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EXHIBIT NUMBER 11
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
The following table shows the computation of the basic and diluted earnings per
share for the nine months ended September 30 (dollars in thousands, except per
share amounts):
<TABLE>
<CAPTION>
---------------------------- -------------------------- -------------------------- --------------------------
Net income Weighted average number Earnings per share
of shares
---------------------------- -------------------------- -------------------------- --------------------------
<S> <C> <C> <C>
9/30/00
---------------------------- -------------------------- -------------------------- --------------------------
Earnings per share, basic $5,056 7,443,036 $.68
---------------------------- -------------------------- -------------------------- --------------------------
Effect of stock options-net 264,926
---------------------------- -------------------------- -------------------------- --------------------------
Earnings per share, diluted $5,056 7,707,962 $.66
---------------------------- -------------------------- -------------------------- --------------------------
9/30/99
---------------------------- -------------------------- -------------------------- --------------------------
Earnings per share, basic $4,932 7,396,062 $.67
---------------------------- -------------------------- -------------------------- --------------------------
Effect of stock options-net 298,376
--------------------------- -------------------------- -------------------------- --------------------------
Earnings per share, diluted $4,932 7,694,438 $.64
---------------------------- -------------------------- -------------------------- --------------------------
</TABLE>
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