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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 nine-month periods ended September 30,
2000 and 1999.
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
---------------------- ----------------------
2000 1999 2000 1999
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Basic Earnings Per Share:
Net income......................... $ 428,526 $ 612,768 $1,869,720 $1,191,204
========== ========== ========== ==========
Earnings on common shares.......... $ 428,526 $ 612,768 $1,869,720 $1,191,204
========== ========== ========== ==========
Weighted average common shares
outstanding - basic............... 3,418,243 3,440,010 3,416,748 3,460,060
========== ========== ========== ==========
Basic earnings per common share.... $ .13 $ .15 $ .55 $ .49
========== ========== ========== ==========
Diluted Earnings Per Share:
Net income......................... $ 428,526 $ 612,768 $1,869,720 $1,191,204
========== ========== ========== ==========
Weighted average common shares
outstanding - diluted............. 3,492,566 3,485,010 3,485,083 3,505,060
========== ========== ========== ==========
Diluted earnings per common share.. $ .12 $ .15 $ .54 $ .49
========== ========== ========== ==========
</TABLE>
