Exhibit 11.1 - Statement Regarding Computation of Per share Earnings
(Unaudited)
(in thousands except per share data)
Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended June 30, 2002 June 30, 2001 June 30, 2002 June 30, 2001 -------------- -------------- -------------- ------------- Basic Average Common Shares outstanding 4,578 4,564 4,575 4,563 Net income $ 281 $ 515 $ 1,047 $ 1,292 Per share amount $ .06 $ .11 $ .23 $ .28 Diluted Average Common Shares outstanding 4,578 4,564 4,575 4,563 Net effect of dilutive stock options based on the Treasury stock method using the average market price 37 37 45 26 Total 4,615 4,601 4,620 4,589 Net income $ 281 $ 515 $ 1,047 $ 1,292 Per share amount $ .06 $ .11 $ .23 $ .28