MID-ATLANTIC COMMUNITY BANKGROUP, INC.
Exhibit (11)--Statement re: computation of per share earnings
3 Months Ended March 31,
1997 1996
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PRIMARY
Average shares outstanding 944,333 944,333
Net effect of dilutive stock
options--based on the treasury
stock method using average
market price 32,978 28,731
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TOTAL 977,311 973,064
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Net Income $ 415,334 $ 344,958
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Per Share Amount $ 0.42 $ 0.35
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FULLY DILUTED
Average shares outstanding 944,333 944,333
Net effect of dilutive stock
options--based on the treasury
stock method using the year
end market price, if higher
than average market price 35,158 31,576
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TOTAL 979,491 975,909
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Net Income $ 415,334 $ 344,958
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Per Share Amount $ 0.42 $ 0.35
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