PART 1: EXHIBIT 11.00
JSB FINANCIAL, INC. AND SUBSIDIARY
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(In Thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
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1997 1996 1997 1996
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Primary earnings per share
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Shares used in computing earnings per share:
Weighted average number of shares outstanding 9,871 9,810 9,840 10,158
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 475 454 473 469
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Common stock and common stock equivalents 10,346 10,264 10,313 10,627
Earnings:
Net income $8,554 $6,562 $22,111 $19,438
Earnings per common and common equivalent share $ .83 $ .64 $2.14 $1.83
Earnings per share -- assuming full dilution:
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Shares used in computing earnings per share:
Weighted average number of shares outstanding 9,871 9,810 9,840 10,158
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 503 476 527 499
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Common stock and common stock equivalents 10,374 10,286 10,367 10,657
Earnings:
Net income $8,554 $6,562 $22,111 $19,438
Earnings per common share assuming full dilution $ .82 $ .64 $2.13 $1.82