CFX CORPORATION
COMPUTATION OF EQUIVALENT SHARES AND PER SHARE EARNINGS
(In thousands, except per share data)
For the Three Months Ended June 30, 1995 1994
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Fully Fully
Primary Diluted Primary Diluted
Equivalent shares:
Average shares outstanding 6,948,605 6,948,605 6,664,119 6,664,119
Additional shares due to stock options 206,390 251,000 0 0
Total equivalent shares 7,154,995 7,199,605 6,664,119 6,664,119
Earnings per share:
Net income $ 2,010 $ 2,010 $ 1,589 $ 1,589
Less: Preferred stock dividends (22) (22) (68) (68)
Net income available to common stock $ 1,988 $ 1,988 $ 1,521 $ 1,521
Total equivalent shares 7,154,995 7,199,605 6,664,119 6,664,119
Earnings per common share $ .28 $ 0.28 $ .23 $ .23
For the Six Months Ended June 30, 1995 1994
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Fully Fully
Primary Diluted Primary Diluted
Equivalent shares:
Average shares outstanding 6,834,975 6,834,975 6,656,507 6,656,507
Additional shares due to stock options 178,260 252,241 0 0
Total equivalent shares 7,013,235 7,087,216 6,656,507 6,656,507
Earnings per share:
Net income $ 3,566 $ 3,566 $ 2,844 $ 2,844
Less: Preferred stock dividends (89) (89) (135) (135)
Net income available to common stock $ 3,477 $ 3,477 $ 2,709 $ 2,709
Total equivalent shares 7,013,235 7,087,216 6,656,507 6,656,507
Earnings per common share $ .50 $ 0.49 $ .41 $ .41