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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)
THREE MONTHS ENDED SIX MONTHS ENDED
June 30, June 30,
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1996 1995 1996 1995
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(as restated)
Primary:
Average Shares outstanding 5,547 5,357 5,547 5,352
Net effect of dilutive stock options and
warrants - based on the treasury stock
method using average market price 20 107 20 104
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Common and common equivalent shares 5,567 5,464 5,567 5,456
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Net income (loss) $ 890 $ 2,795 $ (760) $ 5,404
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Fully diluted:
Average shares outstanding 5,547 5,357 5,547 5,352
Net effect of dilutive stock options and
warrants - based on the treasury stock
method using average market price 20 111 20 114
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Common and common equivalents 5,567 5,468 5,567 5,466
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Net income (loss) $ 890 $ 2,795 $ (760) $ 5,404
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Per share amount:
Primary: $ .16 $ .51 $ (.14) $ .99
Fully diluted: $ .16 $ .51 $ (.14) $ .99
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