EX-11 2 ex11.htm EXHIBIT 11 Exhibit 11

EXHIBIT 11 - STATEMENTS RE: COMPUTATION OF PER SHARE EARNINGS

Appalachian Bancshares, Inc.
Computation of Net Income Per Common Share

The following tabulation presents the calculation of basic and diluted earnings per common share for the years ended December 31, 2004, 2003 and 2002. All share amounts have been retroactively adjusted to give effect to the ten percent stock dividend issued in July 2003.

   
2004
  
2003
  
2002
  
Basic Earnings Per Share:
              
Net income
  
$
4,047,014
  
$
3,086,580
  
$
2,668,008
  
                     
Earnings on common shares
  
$
4,047,014
  
$
3,086,580
  
$
2,668,008
  
                     
Weighted average common shares outstanding - basic
    
3,724,095
    
3,609,728
    
3,277,787
  
                     
Basic earnings per common share
  
$
1.09
  
$
0.86
  
$
0.81
  
                     
Diluted Earnings Per Share:
                    
Net income
  
$
4,047,014
  
$
3,086,580
  
$
2,668,008
  
                     
Weighted average common shares outstanding
    
3,724,095
    
3,609,728
    
3,277,787
  
                     
Net effect of the assumed exercise of stock
options - based on the treasury stock method
using average market price for the year
    
161,395
    
199,897
    
230,232
  
 
                    
Weighted average common shares outstanding -
diluted
    
3,885,490
    
3,809,625
    
3,508,019
  
                     
Diluted earnings per common share
  
$
1.04
  
$
0.81
  
$
0.76