EXHIBIT 11.0

                      STATEMENT OF COMPUTATIONS OF EARNINGS


Statement re: Computation of Earnings Per Share

Earnings per share for the year ended  December 31, 1997, the three months ended
December 31, 1996, and the years ended  September 30, 1996, and 1995 is based on
net income of $5,356,000; $1,160,000; $3,915,000; and $4,574,000,  respectively,
divided  by  the  weighted  average  number  of  shares  and  equivalent  shares
outstanding during the periods of 4,929,989;  4,902,479;  4,869,238;  4,845,384,
respectively.