EXHIBIT 11.1
                                       MASSBANK CORP.
                                    Earnings Per Share

     The following is a calculation of earnings per share for the three and
six months ended June 30, 1999 and 1998.

                                          Three Months Ended          Six Months Ended
Calculation of Basic                           June 30,                   June 30,
  Earnings Per Share                      1999          1998         1999         1998
______________________________            ____          ____         ____         ____
                                                                   
Net Income                              $2,866,000  $2,706,000     $5,779,000  $5,540,000

                                         _________   _________      _________   _________

Average common shares outstanding        3,414,996   3,590,194      3,450,346   3,584,456

Less:  Unallocated Employee Stock Ownership
       Plan (ESOP) shares not committed
       to be released                      (35,200)    (44,000)       (35,200)    (44,000)

                                        __________   _________      __________   ________

Weighted average shares outstanding      3,379,796   3,546,194      3,415,146   3,540,456

                                         _________   _________      _________   _________

Earnings per share (in dollars)          $    0.85   $    0.76      $    1.69   $    1.56
                                         _________   _________      _________   _________




                                          Three Months Ended          Six Months Ended
Calculation of Diluted                         June 30,                   June 30,
  Earnings Per Share                      1999          1998         1999         1998
______________________________            ____          ____         ____         ____
                                                                   
Net Income                              $2,866,000  $2,706,000     $5,779,000  $5,540,000

                                         _________   _________      _________   _________

Average common shares outstanding        3,414,996   3,590,194      3,450,346   3,584,456

Less:  Unallocated Employee Stock Ownership
       Plan (ESOP) shares not committed
       to be released                      (35,200)    (44,000)       (35,200)    (44,000)

Diluted stock options                      115,822     162,507        116,121     162,220
                                         _________   _________      _________     _______

Weighted average shares outstanding      3,495,618   3,708,701      3,531,267   3,702,676
                                         _________   _________     _________    _________

Earnings per share (in dollars)          $    0.82   $    0.73     $     1.64   $    1.50
                                         _________   __________    __________   __________