EXHIBIT 11. COMPUTATION OF EARNINGS PER COMMON SHARE - ------------------------------------------------------------------------------------------------------------------------ (Dollars in Thousands Except Per Share Data and Number of Shares) - ------------------------------------------------------------------------------------------------------------------------ Weighted Average Three-Month Periods Ended Number of Shares Net Earnings Per March 31, Outstanding Income Common Share - ------------------------------------------------------------------------------------------------------------------------ 1999 10,091,721 $ 2,964 $ 0.29 1998 10,720,430 8,882 0.83 - ------------------------------------------------------------------------------------------------------------------------ Computation of weighted average number of common and common equivalent shares: - ------------------------------------------------------------------------------------------------------------------------ Three-Month Periods Ended March 31, 1999 1998 - ------------------------------------------------------------------------------------------------------------------------ Common shares outstanding beginning of the period 10,091,721 10,727,322 Weighted average of the common shares purchased and retired or reissued - (6,892) - ------------------------------------------------------------------------------------------------------------------------ Weighted average number of common shares 10,091,721 10,720,430 - ------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------