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EXHIBIT 11
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
Year Ended December 31,
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(Dollars in thousands except per share amounts.)
1995 1994 1993
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Average common shares outstanding 20,874,336 10,158,346 9,885,375
Stock options-treasury stock method 141,070 28,361 43,634
2-for-1 stock split effected in the form of a
100% stock dividend paid November 20, 1995 - 10,186,707 9,929,009
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Average primary shares outstanding 21,015,406 20,373,414 19,858,018
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Adjusted net income $ 35,504 $ 30,728 $ 32,935
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Per share amount $ 1.69 $ 1.51 $ 1.66
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FULLY DILUTED
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Average common shares outstanding 20,874,336 10,158,346 9,885,375
Stock options-treasury stock method 141,070 36,661 43,634
Convertible subordinated debentures
assumed converted - - 96,675
2-for-1 stock split effected in the form of a
100% stock dividend paid November 20, 1995 - 10,195,007 10,025,684
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Average fully diluted shares outstanding 21,015,406 20,390,014 20,051,368
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Net income $ 35,504 $ 30,728 $ 32,935
Add: Interest on convertible subordinated
debentures, after taxes - - 116
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Adjusted net income $ 35,504 $ 30,728 $ 33,051
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Per share amount $ 1.69 $ 1.51 $ 1.65
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