EXHIBIT 11.1 STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE Three Months ended March 31, 1996 Weighted Average Shares Outstanding 4,716,651 Dilutive Options (1) 161,346 --------- 4,877,997 --------- Three Months ended March 31, 1995 Weighted Average Shares Outstanding 4,675,530 Dilutive Options (1) 31,661 --------- 4,707,191 --------- (1) Includes dilutive options calculated using the treasury stock method.