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Exhibit 11.1
(1999 10-K)
FIRST NORTHERN CAPITAL CORP.
COMPUTATION OF NET INCOME PER COMMON SHARE
YEAR ENDED DECEMBER 31,
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1999 1998 1997
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BASIC:
Weighted average common shares
outstanding during each period 8,704,183 8,851,486 8,834,937
========= ========= =========
DILUTED:
Weighted average common shares
outstanding during each period 8,704,183 8,851,486 8,834,937
Incremental share relating to:
Dilutive stock options outstanding at
end of each period (1) 176,782 241,167 245,300
---------- ---------- ----------
8,880,965 9,092,653 9,080,237
========= ========= =========
NET INCOME FOR EACH PERIOD $7,377,000 $6,829,000 $6,036,000
NET INCOME PER COMMON
SHARE AMOUNTS:
Basic $0.85 $0.77 $0.68
Diluted $0.83 $0.75 $0.66
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Notes:
(1) Based on treasury stock method using average market price.