.
.
.
Exhibit 11
EARNINGS PER SHARE
The factors used in the earnings per share computation follow.
Nine Months Ended
September 30,
-----------------------
2003 2002
Basic
Net income $ 1,357 $ 992
========== ==========
Weighted average common share outstanding 1,878,309 1,917,273
========== ==========
Basic earnings per common share $ 0.72 $ 0.52
========== ==========
Diluted
Net income $ 1,357 $ 992
========== ==========
Weighted average common shares outstanding
for basic earnings per common share 1,878,309 1,917,273
Add: Dilutive effects of assumed exercises
of stock options 27,800 28,099
---------- ----------
Average share and dilutive potential common share 1,906,109 1,945,372
========== ==========
Diluted earnings per common share $ 0.71 $ 0.51
========== ==========
EARNINGS PER SHARE
The factors used in the earnings per share computation follow.
Three Months Ended
September 30,
-----------------------
2003 2002
Basic
Net income $ 532 $ 288
========== ==========
Weighted average common share outstanding 1,882,438 1,942,594
========== ==========
Basic earnings per common share $ 0.28 $ 0.15
========== ==========
Diluted
Net income $ 532 $ 288
========== ==========
Weighted average common shares outstanding
for basic earnings per common share 1,882,438 1,942,594
Add: Dilutive effects of assumed exercises
of stock options 27,800 28,099
---------- ----------
Average share and dilutive potential common share 1,910,238 1,970,693
========== ==========
Diluted earnings per common share $ 0.28 $ 0.15
========== ==========