EXHIBIT 11
First Savings Bank, F.S.B.
Statement re computation of per share earnings
Three Months Ended Nine Months Ended
September 30, 1996 September 30, 1996
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PRIMARY EARNINGS PER SHARE
Net income $ 304,068 $ 371,648
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Shares:
Weighted average number of shares outstanding 695,698 695,698
Add-Dilutive effect of outstanding options (as
determined by the application of the treasury
stock method) 225 --
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Weighted average number of shares outstanding,
as adjusted 695,923 695,698
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Net income per shares: Primary $ 0.436928(a) $ 0.534209(a)
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ASSUMING FULL DILUTION
Net income $ 304,068 $ 371,648
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Shares:
Weighted average number of shares outstanding 695,698 695,698
Add-Dilutive effect of outstanding options (as
determined by the application of the treasury
stock method) 659 --
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Weighted average number of shares outstanding,
as adjusted 696,357 695,698
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Net income per share: Assuming full dilution $ 0.436655(a) $ 0.534209(a)
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(a) This calculation is submitted in accordance with Regulation S-K Item
601(b)(11) although not required by footnote 2 to paragraph 14 of APB
Opinion No. 15 because it results in dilution of less than 3%.