HOMELAND BANKSHARES CORPORATION EXHIBIT 11
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
THREE MONTHS ENDED
MARCH 31,
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1996 1995
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NET INCOME: $ 3,645,472 $ 3,076,001
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PRIMARY EARNINGS PER SHARE:
Weighted average shares outstanding 5,739,811 5,738,713
Net effect of the assumed exercise of stock
options based on the treasury stock
method using average market price 12,838 ---
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$ 5,752,649 $ 5,738,713
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Primary earnings per share $ .63 $ .54
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FULLY DILUTED EARNINGS PER SHARE:
Weighted average shares outstanding $ 5,739,811 $ 5,738,713
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 14,172 1,595
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$ 5,753,983 $ 5,740,308
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Fully diluted earnings per share $ .63 $ .54
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