EXHIBIT 11
                       COMPUTATIONS OF EARNINGS PER SHARE

                                  (in thousands
                           except earnings per share)
                                   (unaudited)



                                                      For the three months                      For the nine months
                                                      ended September 30,                       ended September 30,
                                                   1996                 1995                  1996               1995

Shares used in the computation of earnings per share:


                                                                                                           
Weighted daily average
  of shares outstanding                             4,498,831            4,445,341            4,476,299          4,419,078

  Shares used in the computation of
    primary earnings per shares                     4,673,451            4,685,485            4,657,051          4,636,191
                                              ================     ================       ==============     ==============
  Shares used in the computation of
   fully diluted earnings per share                 4,713,229            4,721,841            4,680,967          4,695,576
                                              ================     ================       ==============     ==============

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

  Net income, as reported                      $        1,821       $        1,844          $     5,269       $      5,238
  Adjustment for preferred
   stock dividend                                           -                  (35)                   -               (245)
                                              ----------------     ----------------       --------------     --------------

  Net income, as adjusted                      $        1,821       $        1,809          $     5,269       $      4,993
                                              ================     ================       ==============     ==============

  Primary earnings per share                   $          0.39      $          0.39         $       1.13      $        1.08
                                              ================     ================       ==============     ==============

  Fully diluted earnings per share             $          0.39      $          0.38         $       1.13      $        1.06
                                              ================     ================       ==============     ==============