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EXHIBIT 11.1
EASTON BANCORP, INC.
COMPUTATION OF EARNINGS PER SHARE
QUARTER ENDED JUNE 30, 2000
Three Months Three Months Six Months Six Months
Ended Ended Ended Ended
June 30, 2000 June 30, 1999 June 30, 2000 June 30, 1999
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<S> <C> <C> <C> <C>
Net income $ 101,633 $ 69,568 $ 202,026 $ 113,996
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Average shares outstanding 560,318 560,318 560,318 560,318
Basic earnings per share $ 0.18 $ 0.12 $ 0.36 $ 0.20
============== ============== ============== ==============
Average shares outstanding 560,318 560,318 560,318 560,318
Dilutive average shares outstanding
under warrants and options 263,800 207,800 263,800 207,800
Exercise price $ 10.00 $ 10.00 $ 10.00 $ 10.00
Assumed proceeds on exercise $ 2,638,000 $ 2,078,000 $ 2,638,000 $ 2,078,000
Average market value $ 10.94 $ 12.25 $ 10.76 $ 12.25
Less: Treasury stock purchased
with assumed proceeds from
exercise of warrants and options 241,133 169,633 245,167 169,633
Adjusted average shares-diluted 582,985 598,485 578,951 598,485
Diluted earnings per share $ 0.17 $ 0.12 $ 0.35 $ 0.19
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<FN>
The stock of the Company is not traded on any public exchange. The average market values are
derived from trades known to management. Private sales may occur where management of the Company
is unaware of the sales price.
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