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EXHIBIT 11
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Quarter Ended
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December 31, 1996 December 31, 1997
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1. Net income $ 2,273,000 $ 2,314,000
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2. Weighted average common shares outstanding 4,896,238 4,957,272
3. Basic earnings per share $ 0.46 $ 0.47
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4. Weighted average common shares outstanding 4,896,238 4,957,272
5. Common stock equivalents due to dilutive effect of stock options 142,358 204,730
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6. Total weighted average common shares and equivalents outstanding for
diluted earnings per share computation 5,038,596 5,162,002
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7. Diluted earnings per share $ 0.45 $ 0.45
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