EX-11 2 l09961aexv11.txt EXHIBIT 11 . . . EXHIBIT 11 STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (Dollar amounts in thousands, except share per share data)
THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, SEPTEMBER 30, SEPTEMBER 30, 2004 2003 2004 2003 ------------- ------------- ------------- ------------- 1. Net income $ 1,763 $ 2,028 $ 5,083 $ 5,527 =========== ========== ========== ============= 2. Weighted average common shares outstanding 2,998,563 2,981,250 2,991,203 2,976,846 3. Common stock equivalents due to dilutive effect of stock options 124,676 139,317 129,610 122,883 ----------- ---------- ---------- ------------- 4. Total weighted average common shares and equivalents outstanding 3,123,239 3,120,567 3,120,813 3,099,729 =========== ========== ========== ============= 5. Basic earnings per share $ .59 $ .68 $ 1.70 $ 1.86 =========== ========== ========== ============= 6. Diluted earnings per share $ .56 $ .65 $ 1.63 $ 1.78 =========== ========== ========== =============
All share and per share amounts have been adjusted for a three for two stock split declared October 21, 2003 19