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EXHIBIT 11 -- STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
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QUARTER ENDED JUNE 30, SIX MONTHS ENDED JUNE 30,
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2000 1999 2000 1999
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(DOLLARS IN THOUSANDS)
<S> <C> <C> <C> <C>
NET INCOME............................... $ 5,186 $ 3,145 $ 9,117 $ 6,267
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Weighted average shares outstanding:
Basic.................................. 16,710,684 16,074,764 16,597,788 16,073,862
Effect of dilutive stock options
outstanding....................... 208,044 184,525 200,829 180,332
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Diluted................................ 16,918,728 16,259,289 16,798,617 16,254,194
EARNINGS PER SHARE
Basic.................................. $ 0.31 $ 0.20 $ 0.55 $ 0.39
Effect of dilutive stock options
outstanding....................... -- (0.01) (0.01) --
----------- ----------- ----------- -----------
Diluted................................ $ 0.31 $ 0.19 $ 0.54 $ 0.39
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