EXHIBIT 11 - Statement Re: Computation of Earnings Per Share
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Three Months Ended Nine Months Ended
September 30, September 30,
(In thousands) 1996 1995(1) 1996 1995(1)
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Primary
Average shares outstanding ...... 15,800 16,468 16,104 16,484
Common stock equivalents:
Net effect of the assumed
exercise of stock options and
stock warrants based on
average market price ........ 399 498 406 489
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Primary average shares .............. 16,199 16,966 16,510 16,973
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Net income applicable to common
shares .......................... $ 3,754 $ 4,114 $10,527 $12,244
Primary net income per share ........ $ .23 $ .24 $ .64 $ .72
Fully diluted
Average shares outstanding ...... 15,800 16,468 16,104 16,484
Common stock equivalents:
Net effect of the assumed
exercise of stock options and
stock warrants based on end
of period market price ...... 420 533 414 506
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Fully diluted average shares ........ 16,220 17,001 16,518 16,990
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Net income applicable to common
shares .......................... $ 3,754 $ 4,114 $10,527 $12,244
Fully diluted net income per share .. $ .23 $ .24 $ .64 $ .72
<FN>
(1) Share figures for 1995 have been restated for the 10% stock dividend issued in December 1995.
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