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Previous: USB HOLDING CO INC, 10-Q, EX-10.(C), 2000-11-13 |
Next: USB HOLDING CO INC, 10-Q, EX-27, 2000-11-13 |
<PAGE>
EXHIBIT 11
U.S.B. HOLDING CO., INC.
COMPUTATION OF EARNINGS PER COMMON SHARE
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
THREE MONTHS NINE MONTHS
ENDED ENDED
SEPTEMBER 30, 2000 SEPTEMBER 30, 2000
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(000'S, EXCEPT SHARE DATA)
<S> <C> <C>
NUMERATOR:
Net income $ 5,046 $ 15,139
Less preferred stock dividends -- 11
----------- -----------
Net income for basic and diluted earnings
per common share - net income available
to common stockholders $ 5,046 $ 15,128
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DENOMINATOR:
Denominator for basic earnings per common
share - weighted average shares 16,554,569 16,547,145
Effects of dilutive securities:
Director and employee stock options 455,930 552,450
Restricted stock not vested 1,252 1,283
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Total effects of dilutive securities 457,182 553,733
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Denominator for diluted earnings per common
share - adjusted weighted average shares 17,011,751 17,100,878
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Basic earnings per common share $ 0.30 $ 0.91
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Diluted earnings per common share $ 0.30 $ 0.88
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</TABLE>
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