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EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE
(Dollars and share amounts in thousands, except per
share data)
(Unaudited)
Three Months Ended Six Months Ended
June 30 June 30
1997 1996 1997 1996
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Net income .......................................... $ 1,415 $ 5,748 $ 8,098 $ 11,205
Preferred stock dividend ............................ - (149) - (298)
Modified treasury stock method adjustment ........... 224 186 379 376
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$ 1,639 $ 5,785 $ 8,477 $ 11,283
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Average common shares outstanding ................... 39,883 36,168 39,745 35,706
Common stock equivalents ............................ 14,388 13,153 16,265 13,180
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Weighted average common shares outstanding .......... 54,271 49,321 56,010 48,886
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Primary and fully diluted earnings per common share.. $ 0.03 $ 0.12 $ 0.15 $ 0.23
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