. . . Exhibit 11 EARNINGS PER SHARE (Amounts in thousands, except per share data) The factors used in the earnings per share computation follow. Nine Months Ended September 30, 2004 September 30, 2003 Basic Net income $ 1,617 $ 1,357 =============== =============== Weighted average common share outstanding 1,903,553 1,878,309 =============== =============== Basic earnings per common share $ 0.85 $ 0.72 =============== =============== Diluted Net income $ 1,617 $ 1,357 =============== =============== Weighted average common shares outstanding for basic earnings per common share 1,903,553 1,878,309 Add: Dilutive effects of assumed exercises of stock options 50,235 27,800 --------------- --------------- Average share and dilutive potential common share 1,953,788 1,906,109 =============== =============== Diluted earnings per common share $ 0.83 $ 0.71 =============== =============== (Amounts in thousands, except per share data) The factors used in the earnings per share computation follow. Three Months Ended September 30, 2004 September 30, 2003 Basic Net income $ 587 $ 532 =============== =============== Weighted average common share outstanding 1,911,562 1,882,438 =============== =============== Basic earnings per common share $ 0.31 $ 0.28 =============== =============== Diluted Net income $ 587 $ 532 =============== =============== Weighted average common shares outstanding for basic earnings per common share 1,911,562 1,882,438 Add: Dilutive effects of assumed exercises of stock options 50,235 27,800 --------------- --------------- Average share and dilutive potential common share 1,961,797 1,910,238 =============== =============== Diluted earnings per common share $ 0.30 $ 0.28 =============== ===============