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EXHIBIT (11)
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Three Months Ended June 30,
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1997 1996
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Primary Diluted Primary Diluted
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Net Income $ 3,579 $ 3,579 $ 3,361 $ 3,361
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Average Shares:
Common 8,247 8,247 7,550 7,550
Common equivalents 289 349 521 599
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Total $ 8,536 $ 8,596 $ 8,071 $ 8,149
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Earnings per common share $ 0.42 $ 0.42 $ 0.42 $ 0.41
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Six Months Ended June 30,
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1997 1996
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Primary Diluted Primary Diluted
------- ------- ------- -------
Net Income $ 6,873 $ 6,873 $ 6,849 $ 6,849
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Average Shares:
Common 8,290 8,290 7,524 7,524
Common equivalents 285 349 518 599
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Total $ 8,575 $ 8,639 $ 8,042 $ 8,123
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Earnings per common share $ 0.80 $ 0.80 $ 0.85 $ 0.84
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Common share equivalents assume exercise of stock options and warrants,
if dilutive.