EXHIBIT 11.1
                                       MASSBANK CORP.
                                    Earnings Per Share

     The following is a calculation of earnings per share for the three months 
and six months ended June 30, 1996 and 1995.

                                          Three Months Ended          Six Months Ended
Calculation of Primary                         June 30,                   June 30, 
  Earnings Per Share                      1996          1995         1996         1995 
______________________________            ____          ____         ____         ____ 
                                                                    
Average common shares outstanding       2,726,564    2,767,811     2,737,785    2,776,176

Less:  Unallocated Employee Stock Ownership
       Plan (ESOP) shares not committed
       to be released                     (46,200)     (52,800)      (46,200)     (52,800)

Shares assumed to be repurchased
  under treasury stock method
  for stock options                        74,097       74,229        77,359       69,828
                                          _______      _______       _______      _______

Total Shares                            2,754,461    2,789,240     2,768,944    2,793,204   
                                       __________   __________     _________    _________ 

Net Income                             $2,370,000   $2,169,000    $4,593,000   $4,295,000 
                                       __________   __________    __________   __________

Per Share Amount                       $     0.86   $     0.78    $     1.66   $     1.54
                                       __________   __________    __________   __________ 



                                          Three Months Ended          Six Months Ended
Calculation of Fully Diluted                   June 30,                   June 30, 
  Earnings Per Share                      1996          1995         1996         1995 
______________________________            ____          ____         ____         ____  
                                                                      
Average common shares outstanding       2,726,564    2,767,811     2,737,785    2,776,176

Less:  Unallocated Employee Stock Ownership
       Plan (ESOP) shares not committed
       to be released                    (46,200)      (52,800)      (46,200)     (52,800)

Shares assumed to be repurchased
  under treasury stock method
  for stock options                       74,097        78,660        77,873       72,376
                                        ________       _______       _______      _______

Total Shares                            2,754,461    2,793,671     2,769,458    2,795,752
                                        _________    _________     _________    _________

Net Income                             $2,370,000   $2,169,000    $4,593,000   $4,295,000
                                       __________   __________    __________   __________   

Per Share Amount                       $     0.86   $     0.78    $     1.66   $     1.54