HOMELAND BANKSHARES CORPORATION EXHIBIT 11
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1995 1994 1995 1994
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NET INCOME: $ 3,233,904 $ 2,909,475 $ 6,309,905 $ 5,899,175
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PRIMARY EARNINGS PER SHARE:
Weighted average shares outstanding 5,738,713 5,738,713 5,738,713 5,709,063
Net effect of the assumed exercise of stock
options based on the treasury stock
method using average market price 398 3,951 199 13,552
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5,739,111 5,742,664 5,738,912 5,722,615
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Primary earnings per share $ .56 $ .51 $ 1.10 $ 1.03
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FULLY DILUTED EARNINGS PER SHARE:
Weighted average shares outstanding 5,738,713 5,738,713 5,738,713 5,709,063
Net effect of the assumed exercise of stock
options based on the treasury stock
method using average market price or
market price at the end of the period,
whichever is higher 2,330 3,951 1,963 13,552
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5,741,043 5,742,664 5,740,676 5,722,615
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Fully diluted earnings per share $ .56 $ .51 $ 1.10 $ 1.03
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