Exhibit 11. Computation of Earnings Per Common Share - -------------------------------------------------------------------------------- (Dollars in Thousands Except Per Share Data and Number of Shares) - -------------------------------------------------------------------------------- Weighted Average Three-Month Periods Ended Number of Shares Net Earnings Per September 30, Outstanding Income Common Share - -------------------------------------------------------------------------------- 2000 10,036,853 $ 7,094 $ 0.71 1999 10,078,294 6,398 0.63 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- (Dollars in Thousands Except Per Share Data and Number of Shares) - -------------------------------------------------------------------------------- Weighted Average Nine-Month Periods Ended Number of Shares Net Earnings Per September 30, Outstanding Income Common Share - -------------------------------------------------------------------------------- 2000 10,051,086 $11,425 $ 1.14 1999 10,083,729 9,903 0.98 - -------------------------------------------------------------------------------- Computation of weighted average number of common and common equivalent shares: - -------------------------------------------------------------------------------- Three-Month Periods Ended September 30, 2000 1999 - -------------------------------------------------------------------------------- Common shares outstanding beginning of the period 10,056,499 10,078,539 Weighted average of the common shares purchased and retired or reissued (19,646) (245) - -------------------------------------------------------------------------------- Weighted average number of common shares 10,036,853 10,078,294 ================================================================================ - -------------------------------------------------------------------------------- Nine-Month Periods Ended September 30, 2000 1999 - -------------------------------------------------------------------------------- Common shares outstanding beginning of the period 10,060,084 10,091,721 Weighted average of the common shares purchased and retired or reissued (8,998) (7,992) - -------------------------------------------------------------------------------- Weighted average number of common shares 10,051,086 10,083,729 ================================================================================ 18