Exhibit 11.1
Statement Regarding Calculation of Earnings Per Share
Basic Diluted
EPS number EPS number Net Basic Diluted
of shares of shares Income EPS EPS
----------------------------------------------------------------------
3 months ended September 30, 2001 9,249,804 9,645,722 $ 1,046,443 $0.11 $0.11
3 months ended September 30, 2002 9,444,258 9,588,205 $ 1,334,181 $0.14 $0.14
3 months ended September 30, 2001 Basic Diluted
------------- ----------------
Average Shares Outstanding 9,249,804 9,249,804
Options - Plan 2 153,200
Average Option Price $ 2.64
Total Exercise Cost $ 404,448
Shares Repurchased 32,643
Net Shares from Option - Plan 2 120,557
Options - Plan 3 527,903
Average Option Price $ 6.76
Total Exercise Cost $ 3,563,345
Shares Repurchased 287,598
Net Shares from Option - Plan 3 240,305
Options - Plan 4 425,860
Average Option Price $ 13.03
Total Exercise Cost $ 5,548,956
Shares Repurchased 447,858
Net Shares from Option - Plan 4 -
Options - EFA Non-qualified 85,500
Average Option Price $ 10.19
Total Exercise Cost $ 871,245
Shares Repurchased 70,318
Net Shares from Option - EFA Non-qualified 15,182
Options - CGB Qualified 59,825
Average Option Price $ 10.53
Total Exercise Cost $ 629,957
Shares Repurchased 50,844
Net Shares from Option - CGB Qualified 8,981
Options - CGB Non-Qualified 72,961
Average Option Price $ 10.54
Total Exercise Cost $ 769,009
Shares Repurchased 62,067
Net Shares from Option - CGB Non-Qualified 10,894
------------- --------------
Gross Shares 9,249,804 9,645,722
Price $ 12.39
1
3 months ended September 30, 2002 Basic Diluted
------------ ----------------
Average Shares Outstanding 9,444,258 9,444,258
Options - Plan 2 16,983
Average Option Price $ 5.09
Total Exercise Cost $ 86,443
Shares Repurchased 8,839
Net Shares from Option - Plan 2 8,144
Options - Plan 3 444,410
Average Option Price $ 6.88
Total Exercise Cost $ 3,057,541
Shares Repurchased 312,632
Net Shares from Option - Plan 3 131,778
Options - Plan 4 451,361
Average Option Price $ 12.59
Total Exercise Cost $ 5,682,635
Shares Repurchased 581,047
Net Shares from Option - Plan 4 -
Options - Plan 5 82,044
Average Option Price $ 9.30
Total Exercise Cost $ 762,637
Shares Repurchased 77,979
Net Shares from Option - Plan 5 4,025
Options - EFA Non-qualified 92,226
Average Option Price $ 10.18
Total Exercise Cost $ 938,861
Shares Repurchased 95,998
Net Shares from Option - EFA Non-qualified -
Options - CGB Qualified 33,433
Average Option Price $ 10.45
Total Exercise Cost $ 349,375
Shares Repurchased 35,723
Net Shares from Option - CGB Qualified -
Options - CGB Non-Qualified 15,428
Average Option Price $ 11.67
Total Exercise Cost $ 180,045
Shares Repurchased 18,409
Net Shares from Option - CGB Non-Qualified -
------------ ----------------
Gross Shares 9,444,258 9,588,205
Price $ 9.78
2
Basic Diluted
EPS number EPS number Net Basic Diluted
of shares of shares Income EPS EPS
------------------------------------------------------------------------
9 months ended September 30, 2001 9,182,260 9,613,331 $ 3,341,732 $0.36 $0.35
9 months ended September 30, 2002 9,381,389 9,580,300 $ 3,654,781 $0.39 $0.38
9 months ended September 30, 2001 Basic Diluted
------------- ----------------
Average Shares Outstanding 9,182,260 9,182,260
Options - Plan 2 161,738
Average Option Price $ 2.62
Total Exercise Cost $ 423,754
Shares Repurchased 33,106
Net Shares from Option - Plan 2 128,632
Options - Plan 3 532,278
Average Option Price $ 6.64
Total Exercise Cost $ 3,534,326
Shares Repurchased 276,119
Net Shares from Option - Plan 3 256,159
Options - Plan 4 257,148
Average Option Price $ 13.83
Total Exercise Cost $ 3,556,357
Shares Repurchased 277,840
Net Shares from Option - Plan 4 -
Options - EFA Non-qualified 85,500
Average Option Price $ 10.19
Total Exercise Cost $ 871,245
Shares Repurchased 68,066
Net Shares from Option - EFA Non-qualified 17,434
Options - CGB Qualified 73,801
Average Option Price $ 10.27
Total Exercise Cost $ 757,936
Shares Repurchased 59,214
Net Shares from Option - CGB Qualified 14,587
Options - CGB Non-Qualified 72,388
Average Option Price $ 10.56
Total Exercise Cost $ 785,537
Shares Repurchased 61,370
Net Shares from Option - CGB Non-Qualified 13,018
Stock Appreciation Rights 99,291
Average SAR Price $ 12.64
Total Exercise Cost $ 1,255,038
Shares Repurchased 98,050
Net Shares from SARS 1,241
------------- ----------------
Gross Shares 9,182,260 9,613,331
Price $ 12.80
3
9 months ended September 30, 2002 Basic Diluted
------------ ----------------
Average Shares Outstanding 9,381,389 9,381,389
Options - Plan 2 72,368
Average Option Price $ 2.98
Total Exercise Cost $ 215,657
Shares Repurchased 21,184
Net Shares from Option - Plan 2 51,184
Options - Plan 3 451,080
Average Option Price $ 6.90
Total Exercise Cost $ 3,112,452
Shares Repurchased 305,742
Net Shares from Option - Plan 3 145,338
Options - Plan 4 433,473
Average Option Price $ 12.84
Total Exercise Cost $ 5,565,793
Shares Repurchased 546,738
Net Shares from Option - Plan 4 -
Options - Plan 5 27,635
Average Option Price $ 9.30
Total Exercise Cost $ 257,006
Shares Repurchased 25,246
Net Shares from Option - Plan 5 2,389
Options - EFA Non-qualified 87,766
Average Option Price $ 10.19
Total Exercise Cost $ 894,336
Shares Repurchased 87,852
Net Shares from Option - EFA Non-qualified -
Options - CGB Qualified 43,853
Average Option Price $ 10.65
Total Exercise Cost $ 467,034
Shares Repurchased 45,878
Net Shares from Option - CGB Qualified -
Options - CGB Non-Qualified 34,863
Average Option Price $ 10.99
Total Exercise Cost $ 383,144
Shares Repurchased 37,637
Net Shares from Option - CGB Non-Qualified -
------------ ----------------
Gross Shares 9,381,389 9,580,300
Price $ 10.18
4