EXHIBIT 11 COMPUTATIONS OF EARNINGS PER SHARE (in thousands except earnings per share) (unaudited) For the three months ended March 31, 1997 1996 Shares used in the computation of earnings per share: Weighted daily average of shares outstanding 4,641,833 4,465,927 Shares used in the computation of primary earnings per shares 4,821,344 4,646,490 ============== ============== Shares used in the computation of fully diluted earnings per share 4,839,246 4,668,500 ============== ============== Net income used in the computation of earnings per common share $ 1,564 $ 1,744 ============== ============== Primary earnings per common share $ 0.32 $ 0.38 ============== ============== Fully diluted earnings per common share $ 0.32 $ 0.37 ============== ==============