<PAGE>
Exhibit 11. Computation of Earnings Per Common Share
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
(Dollars in Thousands Except Per Share Data
and Number of Shares)
---------------------------------------------------------------------------------------------------
Weighted Average
Three-Month Periods Ended Number of Shares Net Earnings Per
June 30, Outstanding Income Common Share
---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
2000 10,056,499 $ 949 $0.09
1999 10,081,320 541 0.05
---------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------
(Dollars in Thousands Except Per Share Data
and Number of Shares)
---------------------------------------------------------------------------------------------------
Weighted Average
Six-Month Periods Ended Number of Shares Net Earnings Per
June 30, Outstanding Income Common Share
---------------------------------------------------------------------------------------------------
2000 10,058,280 $4,331 $0.43
1999 10,086,492 3,505 0.35
---------------------------------------------------------------------------------------------------
</TABLE>
Computation of weighted average number of common
and common equivalent shares:
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
Three-Month Periods Ended June 30, 2000 1999
---------------------------------------------------------------------------------------------------
<S> <C> <C>
Common shares outstanding beginning of the period 10,057,999 10,091,721
Weighted average of the common
shares purchased and retired or reissued (1,500) (10,401)
---------------------------------------------------------------------------------------------------
Weighted average number of common shares 10,056,499 10,081,320
===================================================================================================
---------------------------------------------------------------------------------------------------
Six-Month Periods Ended June 30, 2000 1999
---------------------------------------------------------------------------------------------------
Common shares outstanding beginning of the period 10,060,084 10,091,721
Weighted average of the common
shares purchased and retired or reissued (1,804) (5,229)
---------------------------------------------------------------------------------------------------
Weighted average number of common shares 10,058,280 10,086,492
===================================================================================================
</TABLE>
17
