Exhibit 11 - Computation of Earnings per Share
MID-CENTRAL FINANCIAL CORPORATION AND SUBSIDIARY
COMPUTATION OF EARNINGS PER SHARE
(Unaudited)
Three Months Three Months
Ended March 31 Ended March 31,
1996 1995
-------- --------
Computation of Earnings per Share
for Statements of Income:
- - ----------------------------------
Income applicable to common stock $100,661 $ 85,487
-------- --------
Weighted average number of Common and
common equivalent shares outstanding:
Weighted average common
shares outstanding 247,387 260,387
Dilutive effect of stock
options after application of
treasury stock method 5,560 2,046
Total $252,947 $262,433
-------- --------
Net Income per common shares $ 0.40 $ 0.33
-------- --------
Computation of Fully Diluted
Earnings per Share
- - ----------------------------------
Income applicable to common stock $100,661 $ 85,487
-------- --------
Weighted average number of common and
common equivalent shares outstanding:
Weighted average common
shares outstanding 247,387 260,387
Dilutive effect of stock
options after application of
treasury stock method 5,715 3,906
-------- --------
Total 253,102 264,293
-------- --------
Net Income per common share $ 0.40 $ 0.32
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Exhibit 11 - Computation of Earnings per Share
MID-CENTRAL FINANCIAL CORPORATION AND SUBSIDIARY
COMPUTATION OF EARNINGS PER SHARE
(Unaudited)
Six Months Six Months
Ended March 31 Ended March 31,
1996 1995
-------- --------
Computation of Earnings per Share
for Statements of Income:
- - ----------------------------------
Income applicable to common stock $183,953 $132,566
-------- --------
Weighted average number of Common and
common equivalent shares outstanding:
Weighted average common
shares outstanding 247,387 260,387
Dilutive effect of stock
options after application of
treasury stock method 4,858 2,434
Total $252,245 $262,821
-------- --------
Net Income per common shares $ 0.73 $ 0.50
-------- --------
Computation of Fully Diluted
Earnings per Share
- - ----------------------------------
Income applicable to common stock $183,953 $132,566
-------- --------
Weighted average number of common and
common equivalent shares outstanding:
Weighted average common
shares outstanding 247,387 260,387
Dilutive effect of stock
options after application of
treasury stock method 4,935 3,364
-------- --------
Total $252,322 $263,751
-------- --------
Net Income per common share $ 0.73 $ 0.50
-------- --------