PART 1: EXHIBIT 11.00
JSB FINANCIAL, INC. AND SUBSIDIARY
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(Unaudited, In Thousands, except per share amounts)
Three Months Ended Six Months Ended
June 30, June 30,
1996 1995 1996 1995
Primary earnings per share: Shares used in computing earnings per share:
Weighted average number of shares outstanding 10,273 10,616 10,334 10,631
Assuming exercise of options reduced by the number of shares which could have
been purchased at average stock price with proceeds from exercise
of such options 471 556 477 552
------ ------ ------ ------
Common stock and common stock equivalents 10,744 11,172 10,811 11,183
Earnings:
Net income $ 6,798 $4,391 $12,876 $ 9,998
Earnings per common and common equivalent share $ .63 $0.39 $1.19 $ .89
Earnings per share -- assuming full dilution:
Shares used in computing earnings per share:
Weighted average number of shares outstanding 10,273 10,616 10,334 10,631
Assuming exercise of options reduced by the number of shares which could have
been purchased at period end stock price with proceeds from
exercise of such options 466 542 480 552
------ ------ ------ ------
Common stock and common stock equivalents 10,739 11,158 10,814 11,183
Earnings:
Net income $ 6,798 $ 4,391 $12,876 $ 9,998
Earnings per common share assuming full dilution N/A* N/A* $1.19 $ .89
*Not applicable - result is anti-dilutive