Exhibit 11.1 — Statement Regarding Computation of Per share Earnings
(Unaudited)
(in thousands, except per share data)
Three Months Ended Three Months Ended December 31, 2002 December 31, 2001 ------------------ ----------------- Basic Average Common Shares outstanding 4,579 4,570 Net income $ 275 $ 247 Per share amount $ .06 $ .05 Diluted Average Common Shares outstanding 4,579 4,570 Net effect of dilutive stock options based on the Treasury stock method using the average market price 58 53 Total 4,637 4,623 Net income $ 275 $ 247 Per share amount $ .06 $ .05