<PAGE 1> EXHIBIT 11 Statement Re: Computation Of Per Share Earnings Year Ended December 31, _______________________________ 1996 1995 1994 (in thousands, except per share data) Average shares outstanding 8,658 8,660 8,593 Net effect of dilutive stock options, based on the treasury stock method 25 39 77 _______ ______ _______ Total shares used in computation 8,683 8,699 8,670 ======= ====== ======= Net income $16,498 $14,799 $13,519 ======= ======= ======= Net income per share $ 1.90 $ 1.70 $ 1.56 ======= ======= ========