EXHIBIT 11.1
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(In thousands except Three Months Ended
per share amounts) March 31, 1997 March 31, 1996
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PRIMARY
Average shares outstanding 12,950 12,821
Net effect of dilutive stock options--
based on the treasury stock method
using average market price 396 472
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TOTAL 13,346 13,293
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Net income $ 2,670 $ 2,899
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Per share amount $ .20 $ .22
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FULLY DILUTED
Average shares outstanding 12,950 12,821
Net effect of dilutive stock options--
based on the treasury stock method
using the quarter-end market price,
if higher than the average market price 396 543
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TOTAL 13,346 13,364
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Net income $2,670 $2,899
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Per share amount $.20 $.22
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