Exhibit No. 11    Statement re Computation of Earnings Per Share



                                                                  Year Ended             Year Ended             Year Ended     
                                                               December 31, 1997      December 31, 1996      December 31, 1995
                                                               -----------------      -----------------      ----------------- 
                                                                                                                   
Net Income .................................................      $  823,000             $1,334,000             $1,741,000     
                                                                  ==========             ==========             ==========     
                                                                                                                               
Weighted average shares outstanding ........................         482,893                313,256                295,978     
                                                                                                                               
Basic earnings per share ...................................      $     1.70             $     4.26             $     5.88     
                                                                  ==========             ==========             ==========     
                                                                                                                               
Total weighted average common shares                                                                                           
   outstanding .............................................         482,893                313,256                295,978     
                                                                                                                               
Additional dilutive shares .................................          43,798                 57,523                 55,186     
                                                                  ----------             ----------             ----------     
                                                                                                                               
Total weighted average common shares                                                                                           
     and equivalents outstanding for                                                                                           
     diluted computation ...................................         526,691                370,779                351,164     
                                                                  ==========             ==========             ==========     
                                                                                                                               
Diluted earnings per share .................................      $     1.56             $     3.60             $     4.96     
                                                                  ==========             ==========             ==========