EXHIBIT 11

COMPUTATION OF PRIMARY EARNINGS PER SHARE




                                                                  
                              1995                1994              1993

Net income                    $2,286,000          $2,750,000        $3,036,000 
  

Shares:
Weighted average number of 
shares of common stock 
outstanding                   3,744,309           3,406,115         3,265,896  
                
     

Shares assumed issued (less 
shares assumed purchased for 
treasury) on stock options    21,341              34,156            74,442     
             
     

Outstanding shares for 
primary earnings per share 
calculation                   3,765,650           3,440,271         3,340,338  
  

Earnings per 
common share                   $0.61              $0.80             $0.91