Exhibit--11.1 
                     Computation of Earnings Per Share Data
 
    The following formulas were used to calculate the earnings per share data
shown in the Consolidated Statements of Income and Retained Earnings for the
quarter ended March 31, 1997 and March 31, 1996 included in this Report.
 

                                  CALCULATION



THREE MONTHS ENDED
- ------------------
                                                                                       
March 31, 1997         Net Income per common share           Net Income          = $1,545,000      = $.26   
                                                      -----------------------      ----------               
                                                      Weighted average shares       5,991,859               
                                                      of Common Stock for                                   
                                                      the period                                            
                                                                                                             
March 31, 1996         Net Income per common share            Net Income                                     
                                                      ------------------------   =   $14,000     = $.00    
                                                      Weighted average shares      ---------               
                                                      of Common Stock for the      6,134,393                
                                                      period                                 

 
    For purposes of calculating earnings per share, there were 5,991,859 and
6,134,393 weighted average shares of common stock outstanding during the three
month periods ending March 31, 1997 and 1996. The effect of the Company's stock
option plans was anti-dilutive for all periods presented.