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EXHIBIT 11
STATEMENT RE COMPUTATION
OF PER SHARE EARNINGS
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<CAPTION>
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Numerator:
Net income for basic and
diluted earnings per share $ 157,000 444,000 $ 419,000 $ 902,000
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Denominator:
Denominator for basic earnings
per common share -
weighted-average shares 3,981,664 3,979,367 3,981,664 3,978,284
Effect of dilutive securities:
Employee stock options -- 9,662 -- 8,216
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Denominator for diluted earnings
per common share -
weighted-average shares 3,981,664 3,989,029 3,981,664 3,986,500
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Basic earnings per common share $ 0.04 $ 0.11 $ 0.11 $ 0.23
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Diluted earnings per common share $ 0.04 $ 0.11 $ 0.11 $ 0.23
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