Exhibit 11.1
NEWMIL BANCORP, INC.
COMPUTATION OF NET INCOME PER COMMON SHARE
(in thousands except per share amounts)
Three months
ended
September 30,
2000 1999
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Net income
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Net income - basic and diluted $1,040 $1,002
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Weighted Average Common and Common
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Equivalent Stock
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Weighted average common stock
outstanding 3,611 3,654
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Assumed conversion as of the
beginning of each period or upon
issuance during a period of stock
options outstanding at the end
of each period 303 358
Assumed purchase of treasury stock
during each period with proceeds
from conversion of stock options
outstanding at the end of each
period (153) (196)
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Weighted average common and common
equivalent stock outstanding
- diluted 3,761 3,816
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Earnings Per Common and Common
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Equivalent Share
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Basic $0.29 $0.27
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Diluted $0.28 $0.26
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