Exhibit (11) - Computation of Earnings Per Share Three Months Ended March 31 1999 1998 ---- ---- Basic: Average shares outstanding 18,144,632 18,179,043 ========== ========== Net earnings applicable to common stock and common stock equivalents $5,729,000 $4,905,000 ========== ========== Basic earnings per share $.32 $.27 ==== ==== Diluted: Average shares outstanding 18,144,632 18,179,043 Net effect of dilutive stock options based on treasury stock method using the average market price 16,579 108,846 ---------- ---------- Average number of common shares and common equivalent shares 18,161,211 18,287,889 ========== ========== Net earnings applicable to common stock and common stock equivalents $5,729,000 $4,905,000 ========== ========== Basic earnings per share $.32 $.27 ==== ====