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EXHIBIT 11.0
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Year Ended
December 31, (1) (2)
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(in thousands, except per share amount)
1997 1996
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Net income $23,264 $20,939
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Weighted average common shares
outstanding 13,636 15,477
Earnings per common share $ 1.71 $ 1.35
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Total weighted average common shares outstanding 13,636 15,477
Additional dilutive shares using ending
period market value versus average market
value for the period when utilizing the
Treasury stock method regarding stock
options 913 834
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Total shares for fully diluted earnings
per share 14,549 16,311
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Fully diluted earnings per common share and
common share equivalents $ 1.60 $ 1.28
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1) Reflects shares issued as a result of two 3-for-2 stock splits on both
April 10, 1997 and October 1, 1997.
2) Reflects the adoption of Statement of Financial Accounting Standards No.
128, "Earnings Per Share."