EXHIBIT 11.  STATEMENT ON COMPUTATION OF PER SHARE EARNINGS.

         For the three months ended March 31, 1996 and 1995, the primary and
fully dilutive weighted average number of shares outstanding were 3,843,710 and
3,830,478, respectively. The number of shares outstanding at March 31, 1995 were
restated to reflect the conversion ratio of 1.0841375 shares of the Company's
common stock per share of the Bank's common stock effected as part of the
Reorganization.