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EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
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Three Months Ended Six Months Ended
June 30, June 30,
(in thousands, except per share data) 1999 1998 1999 1998
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Basic:
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Average shares outstanding 25,584 25,712 25,534 25,633
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Net Income $ 10,990 $ 9,725 $ 21,315 $ 19,030
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Per Share Amount $ 0.43 $ 0.38 $ 0.83 $ 0.74
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Diluted:
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Average shares outstanding 25,584 25,712 25,534 25,633
Net effect of dilutive stock options
based on the treasury stock method
using the average market price or
quarter end price, whichever is
greater 654 1,054 904 1,113
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Total Shares Outstanding 26,238 26,766 26,438 26,746
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Net Income $ 10,990 $ 9,725 $ 21,315 $ 19,030
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Per Share Amount $ 0.42 $ 0.36 $ 0.81 $ 0.71
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