EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
Three Months Six Months
Ended Ended
June 30, 1998 June 30, 1998
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Net Income ................................ $ 94,576 319,215
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Weighted average shares outstanding
for basic EPS computation ............... 931,495 947,558
Reduction for common shares not yet
released by Employee Stock Ownership Plan (69,696) (71,944)
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Total weighted average common shares
outstanding for basic computation ...... 861,799 875,614
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Basic earnings per share .................. $ 0.11 $ 0.36
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Total weighted average common shares
outstanding for basic computation ....... 861,799 875,614
Common stock equivalents due to
dilutive effect of stock options ........ 29,896 27,700
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Total weighted average common shares and
equivalents outstanding for diluted
computation ............................. 891,695 903,314
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Diluted earnings per share ................ $ 0.11 $ 0.35
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