EXHIBIT 11
Statement Regarding the Computation of Earnings Per Share
For the nine month period For the quarter ending
ending September 30 September 30
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1997 1996 1997 1996
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Weighted average shares outstanding: 5,255,021 5,303,687 5,253,278 5,301,182
Common Stock
Common Stock Equivalents
Stock Options 0 0 0 0
Stock Awards 0 0 0 0
ESOP shares 0 0 0 0
Total Common Stock Equivalents 0 0 0 0
Total weighted average shares
outstanding 5,255,021 5,303,687 5,253,278 5,301,182
Net Income $5,455,000 $5,119,000 $1,832,000 $1,883,000
Net Income Per Share $ 1.04 .97(cent) .35(cent) .36(cent)
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