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Exhibit 11.1
Schedule Regarding Computation of Per Share Earnings
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(000's except per share data)
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<CAPTION>
Six Months Three Months
Ended June 30, Ended June 30,
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2000 1999 2000 1999
------- ------- ------ -------
<S> <C> <C> <C> <C>
Net income $ 1,358 $ 3,571 $ 146 $ 1,845
Less: preferred stock dividends (1,050) (556) (525) (525)
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Income available to common
stockholders $ 1,308 $ 3,015 $ (379) $ 1,320
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Weighted average common shares 7,181 8,130 7,020 8,130
Common equivalent shares:
Dilutive preferred stock -- 2,226 -- 4,286
Dilutive stock options 8 22 -- --
Dilutive warrants -- 225 -- 218
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Common and common equivalent shares 7,189 10,603 7,020 12,655
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Net income (loss) per common share $ 0.04 $ 0.37 $(0.05) $ 0.16
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Net income (loss) per common
equivalent share $ 0.04 $ 0.34 $(0.05) $ 0.15
======= ======= ====== =======
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