MISSISSIPPI VIEW HOLDING COMPANY
EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
For the Three Months
Ended December 31,
-------------------------
1996 1995
--------- ----------
Net Income ....................................................... $ 173,265 $ 257,608
========= =========
Weighted Average Shares Outstanding .............................. 800,695 894,545
Common stock equivalents due to dilutive effect of stock options . 5,054 432
--------- ---------
Total weighted average common shares and equivalents
outstanding ................................................... 805,749 894,977
========= =========
Primary Earnings Per Share ....................................... $ 0.22 $ 0.29
========= =========
Weighted Average Shares Outstanding .............................. 800,695 894,545
Additional dilutive shares using end of period market value versus
average market value for period when utilizing the treasury
stock method regarding stock options .......................... 5,250 --
--------- ---------
Total weighted average common shares and equivalents
outstanding for fully diluted computation .................... 805,945 894,545
========= =========
Fully diluted earnings per share ................................. $ 0.21 $ 0.29
========= =========
Earnings per share of common stock for the three month periods ended December
31, 1995 and 1996, have been determined by dividing net income for the period by
the weighted average number of shares of common stock outstanding, net of
unearned ESOP shares.