EXHIBIT 11 STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE Years Ended December 31, ------------------------ 2000 1999 1998 ----------- ----------- ----------- Numerator: Net Income $ 3,249,919 $ 3,043,129 $ 2,602,165 =========== =========== =========== Denominator: Denominator for basic earnings per share -- weighted average common shares outstanding 880,423 897,811 854,430 Effect of dilutive securities: Officer stock option plan - - - ----------- ----------- ----------- Denominator for diluted earnings per share -- weighted average common shares outstanding and assumed conversions 880,423 897,811 854,430 =========== =========== =========== Basic earnings per share $ 3.69 $ 3.39 $ 3.05 =========== =========== =========== Diluted earnings per share $ 3.69 $ 3.39 $ 3.05 =========== =========== =========== 15