Exhibit 11.1
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Statement Regarding Calculation of Earnings Per Share
Basic Diluted
EPS number EPS number Net Basic Diluted
of shares of shares Income EPS EPS
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3 months ended March 31, 2001 9,117,286 9,646,791 $ 1,160,052 $0.13 $0.12
3 months ended March 31, 2002 9,298,749 9,577,312 $ 871,358 $0.09 $0.09
3 months ended March 31, 2001 Basic Diluted
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Average Shares Outstanding 9,117,286 9,117,286
Options - Plan 2 174,667
Average Option Price $ 2.60
Total Exercise Cost $ 454,134
Shares Repurchased 31,320
Net Shares from Option - Plan 2 143,347
Options - Plan 3 568,513
Average Option Price $ 6.56
Total Exercise Cost $ 3,729,445
Shares Repurchased 257,203
Net Shares from Option - Plan 3 311,310
Options - Plan 4 166,692
Average Option Price $ 15.04
Total Exercise Cost $ 2,507,048
Shares Repurchased 172,900
Net Shares from Option - Plan 4 -
Options - EFA Non-qualified 85,500
Average Option Price $ 10.19
Total Exercise Cost $ 871,245
Shares Repurchased 60,086
Net Shares from Option - EFA Non-qualified 25,414
Options - CGB Qualified 95,254
Average Option Price $ 10.12
Total Exercise Cost $ 963,970
Shares Repurchased 66,481
Net Shares from Option - CGB Qualified 28,773
Options - CGB Non-Qualified 76,818
Average Option Price $ 10.60
Total Exercise Cost $ 814,271
Shares Repurchased 56,157
Net Shares from Option - CGB Non-Qualified 20,661
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Gross Shares 9,117,286 9,646,791
Price $ 14.50
1
3 months ended March 31, 2002 Basic Diluted
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Average Shares Outstanding 9,298,749 9,298,749
Options - Plan 2 142,267
Average Option Price $ 2.67
Total Exercise Cost $ 379,853
Shares Repurchased 35,302
Net Shares from Option - Plan 2 106,965
Options - Plan 3 464,511
Average Option Price $ 6.89
Total Exercise Cost $ 3,200,481
Shares Repurchased 297,442
Net Shares from Option - Plan 3 167,069
Options - Plan 4 425,336
Average Option Price $ 13.02
Total Exercise Cost $ 5,537,875
Shares Repurchased 514,672
Net Shares from Option - Plan 4 0
Options - EFA Non-qualified 85,500
Average Option Price $ 10.19
Total Exercise Cost $ 871,245
Shares Repurchased 80,971
Net Shares from Option - EFA Non-qualified 4,529
Options - CGB Qualified 54,102
Average Option Price $ 10.77
Total Exercise Cost $ 582,679
Shares Repurchased 54,152
Net Shares from Option - CGB Qualified 0
Options - CGB Non-Qualified 57,906
Average Option Price $ 10.77
Total Exercise Cost $ 623,648
Shares Repurchased 57,960
Net Shares from Option - CGB Non-Qualified 0
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Gross Shares 9,298,749 9,577,312
Price $ 10.76
2