EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
Three Months Three Months
Ended Ended
June 30, 2000 June 30, 1999
Net Income $ 144,586 247,838
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Weighted average shares outstanding
for basic EPS computation 965,084 1,206,115
Reduction for common shares not yet
released by Employee Stock Ownership Plan (77,565) (91,054)
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Total weighted average common shares
outstanding for basic computation 887,519 1,115,061
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Basic earnings per share $ 0.16 $ 0.22
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Total weighted average common shares
outstanding for basic computation 887,519 1,115,061
Common stock equivalents due to
dilutive effect of stock options 8,384 0
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Total weighted average common shares and
equivalents outstanding for diluted
computation 895,903 1,115,061
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Diluted earnings per share $ 0.16 $ 0.22
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Six Months Six Months
Ended Ended
June 30, 2000 June 30, 1999
Net Income $ 318,631 401,070
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Weighted average shares outstanding
for basic EPS computation 981,717 1,255,158
Reduction for common shares not yet
released by Employee Stock Ownership Plan (80,937) (94,426)
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Total weighted average common shares
outstanding for basic computation 900,780 1,160,732
========== ==========
Basic earnings per share $ 0.35 $ 0.35
========== ==========
Total weighted average common shares
outstanding for basic computation 900,780 1,160,732
Common stock equivalents due to
dilutive effect of stock options 7,879 0
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Total weighted average common shares and
equivalents outstanding for diluted
computation 908,659 1,160,732
========== ==========
Diluted earnings per share $ 0.35 $ 0.35
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