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EXHIBIT (11)
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Three Months Ended September 30,
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(In thousands, except per share)
1997 1996
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Primary Diluted Primary Diluted
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Net Income $ 3,722 $ 3,722 $ (1,085) $ (1,085)
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Average Shares:
Common 8,211 8,211 7,576 7,576
Common equivalents 284 364 543 627
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Total $ 8,495 $ 8,575 $ 8,119 $ 8,203
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Earnings per common share $ 0.44 $ 0.43 $ (0.13) $ (0.13)
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Nine Months Ended September 30,
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(In thousands except per share)
1997 1996
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Primary Diluted Primary Diluted
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Net Income $ 10,595 $10,595 $ 5,764 $ 5,764
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Average Shares:
Common 8,268 8,268 7,540 7,540
Common equivalents 265 364 518 627
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Total $ 8,533 $ 8,632 $ 8,058 $ 8,167
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Earnings per common share $ 1.24 $ 1.23 $ 0.72 $ 0.71
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Common share equivalents assume exercise of stock options and warrants, if
dilutive.