EXHIBIT 11

COMPUTATION OF NET INCOME PER SHARE

(Unaudited)

(In thousands, except share data)

Three Months Ended

June 30,

	2005		2004
Earnings per common share - basic
Net income	$	840	$	1,082
Preferred dividends		—		(49	)
Net income - basic	$	840	$	1,033
Weighted average common shares
outstanding – basic		2,500,407		2,284,504
Earning per common share - basic	$	0.34	$	0.45
Earnings per common share – diluted
Net income – basic	$	840	$	1,033
Preferred dividends		—		49
Net income- diluted	$	840	$	1,082
Weighted average common shares
outstanding – basic		2,500,407		2,284,504
Effect of dilutive securities - convertible
preferred stock		—		208,333
Effect of dilutive securities - options		67,237		108,208
Weighted average shares
outstanding – diluted		2,567,644		2,601,045
Earning per common share-diluted	$	0.33	$	0.42