STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
S.Y. Bancorp, Inc. and Subsidiary
For the Three Months For the Nine Months
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Ended September 30 Ended September 30
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1996 1995 1996 1995
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PRIMARY
Average shares
outstanding 3,270,452 3,249,050 3,266,334 3,244,486
Effect of assumed conversion
of stock options under
treasury stock method 99,746 57,026 96,128 56,308
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3,370,198 3,306,076 3,362,462 3,300,794
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Net income $1,460,000 $1,088,000 $3,868,000 $3,092,000
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Per share $ .44 $ .33 $ 1.15 $ .94
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FULLY DILUTED
Average shares
outstanding 3,270,452 3,249,050 3,266,334 3,244,486
Effect of assumed conversion
of stock options under
treasury stock method 114,058 57,924 116,674 59,460
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3,384,510 3,306,974 3,383,008 3,303,946
========= ========= ========= =========
Net income $1,460,000 $1,088,000 $3,868,000 $3,092,000
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Per share $ .43 $ .33 $ 1.15 $ .94
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All share and per share information has been restated to reflect the 2-for-1
stock split which occurred in the third quarter of 1996.