Statement Regarding Computation of Per share Earnings
(Unaudited)
(in thousands except per share data)
Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended
June 30, 1998 June 30, 1999 June 30, 1998 June 30, 1999
------------------ ------------------- ---------------- ----------------
Basic
Average Common Shares outstanding 4,470 4,508 3,990 4,503
Net income $ 130 $ 67 $ 557 $ 261
Per Share Amount $ .03 $ .01 $ .14 $ .06
Diluted
Average Common Shares outstanding 4,470 4,508 3,990 4,503
Net effect of dilutive
stock options based
on the treasury stock
method using the average
market price 168 186 182 170
Assumed conversion of
Preferred Shares --- --- 153 ---
Total 4,638 4,694 4,325 4,673
Net income $ 130 $ 67 $ 557 $ 261
Per share amount $ .03 $ .01 $ .13 $ .06