, September 30,
2000 1999 2000 1999
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Basic net income $ 232,597 $ 187,875 $ 618,298 $295,313
========= ========= ========= ========
Basic earnings on common shares $ 232,597 $ 187,875 $ 618,298 $295,313
========= ========= ========= ========
Weighted average common shares outstanding, basic 679,048 679,048 679,048 679,048
========= ========= ========= ========
Basic earnings per common share $ 0.34 $ 0.28 $ 0.91 $ 0.43
========= ========= ========= ========
Basic net income per common share $ 0.34 $ 0.28 $ 0.91 $ 0.43
========= ========= ========= ========
Diluted net income $ 232,597 $ 187,875 $ 618,298 $295,313
========= ========= ========= ========
Diluted earnings on common shares $ 232,597 $ 187,875 $ 618,298 $295,313
========= ========= ========= ========
Weighted average common shares outstanding, diluted 680,054 679,377 680,054 679,377
========= ========= ========= ========
Diluted earnings per common share $ 0.34 $ 0.28 $ 0.91 $ 0.43
========= ========= ========= ========
Diluted net income per common share $ 0.34 $ 0.28 $ 0.91 $ 0.43
========= ========= ========= ========
</TABLE>
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