EXHIBIT 11
                                          
                           DEGEORGE FINANCIAL CORPORATION
                                          
               STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
                                          

The Company is required, pursuant to FAS 128, to present basic and diluted
earnings (loss) per share.  Basic earnings (loss) per share is based on the
weighted average number of shares outstanding during the period.  Diluted
earnings (loss) per share amounts assume the conversion, exercise or issuance of
all potential common stock instruments, unless the effect is to reduce the loss
or increase the income per common share from continuing operations.

For the years ended December 31, 1997 and 1995, basic and diluted loss per
common share is based on 10,810,193 weighted average shares outstanding, as the
effect of common stock equivalents (i.e. weighted average effect of options
outstanding) was anti-dilutive.

Weighted average shares for the 1996 computation of earnings per share are as
follows:




                                                         
Weighted average shares outstanding - basic                 10,810,193
Weighted average effect of options outstanding                  12,924
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Weighted average shares outstanding - diluted               10,823,117
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