EXHIBIT 11
COMPUTATION OF PER SHARE EARNINGS
Three months ended
June 30,
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2000 1999
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Net Income $ 807,000 $ 584,000
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Average shares outstanding 1,810,744 2,177,986
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Basic earnings per share $ 0.45 $ 0.27
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Net Income $ 807,000 $ 584,000
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Average shares outstanding 1,810,744 2,177,986
Net effect of dilutive stock options -- --
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Total shares outstanding 1,810,744 2,177,986
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Diluted earnings per share $ 0.45 $ 0.27
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