EXHIBIT 11. STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
City National Bancshares Corporation
Computation of Earnings Per Common Share on a
Primary & Fully Diluted Basis
In thousands, except per share data
Nine Months Ended Three Months Ended
September 30, September 30,
-----------------------------------------
1996 1995 1996 1995
Net Income ......................... $ 710 $ 740 $ 145 $ 177
Dividends on preferred
stock ............................ 2 -- 2 --
-------- -------- -------- --------
Net income applicable
to primary common
shares ........................... 708 740 143 177
Interest expense on
convertible subordinated
debentures, net of
income tax ....................... 9 9 3 3
-------- -------- -------- --------
Net income applicable to
fully diluted common
shares ........................... $ 717 $ 749 $ 146 $ 180
======== ======== ======== ========
Number of average shares
Primary ............................ 112,855 111,141 114,141 111,141
======== ======== ======== ========
Fully diluted:
Average common shares
outstanding .................... 112,855 111,141 114,141 111,141
Average convertible
subordinated debentures
converted to common shares ..... 13,850 13,850 13,850 13,850
-------- -------- -------- --------
126,705 124,991 127,991 124,991
======== ======== ======== ========
Net income per share
Primary .......................... $ 6.27 $ 6.66 $ 1.25 $ 1.59
Fully diluted .................... 5.66 5.99 1.14 1.44