EXHIBIT 11
Statement re: Computation of Per Share Earnings
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EXHIBIT 11
EAST TEXAS FINANCIAL SERVICES, INC.
Statement re: Computation of Per Share Earnings
Fiscal Year Ended September 30, 2000
Total Shares Unallocated Total Shares
Outstanding ESOP Shares For EPS Calculation
September 30, 1999 1,294,420 66,310 1,228,110
October 31, 1999 1,294,420 66,310 1,228,110
November 30, 1999 1,162,320 66,310 1,096,010
December 31, 1999 1,162,320 66,310 1,096,010
January 31, 2000 1,162,320 66,310 1,096,010
February 28, 2000 1,162,620 66,310 1,096,010
March 31, 2000 1,162,320 66,310 1,096,010
April 30, 2000 1,162,320 66,310 1,096,010
May 31, 2000 1,162,320 66,310 1,096,010
June 30, 2000 1,162,320 66,310 1,096,010
July 31, 2000 1,162,320 66,310 1,096,010
August 31, 2000 1,162,320 66,310 1,096,010
September 30, 2000 1,162,320 51,904 1,110,416
Weighted average number of shares outstanding
for the year ended September 30, 2000, for earnings
per share calculation 1,117,441
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Stock options outstanding at September 30, 2000: 151,776
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Exercise price of stock options: $9.42 per share
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Average stock price for the 12 month period ended
September 30, 2000 $9.94
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12 Months Ended
Basic Earnings Per Share September 30,
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2000 1999
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Income available to common stockholders $ 295,787 $ 297,990
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Weighted average number of common shares
outstanding for basic EPS calculation 1,117,441 1,324,359
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Basic Earnings Per Share $ .26 $ .23
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Diluted Earnings Per Share
Income available to common stockholders $ 295,787 $ 297,990
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Weighted average number of common shares
outstanding for basic EPS calculation 1,117,441 1,324,359
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Weighted average common shares issued under
stock options plans 148,401 148,451
Less weighted average shares assumed
repurchased with proceeds (140,638) (118,912)
Weighted average number of common shares
outstanding for diluted EPS calculation 1,125,205 1,353,898
Basic Earnings Per Share $ .26 $ .22
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