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Previous: EASTON BANCORP INC/MD, 10QSB, 2000-11-09 |
Next: EASTON BANCORP INC/MD, 10QSB, EX-27.1, 2000-11-09 |
<TABLE>
<CAPTION>
EXHIBIT 11.1
EASTON BANCORP, INC.
COMPUTATION OF EARNINGS PER SHARE
QUARTER ENDED SEPTEMBER 30, 2000
Three Months Nine Months
Ended Ended
September 30, 2000 September 30, 2000
------------------- -------------------
<S> <C> <C>
Net income $ 136,029 $ 338,055
=================== ===================
Average shares outstanding 560,318 560,318
Basic earnings per share $ 0.24 $ 0.60
=================== ===================
Average shares outstanding 560,318 560,318
Dilutive average shares outstanding under
warrants and options 263,800 263,800
Exercise price $ 10.00 $ 10.00
Assumed proceeds on exercise $ 2,638,000 $ 2,638,000
Average market value $ 10.50 $ 10.68
Less: Treasury stock purchased with assumed
proceeds from exercise of warrants
and options 251,238 247,004
Adjusted average shares-diluted 572,880 577,114
Diluted earnings per share $ 0.24 $ 0.59
=================== ===================
</TABLE>
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.
<PAGE>
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