EXHIBIT 11 - Statement Re: Computation of Earnings Per Share
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Three Months Ended Six Months Ended
June 30, June 30,
(In thousands) 1997 1996(1) 1997 1996(1)
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Primary
Average shares outstanding ...... 16,912 17,762 17,036 17,886
Common stock equivalents:
Net effect of the assumed
exercise of stock options and
stock warrants based on
average market price ........ 311 446 346 448
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Primary average shares ............... 17,223 18,208 17,382 18,334
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Net income applicable to common
shares .......................... $ 4,713 $ 4,146 $ 8,669 $ 6,773
Primary net income per share ......... $ .27 $ .23 $ .50 $ .37
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Fully diluted
Average shares outstanding ...... 16,912 17,762 17,036 17,886
Common stock equivalents:
Net effect of the assumed
exercise of stock options and
stock warrants based on end
of period market price ...... 346 446 364 450
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Fully diluted average shares ......... 17,258 18,208 17,400 18,336
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Net income applicable to common
shares .......................... $ 4,713 $ 4,146 $ 8,669 $ 6,773
Fully diluted net income per share ... $ .27 $ .23 $ .50 $ .37
<FN>
(1) Share figures for 1996 have been restated for the 10% stock dividend
issued in December 1996.