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COBANCORP INC. AND SUBSIDIARIES
EXHIBIT (11)--STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
Three Months Ended March 31
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1997 1996
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Primary:
Average shares outstanding 3,453,824 3,447,160
Net effect of dilutive stock options--
based on the treasury stock method
using average market price 35,866 28,900
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Total shares 3,489,690 3,476,060
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Net income $1,286,582 $1,285,488
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Net income per share $ 0.37 $ 0.37
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Fully diluted:
Average shares outstanding 3,453,824 3,447,160
Net effect of dilutive stock options--
based on the treasury stock method
the higher of average market price
or ending market price 42,028 28,900
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Total shares 3,495,852 3,476,060
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Net income $1,286,582 $1,286,582
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Net income per share $ 0.37 $ 0.37
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