EX-11 3 dex11.txt COMPUTATION OF EARNINGS EXHIBIT 11. COMPUTATION OF EARNINGS PER COMMON SHARE BASIC EARNINGS PER 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 --------------------------------------------------------------------------------------------------------------------------- 2002 10,036,475 $ 11,092 $ 1.11 2001 10,035,819 10,647 1.06 --------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------
Computation of weighted average number of common and common equivalent shares:
------------------------------------------------------------------------------------------------------------------------ Three-Month Periods Ended March 31, 2002 2001 ------------------------------------------------------------------------------------------------------------------------ Common shares outstanding beginning of the period 10,035,819 10,035,819 Weighted average of the common shares purchased and retired or reissued 656 - ------------------------------------------------------------------------------------------------------------------------ Weighted average number of common shares 10,036,475 10,035,819 ========================================================================================================================
DILUTED EARNINGS PER SHARE
----------------------------------------------------------------------------------------------------------------------------- (Dollars in Thousands Except Per Share Data and Number of Shares) ----------------------------------------------------------------------------------------------------------------------------- Weighted Average Three-Month Periods Ended Common and Potential Net Earnings Per March 31, Shares Outstanding Income Common Share ----------------------------------------------------------------------------------------------------------------------------- 2002 10,043,871 $ 11,092 $ 1.10 2001 10,036,275 10,647 1.06 ----------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------
Computation of weighted average number of common and potentially dilutive shares:
------------------------------------------------------------------------------------------------------------------------ Three-Month Periods Ended March 31, 2002 2001 ------------------------------------------------------------------------------------------------------------------------ Weighted average number of common shares 10,036,475 10,035,819 Effect of stock options outstanding (dilutive potential shares) 7,396 456 ------------------------------------------------------------------------------------------------------------------------ Weighted average number of common and potential shares 10,043,871 10,036,275 ========================================================================================================================
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