EXHIBIT 11
                       COMPUTATIONS OF EARNINGS PER SHARE

                                  (in thousands
                           except earnings per share)
                                   (unaudited)



                                          For the three months               For the six months
                                             ended June 30,                    ended June 30,
                                          1996            1995               1996            1995

Shares used in the computation
of earnings per share:
                                                                               
Weighted daily average
  of shares outstanding                  4,463,891       4,414,639          4,464,909      4,405,528

  Shares used in the computation of
    primary earnings per shares          4,651,031       4,624,785          4,648,761      4,611,545
                                      =============    ============      =============    ===========
  Shares used in the computation of
   fully diluted earnings per share      4,660,819       4,627,564          4,664,660      4,619,674
                                      =============    ============      =============    ===========

Net income used in the computation
 of earnings per common share:

  Net income, as reported              $     1,704     $     1,764       $      3,448     $    3,394
  Adjustment for preferred
   stock dividend                                             (105)                             (210)
                                      -------------    ------------      -------------    -----------

  Net income, as adjusted              $      1,704    $      1,659      $      3,448     $    3,184
                                      =============    ============      =============    ===========

  Primary earnings per share           $       0.37    $       0.36      $       0.74     $     0.69
                                      =============    ============      =============    ===========

  Fully diluted earnings per share     $       0.37    $       0.36      $       0.74     $     0.69
                                      =============    ============      =============    ===========