EXHIBIT 11
Statement Regarding the Computation of Earnings Per Share
For the three month period
ending March 31
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1999 1998
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Weighted average shares outstanding: 5,804,648 5,815,246
Common Stock
Common Stock Equivalents
Stock Options 0 0
Stock Awards 0 0
ESOP Shares 0 0
Total Common Stock Equivalents 0 0
Total weighted average shares outstanding 5,804,648 5,815,246
Net Income $1,904,000 $1,907,000
Net Income Per Share .33(cent) .33(cent)
Fully Diluted Income Per Share .33(cent) .33(cent)
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