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Exhibit 11
Statement of Computation of Per Share Earnings
Set forth below are the bases for the computation of earnings per share for the periods shown.
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| Six Months Ended |
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| June 30, |
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| 2006 |
| 2005 |
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Earnings Per Common Share |
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Basic |
| $ | 0.42 |
| $ | 0.35 |
|
Average Shares Outstanding |
| 9,399,628 |
| 9,211,612 |
| ||
Diluted |
| $ | 0.40 |
| $ | 0.33 |
|
Average Shares Outstanding (including dilutive effect of stock options) |
| 9,821,666 |
| 9,768,820 |
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| Three Months Ended |
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| June 30, |
| ||||
|
| 2006 |
| 2005 |
| ||
Earnings Per Common Share |
|
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Basic |
| $ | 0.21 |
| $ | 0.17 |
|
Average Shares Outstanding |
| 9,420,579 |
| 9,220,601 |
| ||
Diluted |
| $ | 0.20 |
| $ | 0.16 |
|
Average Shares Outstanding (including dilutive effect of stock options) |
| 9,847,644 |
| 9,793,337 |
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