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                                                                      EXHIBIT 11



                            STATEMENT RE COMPUTATION
                             OF PER SHARE EARNINGS





                          THREE MONTHS ENDED JUNE 30,    SIX MONTHS ENDED JUNE 30,
                          ---------------------------    -------------------------
                               1997          1996             1997        1996
                               ----          ----             ----        ----
                                                                 
Net income                 $ 2,176,000    1,471,000        1,688,000   1,974,000
                           ===========    =========        =========   =========


Net income per share: (1)

         Primary           $      0.55         0.38             0.43        0.51
                           ===========    =========        =========   =========
         Fully diluted     $        --         0.36               --        0.49
                           ===========    =========        =========   =========



Weighted average
  shares outstanding: (1)

         Primary             3,921,853    3,872,073        3,921,853   3,859,097
                           ===========    =========        =========   =========
         Fully diluted              --    4,031,202               --   4,018,225
                           ===========    =========        =========   =========



(1)  The Company is showing both primary and fully diluted earnings per share 
     for the second quarter and first half of 1996. These calculations, required
     under generally accepted accounting principles, reflect the effects of in 
     the market prices for the Company's shares in determining the dilution 
     resulting from the assumed exercise of the Company's employee stock 
     options.