EXHIBIT 11 - Statement Re: Computation of Earnings Per Share
Three Months Ended Nine Months Ended
September 30, September 30,
(In thousands) 1997 1996(1) 1997 1996(1)
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Primary
Average shares outstanding ...... 16,912 17,380 16,993 17,714
Common stock equivalents:
Net effect of the assumed
exercise of stock options and
stock warrants based on
average market price ........ 339 439 345 447
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Primary average shares .............. 17,251 17,819 17,338 18,161
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Net income applicable to common
shares .......................... $ 5,375 $ 3,754 $14,043 $10,527
Primary net income per share ........ $ .31 $ .21 $ .81 $ .58
Fully diluted
Average shares outstanding ...... 16,912 17,380 16,993 17,714
Common stock equivalents:
Net effect of the assumed
exercise of stock options and
stock warrants based on end
of period market price ...... 363 462 364 456
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Fully diluted average shares ........ 17,275 17,842 17,357 18,170
======= ======= ======= =======
Net income applicable to common
shares .......................... $ 5,375 $ 3,754 $14,043 $10,527
Fully diluted net income per share .. $ .31 $ .21 $ .81 $ .58
<FN>
(1) Share figures for 1996 have been restated for the 10% stock dividend
issued in December 1996.
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