Exhibit 11 COMPUTATION OF EARNINGS PER SHARE for the Three Months and Nine Months ended September 30, 1997 Three Nine Months Months ------ ------ Primary Average share outstanding 294,685 298,356 Net effect of dilutive stock options-based on the treasury stock method using average market price 7,484 6,835 -------- --------- Total 302,169 305,191 ======== ========= Income before extraordinary item $ 82,901 $ 230,074 Extraordinary item-flood loss 0 (167,329) ======== ========= Net income $ 82,901 $ 62,745 ======== ========= Income per share before extraordinary item $ 0.27 $ 0.75 Loss per share from extraordinary item 0 (0.55) ======== ========= Net income per share $ 0.27 $ 0.20 Fully Diluted Average shares outstanding 294,685 298,356 Net effect of dilutive stock options-based on the treasury stock method using the period-end market price, if higher than average market price 7,484 7,047 -------- --------- Total 302,169 305,403 ======== ========= Income before extraordinary item $ 82,901 $ 230,074 Extraordinary item-flood loss 0 (167,329) ======== ========= Net income $ 82,901 $ 62,745 ======== ========= Income per share before extraordinary item $ 0.27 $ 0.75 Loss per share from extraordinary item 0 (0.55) ======== ========= Net income per share $ 0.27 $ 0.20