EXHIBIT 11--STATEMENT RE COMPUTATION OF PER SHARE EARNINGS Three Months Ended Nine Months Ended September 30, September 30, ------------------- ------------------- (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) 1997 1996 1997 1996 - ------------------------------------------------------------------------ ------------------- Net income applicable to common shareholders $ 7,906 $ 3,137 $ 13,283 $ 11,249 ------------------- ------------------- ------------------- ------------------- Average common shares outstanding 23,256 17,506 19,675 17,495 Net effect of dilutive stock options 1,067 -- 509 -- ------------------- ------------------- Average common and common equivalent shares outstanding 24,323 17,506 20,184 17,495 ------------------- ------------------- ------------------- ------------------- Net income per common and common equivalent share $ 0.33 $ 0.18 $ 0.66 $ 0.64 ------------------- ------------------- ------------------- ------------------- There is no significant difference between primary and fully diluted earnings per share.