Exhibit 11- Statement Re Computation of Earnings Per Share
| Three Months Ended | Nine Months Ended |
| September 30,
| September 30,
|
| 2000
| 1999
| 2000
| 1999
|
| Basic: | | | | |
| Average shares outstanding | 7,111,549
| 7,569,691
| 7,243,711
| 7,648,314
|
| Net income | $3,991,825
| $3,547,182
| $11,534,751
|
$10,219,782
|
| Per share amount | $0.56
| $0.47
| $1.59
| $1.34
|
| Diluted: | | | | |
| Average shares outstanding | 7,111,549 | 7,569,691 | 7,243,711 | 7,648,314
|
Net effect of dilutive stock options -
based on the treasury stock method
using average market price |
216,035
|
155,011
|
174,626
|
149,408
|
| Diluted shares | 7,327,584
| 7,724,702
| 7,418,337
|
7,797,722
|
| Net income | $3,991,825
| $3,547,182
| $11,534,751
|
$10,219,782
|
| Per share amount | $0.54
| $0.46
| $1.55
| $1.31
|
Note: Antidilutive stock options totaling 195,738 and 71,700 shares were not included in the calculation of diluted earnings per share at September 30, 2000 and 1999, respectively.
