1 EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Three Months Ended March 31, (in thousands, except per share data) 1998 1997 - --------------------------------------------------------------------------------- Basic: - ----- Average shares outstanding 23,176 22,563 ======== ======== Net Income $ 9,305 $ 7,929 ======== ======== Per Share Amount $ .40 $ .35 ======== ======== Diluted: - ------- Average shares outstanding 23,176 22,563 Net effect of dilutive stock options based on the treasury stock method using the average market price or quarter end price, whichever is greater 1,183 798 -------- -------- Total Shares Outstanding 24,359 23,361 ======== ======== Net Income $ 9,305 $ 7,929 ======== ======== Per Share Amount $ .38 $ .34 -------- --------