Exhibit 11.0

                 Statement Re: Computation of Per Share Earnings


Basic
- -----

Basic earnings per share is determined by dividing net income by the average
number of net outstanding common shares for the period. The net outstanding
common shares equals the gross number of common shares issued less Treasury
Stock repurchased, unallocated shares of the Employee Stock Ownership Plan, and
unallocated shares of stock awards granted under the Company's Stock-Based
Incentive Plan. This number is computed daily and averaged for the period.




                                                                                      For the Year Ended
                                                                                      December 31, 2002
                                                                                ---------------------------

                                                                                       
o    Average number of net common shares outstanding for 2002...................          $5,435,341
o    Net income.................................................................           1,769,288
o    Basic earnings per share...................................................          $      .33





Diluted
- -------

Diluted earnings per share is determined by dividing net income by the average
number of net outstanding common shares computed as if all options granted under
the Bank's Stock-Based Incentive Plan were exercised. The average number of net
outstanding common shares used for the basic computation is increased by the
unallocated shares of stock awards under the Bank's Stock-Based Incentive Plan
and by the additional diluted shares calculated by the Treasury Stock method.






                                                                                   For the Year Ended
                                                                                   December 31, 2002
                                                                                ---------------------------

                                                                                  
o    Average number of net common shares used for basic computation.............     $5,435,341
o    Average unallocated stock awards...........................................        250,676
o     Additional diluted shares:
         600,848 option shares at an exercise price of $16.75,
         and an average market price of $23.42..................................        181,312
o    Total average number of common shares outstanding used for
         calculation of diluted earnings per share..............................      5,867,326
o    Net income.................................................................      1,769,288
o    Diluted earnings per share.................................................     $      .30