EXHIBIT 11.1
Computation of Earnings per Common Share
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
June 30, June 30,
2000 1999 2000 1999
---------- ------------ ---------- ------------
<S> <C> <C> <C> <C>
Basic Earnings
Net Income to Common Shares $3,535,160 $1,318,522 $4,414,160 $ 185,979
Basic Shares
Weighted Average Outstanding 4,339,940 4,221,018 4,339,940 3,626,639
Basic Earnings (Loss) per Share $ 0.81 $ 0.31 $ 1.02 $ 0.03
=========== ========== ========== ==========
Diluted Shares
Weighted Average Outstanding 4,443,336 4,221,018 4,414,449 3,626,639
Diluted Earnings per Share $ 0.80 $ 0.31 $ 0.99 $ 0.03
========== ========== ========== ==========
</TABLE>
