COMPUTATIONS OF EARNINGS PER SHARE
Three Months Ended
March 31, 1999
Less
Total Shares Unallocated Shares Used For
Outstanding ESOP Shares EPS Calculation
----------- ----------- ---------------
December 31, 1998 1,464,056 81,536 1,382,520
January 31, 1999 1,464,056 81,536 1,382,520
February 28, 1999 1,392,853 81,536 1,311,317
March 31, 1999 1,392,853 81,536 1,311,317
Weighted average number of shares outstanding for
the quarter ended March 31, 1999, for earnings
per share calculation 1,335,051
Stock options outstanding at March 31, 1999: 148,843
---------
Exercise price of stock options: $9.42 per share
---------------
Average stock price for three month period:
ended March 31, 1999 $10.326
Three Months Ended
March 31,
----------------------------
Basic Earnings Per Share 1999 1998
- ------------------------ ----------- -----------
Income available to common stockholders ...... $ 57,379 $ 157,795
=========== ===========
Weighted average number of common shares
outstanding for basic EPS calculation .... 1,335,051 1,441,868
=========== ===========
Basic Earnings Per Share ............ $ .04 $ .11
=========== ===========
Diluted Earnings Per Share
Income available to common stockholders ...... $ 57,379 $ 157,795
=========== ===========
Weighted average number of common shares
outstanding for basic EPS calculation .... 1,335,051 1,441,868
Weighted average common shares issued
under stock option plans ................. 148,843 150,411
Less weighted average shares assumed
repurchased with proceeds ................ (135,784) (96,242)
----------- -----------
Weighted average number of common shares
outstanding for diluted EPS calculation .. 1,348,110 1,496,037
=========== ===========
Diluted Earnings Per Share .......... $ .04 $ .11
=========== ===========
COMPUTATIONS OF EARNINGS PER SHARE
Six Months Ended
March 31, 1999
Less
Total Shares Unallocated Shares Used For
Outstanding ESOP Shares EPS Calculation
----------- ----------- ---------------
September 30, 1998 1,464,056 81,536 1,382,520
October 31, 1998 1,464,056 81,536 1,382,520
November 30, 1998 1,464,056 81,536 1,382,520
December 31, 1998 1,464,056 81,536 1,382,520
January 31, 1999 1,464,056 81,536 1,382,520
February 28, 1999 1,392,853 81,536 1,311,317
March 31, 1999 1,392,853 81,536 1,311,317
Weighted average number of shares outstanding for
the quarter ended March 31, 1999, for earnings
per share calculation 1,362,176
Stock options outstanding at March 31, 1999: 148,843
-------
Exercise price of stock options: $9.42 per share
---------------
Average stock price for three month period:
ended March 31, 1999 $10.287
Six Months Ended
March 31,
----------------------------
Basic Earnings Per Share 1999 1998
- ------------------------ ----------- -----------
Income available to common stockholders ...... $ 233,150 $ 302,099
=========== ===========
Weighted average number of common shares
outstanding for basic EPS calculation .... 1,362,176 1,441,868
=========== ===========
Basic Earnings Per Share ............ $ .17 $ .21
=========== ===========
Diluted Earnings Per Share
Income available to common stockholders ...... $ 233,150 $ 302,099
=========== ===========
Weighted average number of common shares
outstanding for basic EPS calculation .... 1,362,176 1,441,868
Weighted average common shares issued
under stock option plans ................. 148,843 150,411
Less weighted average shares assumed
repurchased with proceeds ................ (136,298) (98,881)
----------- -----------
Weighted average number of common shares
outstanding for diluted EPS calculation .. 1,374,721 1,493,398
=========== ===========
Diluted Earnings Per Share ................... $ .17 $ .20
=========== ===========