EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
Three Months Three Months
Ended Ended
March 31, 2000 March 31, 1999
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Net Income (Loss) $ 174,045 153,232
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Weighted average shares outstanding
for basic EPS computation 665,580 869,829
Reduction for common shares not yet
released by Employee Stock Ownership Plan (53,958) (62,951)
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Total weighted average common shares
outstanding for basic computation 611,622 806,878
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Basic earnings per share $0.28 $0.19
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Total weighted average common shares
outstanding for basic computation 611,622 806,878
Common stock equivalents due to
dilutive effect of stock options 4,917 0
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Total weighted average common shares and
equivalents outstanding for diluted
computation 616,539 806,878
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Diluted earnings per share $0.28 $0.19
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