EXHIBIT 11

			 COMPUTATION OF PER SHARE EARNINGS

			For the Years Ended December 31
																					
												 1995                                           1994
                                                                                                   
								                        	Primary Earnings           Fully              Primary Earnings              Fully
									                        Per Share(2)              Diluted              Per Share(1)                Diluted
											                                           					Earnings                                         Earnings
                							   as Reported     as Adjusted      Per Share      as Reported     as Adjusted      Per Share
																					
Computation of earnings         
  per common share:

Shares
  Weighted average
	shares outstanding          1,921,476       1,921,476       1,921,476       1,961,419       1,961,419       1,961,419

  Equivalent shares from
	exercise of dilutive
	stock equivalents               ---            25,778          30,150           ---            31,882          30,808
 														
	                      							1,921,476       1,947,254       1,951,626       1,961,419       1,993,301       1,992,227
																					

Net Income                    $4,179,000      $4,179,000      $4,179,000      $3,760,000      $3,760,000      $3,760,000
														

Earnings per common share
		
Net Income                          $2.17           $2.15          $2.14            $1.92           $1.89           $1.89 
																			


(1) Primary earnings per share "as reported" exclude the effect of the options issued under the Incentive Stock Option Plan, 
	the Employee Stock Purchase Plan, and the restricted stock issued under the Long-Term Incentive Plan of 1990, as the effect
	of the equivalent shares on the earnings per share calculation is less than 3%.  Primary earnings per share "as adjusted" 
	include the effect of the options and restricted stock.                                      

(2) Primary earnings per share "as reported" exclude the effect of the options issued under the Employee Stock Purchase Plan 
	and the restricted stock issued under the Long-Term Incentive Plan of 1990, as the effect of the equivalent shares on the 
	earnings per share calculation is less than 3%.  Primary earnings per share "as adjusted" include the effect of the options 
	and restricted stock.                        








				EXHIBIT 11

		 COMPUTATION OF PER SHARE EARNINGS

			For the Year Ended December 31, 1993                                                                     
											 
                                                                               
								                    Primary Earnings              Fully
								                      Per Share(1)                Diluted
															                                           Earnings
                 							 as Reported     as Adjusted      Per Share
																	   
Computation of earnings
  per common share:

Shares
  Weighted average
	shares outstanding          1,933,928       1,933,928       1,933,928

  Equivalent shares from
	exercise of dilutive
	stock equivalents              ---             25,813         31,750
														
                       							1,933,928       1,959,741       1,965,678
																		   

Net Income                     $3,322,000      $3,322,000      $3,322,000
														

Earnings per common share
		
Net Income                          $1.71          $1.70           $1.69
														


(1) Primary earnings per share "as reported" exclude the effect of the options issued under the Incentive Stock Option Plan, 
	the Employee Stock Purchase Plan, and the restricted stock issued under the Long-Term Incentive Plan of 1990, as the effect
	of the equivalent shares on the earnings per share calculation is less than 3%.  Primary earnings per share "as adjusted" 
	include the effect of the options and restricted stock.                                      

(2) Primary earnings per share "as reported" exclude the effect of the options issued under the Employee Stock Purchase Plan 
	and the restricted stock issued under the Long-Term Incentive Plan of 1990, as the effect of the equivalent shares on the 
	earnings per share calculation is less than 3%.  Primary earnings per share "as adjusted" include the effect of the options
	and restricted stock.