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Exhibit 11
FRONTIER NATIONAL CORPORATION AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
The following tabulation presents the calculation of basic and diluted earnings
per common share for the three-month and six-month periods ended June 30, 2000
and 1999. Average shares outstanding have been retroactively adjusted on an
equivalent share basis for the effects of the 3-for-2 stock split as discussed
in the notes to consolidated financial statements.
<TABLE>
<CAPTION>
Three Months Ended June 30 Six Months Ended June 30
-------------------------- -------------------------
2000 1999 2000 1999
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Basic Earnings Per Share:
Net income......................... $ 757,173 $ 612,768 $1,441,194 $1,191,204
========== ========== ========== ==========
Earnings on common shares.......... $ 757,173 $ 612,768 $1,441,194 $1,191,204
========== ========== ========== ==========
Weighted average common shares
outstanding - basic............... 3,416,224 3,468,368 3,415,985 3,470,786
========== ========== ========== ==========
Basic earnings per common share.... $ .22 $ .18 $ .42 $ .34
========== ========== ========== ==========
Diluted Earnings Per Share:
Net income......................... $ 757,173 $ 612,768 $1,441,194 $1,191,204
========== ========== ========== ==========
Weighted average common shares
outstanding - diluted............. 3,484,789 3,513,429 3,485,960 3,515,847
========== ========== ========== ==========
Diluted earnings per common share.. $ .22 $ .17 $ .41 $ .34
========== ========== ========== ==========
</TABLE>
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