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EXHIBIT 11.1
MIDLAND FINANCIAL GROUP, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(In thousands except per share amounts)
March 31
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1996 1995
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Primary:
Average Shares outstanding 5,547 5,347
Net effect of dilutive stock options and
warrants - based on the treasury stock
method using average market price 20 97
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Common and common equivalent shares 5,567 5,444
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Net income $ 528 $2,609
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Fully diluted:
Average shares outstanding 5,547 5,347
Net effect of dilutive stock options and
warrants - based on the treasury stock
method using average market price 20 115
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Common and common equivalents 5,567 5,462
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Net income $ 528 $2,609
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Per share amount:
Primary: $ .10 $ .48
Fully diluted: $ .10 $ .48
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