EXHIBIT 11. STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS

                             B.M.J. Financial Corp.
              Computation of Earnings per Common Share on Primary
                            and Fully Diluted Basis


                                                                               Three Months Ended               Nine Months Ended
(In thousands except for number                                                  September 30,                    September 30,
of shares and per share amounts)                                             1995            1994            1995            1994
                                                                          ----------      ----------      ----------      ----------
                                                                                                                     
Net income for computation of primary
 earnings per share ................................................      $    2,821      $    2,027      $    5,722      $    8,852
                                                                          ==========      ==========      ==========      ==========

Weighted average outstanding common shares
 for computation of primary earnings per share .....................       7,606,412       7,590,261       7,601,773       7,564,397

Additional common stock equivalents ................................         115,951          75,562          98,174          43,282
                                                                          ----------      ----------      ----------      ----------

Adjusted average outstanding shares for
 computation of primary earnings per share .........................       7,722,363       7,665,823       7,699,947       7,607,679
                                                                          ==========      ==========      ==========      ==========

Primary earnings per share .........................................      $     0.37      $     0.26      $     0.74      $     1.16
                                                                          ==========      ==========      ==========      ==========



Net income .........................................................      $    2,821      $    2,027      $    5,722      $    8,852

Adjustment to interest expense for reduction of
 existing debt, net of tax effect ..................................              33              33              99             100
                                                                          ----------      ----------      ----------      ----------

Net income, as adjusted, for computation of
 fully diluted earnings per share ..................................      $    2,854      $    2,060      $    5,821      $    8,952
                                                                          ==========      ==========      ==========      ==========

Weighted average outstanding common shares .........................       7,606,412       7,590,261       7,601,773       7,564,397

Additional shares issued assuming conversion of
 convertible capital notes and exercise of stock options ...........         312,535         307,823         309,441         298,078
                                                                          ----------      ----------      ----------      ----------

Adjusted average outstanding shares for
 computation of fully diluted earnings per share ...................       7,918,947       7,898,084       7,911,214       7,862,475
                                                                          ==========      ==========      ==========      ==========

Fully diluted earnings per share ...................................      $     0.36      $     0.26      $     0.74      $     1.14