Exhibit No. 11
FIRST CITIZENS FINANCIAL CORPORATION AND SUBSIDIARY
UNAUDITED COMPUTATION OF PRIMARY AND FULLY
DILUTED EARNINGS PER SHARE
(In thousands, except per share data)
Three Months Ended Six Months Ended
June 30, June 30,
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1996 1995(a) 1996 1995(a)
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PRIMARY:
Net income.................................................................. $1,149 $ 954 $2,227 $1,901
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Shares:
Weighted average number of common shares outstanding........................ 2,915 2,863 2,909 2,859
Dilutive effect of exercise of stock options................................ 286 288 274 273
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Weighted average number of common shares outstanding,
as adjusted................................................................ 3,201 3,151 3,183 3,132
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Earnings per share.......................................................... $ .36 $ .30 $ .70 $ .61
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ASSUMING FULL DILUTION:
Shares:
Weighted average number of common shares, as adjusted for
primary computation....................................................... 3,201 3,151 3,183 3,132
Additional dilutive effect of exercise of stock options..................... --- 15 8 31
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Weighted average number of common shares outstanding, as
adjusted.................................................................. 3,201 3,166 3,191 3,163
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Earnings per share.......................................................... $ .36 $ .30 $ .70 $ .60
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<FN>
(a) Restated for the effects of a 10% stock dividend declared on April
19, 1996, which was distributed on June 3, 1996 to stockholders of
record as of May 3, 1996.
</FN>
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