Exhibit 11.1
Statement Regarding Calculation of Earnings Per Share
Basic Diluted
EPS EPS
number number Net Basic Diluted
of shares of shares Income EPS EPS
------------------------------------------------------
3 months ended June 30, 2001 9,178,233 9,611,136 $1,135,237 $0.12 $0.12
3 months ended June 30, 2002 9,399,560 9,575,650 $1,449,242 $0.15 $0.15
3 months ended June 30, 2001 Basic Diluted
--------- ----------
Average Shares Outstanding 9,178,233 9,178,233
Options - Plan 2 157,585
Average Option Price $ 2.63
Total Exercise Cost $ 414,449
Shares Repurchased 32,867
Net Shares from Option - Plan 2 124,718
Options - Plan 3 560,833
Average Option Price $ 6.60
Total Exercise Cost $3,701,498
Shares Repurchased 293,537
Net Shares from Option - Plan 3 267,296
Options - Plan 4 179,093
Average Option Price $ 14.96
Total Exercise Cost $2,679,231
Shares Repurchased 212,469
Net Shares from Option - Plan 4 --
Options - EFA Non-qualified 85,500
Average Option Price $ 10.19
Total Exercise Cost $ 871,245
Shares Repurchased 69,092
Net Shares from Option - EFA Non-qualified 16,408
Options - CGB Qualified 66,715
Average Option Price $ 10.25
Total Exercise Cost $ 683,829
Shares Repurchased 54,229
Net Shares from Option - CGB Qualified 12,486
Options - CGB Non-Qualified 73,427
Average Option Price $ 10.55
Total Exercise Cost $ 774,655
Shares Repurchased 61,432
Net Shares from Option - CGB Non-Qualified 11,995
--------- ----------
Gross Shares 9,178,233 9,611,136
Price $ 12.61
Exhibit 11.1 (continued)
Statement Regarding Calculation of Earnings Per Share
3 months ended June 30, 2002 Basic Diluted
--------- ---------
Average Shares Outstanding 9,399,560 9,399,560
Options - Plan 2 57,749
Average Option Price $ 3.14
Total Exercise Cost $ 181,332
Shares Repurchased 18,133
Net Shares from Option - Plan 2 39,616
Options - Plan 3 444,540
Average Option Price $ 6.93
Total Exercise Cost $3,080,662
Shares Repurchased 308,066
Net Shares from Option - Plan 3 136,474
Options - Plan 4 423,435
Average Option Price $ 12.93
Total Exercise Cost $5,475,015
Shares Repurchased 547,501
Net Shares from Option - Plan 4 --
Options - EFA Non-qualified 85,500
Average Option Price $ 10.19
Total Exercise Cost $ 871,245
Shares Repurchased 87,125
Net Shares from Option - EFA Non-qualified --
Options - CGB Qualified 44,253
Average Option Price $ 10.71
Total Exercise Cost $ 473,950
Shares Repurchased 47,395
Net Shares from Option - CGB Qualified --
Options - CGB Non-Qualified 32,372
Average Option Price $ 11.04
Total Exercise Cost $ 357,387
Shares Repurchased 35,739
Net Shares from Option - CGB Non-Qualified --
--------- ---------
Gross Shares 9,399,560 9,575,650
Price $ 10.00
Exhibit 11.1 (continued)
Statement Regarding Calculation of Earnings Per Share
Basic Diluted
EPS number EPS number Net Basic Diluted
of shares of shares Income EPS EPS
------------------------------------------------------
6 months ended June 30, 2001 9,147,928 9,630,369 $2,295,289 $0.25 $0.24
6 months ended June 30, 2002 9,349,433 9,576,225 $2,320,600 $0.25 $0.24
6 months ended June 30, 2001 Basic Diluted
--------- ----------
Average Shares Outstanding 9,147,928 9,147,928
Options - Plan 2 166,078
Average Option Price $ 2.61
Total Exercise Cost $ 433,464
Shares Repurchased 31,990
Net Shares from Option - Plan 2 134,088
Options - Plan 3 564,652
Average Option Price $ 6.58
Total Exercise Cost $3,715,410
Shares Repurchased 274,200
Net Shares from Option - Plan 3 290,452
Options - Plan 4 172,927
Average Option Price $ 15.00
Total Exercise Cost $2,593,905
Shares Repurchased 191,432
Net Shares from Option - Plan 4 --
Options - EFA Non-qualified 85,500
Average Option Price $ 10.19
Total Exercise Cost $ 871,245
Shares Repurchased 64,299
Net Shares from Option - EFA Non-qualified 21,201
Options - CGB Qualified 80,905
Average Option Price $ 10.17
Total Exercise Cost $ 822,804
Shares Repurchased 60,724
Net Shares from Option - CGB Qualified 20,181
Options - CGB Non-Qualified 75,113
Average Option Price $ 10.57
Total Exercise Cost $ 793,944
Shares Repurchased 58,594
Net Shares from Option - CGB Non-Qualified 16,519
--------- ----------
Gross Shares 9,147,928 9,630,369
Price $ 13.55
Exhibit 11.1 (continued)
Statement Regarding Calculation of Earnings Per Share
6 months ended June 30, 2002 Basic Diluted
--------- ---------
Average Shares Outstanding 9,349,433 9,349,433
Options - Plan 2 99,775
Average Option Price $ 2.80
Total Exercise Cost $ 279,370
Shares Repurchased 26,914
Net Shares from Option - Plan 2 72,861
Options - Plan 3 454,470
Average Option Price $ 6.90
Total Exercise Cost $3,135,843
Shares Repurchased 302,104
Net Shares from Option - Plan 3 152,366
Options - Plan 4 424,380
Average Option Price $ 12.98
Total Exercise Cost $5,508,452
Shares Repurchased 530,679
Net Shares from Option - Plan 4 --
Options - EFA Non-qualified 85,500
Average Option Price $ 10.19
Total Exercise Cost $ 871,245
Shares Repurchased 83,935
Net Shares from Option - EFA Non-qualified 1,565
Options - CGB Qualified 49,150
Average Option Price $ 10.71
Total Exercise Cost $ 526,397
Shares Repurchased 50,713
Net Shares from Option - CGB Qualified --
Options - CGB Non-Qualified 45,069
Average Option Price $ 10.86
Total Exercise Cost $ 489,449
Shares Repurchased 47,153
Net Shares from Option - CGB Non-Qualified --
--------- ---------
Gross Shares 9,349,433 9,576,225
Price $ 10.38