EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
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THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Basic income per common share:
Net Income $ 727,678 $ 679,325 $1,696,984 $1,993,672
Weighted average common shares outstanding 2,714,519 2,761,148 2,714,084 2,846,312
Basic income per common share $ 0.27 $ 0.25 $ 0.63 $ 0.70
Diluted income per common share:
Net Income $ 727,678 $ 679,325 $1,696,984 $1,993,672
Weighted average common shares outstanding 2,714,519 2,761,148 2,714,084 2,846,312
Dilutive effect of stock options 86,045 151,517 93,359 155,709
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Total shares 2,800,564 2,912,665 2,807,443 3,002,021
Diluted income per common share $ 0.26 $ 0.23 $ 0.60 $ 0.66
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