MID-ATLANTIC COMMUNITY BANKGROUP, INC.
Exhibit (11)--Statement re: computation of per share earnings
6 Months Ended June 30,
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 33,049 30,233
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TOTAL 977,382 974,566
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Net Income $ 764,587 $ 715,459
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Per Share Amount $ 0.78 $ 0.73
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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 33,065 32,705
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TOTAL 977,398 977,038
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Net Income $ 764,587 $ 715,459
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Per Share Amount $ 0.78 $ 0.73
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