EXHIBIT 11.01
JSB FINANCIAL, INC. AND SUBSIDIARY
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(Unaudited, In Thousands, except per share amounts)
Year Ended Three Months Ended
December 31, December 31,
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1996 1995 1996 1995
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Primary earnings per share:
Shares used in computing earnings per share:
Weighted average number of shares outstanding: 10,062 10,604 9,776 10,538
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 469 534 464 503
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Common stock and common stock equivalents 10,531 11,138 10,240 11,041
Earnings:
Net Income $26,725 $22,174 $7,287 $5,915
Earnings per common and common equivalent share $2.54 $1.99 $ .71 $ .54
Earnings per share - assuming full dilution:
Shares used in computing earnings per share:
Weighted average number of shares outstanding 10,062 10,604 9,776 10,538
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 505 548 477 504
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Common stock and common stock equivalents 10,567 11,152 10,253 11,042
Earnings:
Net Income $26,725 $22,174 $7,287 $5,915
Earnings per common share assuming full dilution $2.53 $1.99 $ .71 $ .54