Exhibit 11
HOMELAND BANKSHARES CORPORATION
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
YEARS ENDED DECEMBER 31, 1995, 1994, AND 1993
1995 1994 1993
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NET INCOME: $13,621,409 $12,260,897 $12,019,640
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PRIMARY EARNINGS PER SHARE:
Weighted average shares
outstanding 5,738,830 5,723,888 5,678,174
Net effect of the assumed exercise
of stock options based on the
treasury stock method using
average market price 6,006 8,245 20,290
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5,744,836 5,732,133 5,698,464
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Primary earnings per share $ 2.37 $ 2.14 $ 2.11
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FULLY DILUTED EARNINGS PER SHARE:
Weighted average shares
outstanding 5,738,830 5,723,888 5,678,174
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 8,763 8,245 23,042
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5,747,593 5,732,133 5,701,216
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Fully diluted earnings per share $ 2.37 $ 2.14 $ 2.11
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