MIDLAND CAPITAL HOLDINGS CORPORATION
EXHIBIT 11 - STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
Three Months Ended
September 30,
2002 2001
Net Income $210,717 $164,219
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Weighted average common shares outstanding
for basic computation 363,975 363,975
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Basic earnings per share $ 0.58 $ 0.45
Weighted average common shares outstanding
for basic computation 363,975 363,975
Common stock equivalents due to dilutive effect
of stock options 4,508 4,744
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Weighted average common shares and equivalents
Outstanding for diluted computation 368,483 368,719
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Diluted earnings per share $ 0.57 $ 0.45
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