EXHIBIT 11
COMPUTATIONS OF EARNINGS PER SHARE
(in thousands
except earnings per share)
unaudited)
For the three months For the six months
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ended june 30, ended june 30,
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1995 1994 1995 1994
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Shares used in the computation
of earnings per share:
Weighted daily average
of shares outstanding 3,531,711 3,443,900 3,524,422 3,448,803
Shares used in the computation of
primary earnings per shares 3,699,828 3,741,637 3,689,236 3,730,944
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Shares used in the computation of
fully diluted earnings per share 3,702,051 3,741,692 3,695,739 3,732,944
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Net income used in the computation
of earnings per common share;
Net income, as reported $ 1,764 $ 1,482 $ 3,394 $ 2,815
Adjustment for preferred
stock dividend (105) (105) (210) (210)
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Net income, as adjusted $ 1,659 $ 1,377 $ 3,184 $ 2,605
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Primary earnings per share $ 0.45 $ 0.37 $ 0.86 $ 0.70
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Fully diluted earnings per share $ 0.45 $ 0.37 $ 0.86 $ 0.70
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